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Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the credit card receipts.
a) Prepare the general journal entry to record performance of the services.
b) Prepare the general journal entry for collection of the receivable from the credit card company.
Concept of accounting for Wealth creation It is significant to recognise that generating wealth for the owners isn't the same as seeking to maximise the current year's profit.
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What would be the effect on the balance sheet if adjustments (a) and (f) were omitted at the end of the year?k question #Minimum 100 words accepted#
profit margin 2.5%, equity multiplier 2.0,sales $50000, common equity $25000.compute return on common equity.
A summary of management oriented activity ratio are specified below. It describes the ratios and also their major purposes. Activity Ratios (Secondary Group) The numer
Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
Final accounts 1) Examination questions – two types of problems arise in examinations: transfers between head office and branch are made at cost; or Transfers bet
XYZ Municipality purifies water before it enters the reticulation network. There are presently 3 purification processes available to the municipality. These processes sre referred
given the following information: cash-171,100 accounts receivable-9400 prepaid studio rent-3000 unexpired insurance-7200 supplies-500,equipment-18,000 accumulated depreciation-7200
Principles, concepts and CONVETIONS
I am unable to solve out this question. Can anyone suggest me how to solve this question.
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