Chapter 3 hw

Chapter 3 hw - M3-3Activity Revenue Account...

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Unformatted text preview: M3-3Activity Revenue Account TitleAmounta.Service Fee Revenue$11,000b.Inventory Sales Revenue$6,000c.No revenue earned in July (was for service made in the month of June)-d. No revenue earned in July (Cash is paid before the service is give)-M3-4ActivityExpense Account TitleAmounte.No expense (no expense involved in selling of merchandise)-f. No Expense for July (expense recorded in June)-g.Wages Expense$3,800h. Insurance expense for the month of July$450i.Repair expense (General and Administrative Expenses)$1,200j.Utilities Expense (General and Administrative Expenses)$2,300M3-5DebitCredita.Cash (+A) $11,000Service Revenue (+SE)$11,000b.Cash (+A)$4,000Account Receivable (+A)$2,000Inventory Sales Revenue (+SE)$6,000c.Cash (+A)$1,500Account Receivable (-A)$1,500d.Cash (+A)$1,600Unearned Service Fee (+L)$1,600M3-6DebitCredite.???f.Account Payable (-L)$1,800Cash (-A)$1,800g.Wages Expense (-SE)$3,800Cash (-A)$3,800h.Insurance expense for the month of July (-SE)$450Cash (-A)$450i.Repair expense (-SE)$1,200Cash (-A)$1,200j.Utilities Expense (-SE)$2,300Account Payable (-L)$2,300E3-3ActivityRevenue account titleAmounta.Sales Revenue$18,400b.Sales Revenue $18,050c.No recognized revenue: the delivery of goods or services has not occurred-d. Sales Revenue$15,000e. Sales Revenue$15,000f. No recognized revenue: the service will not be used until January-g.No recognized revenue: there is no arrangement for customer payment-h. No recognized revenue: the delivery of services has not occurred-i.Sales Revenue$3,660,000j.No recognized revenue: the delivery of services has not occurred-k.Services Revenue$1,640l.No recognized revenue: the delivery of goods has not occurred-m. Sales Revenue$100E3-4ActivityExpense account titleAmounta.Wages Expenses (other half is expensed previous month)$39,750b.Insurance Expenses$1,470c.Utilities Expenses$754d. Cost of Sales$5,000e.e....
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This note was uploaded on 10/21/2009 for the course H ADM 223 taught by Professor Pstrebel during the Spring '07 term at Cornell.

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Chapter 3 hw - M3-3Activity Revenue Account...

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