What is the adjusting entry to accrued revenues earned

Assignment Help Accounting Basics

Reference no: EM132217527

Question: Boat Yard inc. repairs, cleans and stores boats for customers. They are preparing monthly financial statements for November 30, 2017 using Accrual Accounting. On Novemenber 30, the Boat Yard cleaned three boats but did not record the service fees of $33,300, paid $2,400 cash for a radio ad to air in January 2018, the inventory count showed usage of $18,900 in boat supplies and wage expenses were $4000.

A: What is the adjusting entry to accrued revenues earned?

B: Prepare an Income Statement for Boat Yard Inc. for the month ended November 30, 2017.

Reference no: EM132217527

Questions Cloud

Identify publicly traded company that you are interested in : Identify a publicly traded company that you are interested in. Identify the book value of equity as well as the market capitalization as of the most recent.

What is pension expense for gadasky : On 1-1-2016, Gadasky Corporation initiated a funded, noncontributory, defined benefit pension plan and gave employees credit for prior employment.

Find the multiplicative inverse mod n of x : For each x and n, find the multiplicative inverse mod n of x. Your answer should be an integer s in the range 0 through n - 1.

Describe one way that you might be able to improve : Describe one way that you might be able to improve the speed of such a program.

What is the adjusting entry to accrued revenues earned : Boat Yard inc. repairs, cleans and stores boats for customers. They are preparing monthly financial statements for November 30, 2017 using Accrual Accounting.

Display the final counter value in command window : Create main file exampb3.m and use for loop, isprime command, if structure, counter logic to count how many numbers are not prime numbers in 'x'.

What is wilhelm basis for his interest : In anticipation of Wilhelm's growing contribution to future earnings, the agreement provides for equal division of profit. What is Wilhelm's basis.

Calculate the issue proceeds and the accrued interest : On 1 June 20X5, Lush Corp. issued $40,000,000 of 7.5% bonds, with interest paid semi-annually on 30 April and 31 October. The bonds were originally dated.

Prepare journal entries using given information : Prepare journal entries: Jan. 1 Sold 5,000 shares of capital stock for a total of $500,000 cash. Jan. 2 Paid the premium of $12,000 on a 24-month insurance.

User Account

All Pages