answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gtnhenbr [62]
1 year ago
9

On the last day of December 2021, Coaster Trucks entered into a transaction that resulted in a receipt of $300,000 cash in advan

ce related to services that will be provided during January 2022. During December of 2021, the company also performed $165,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the company’s trial balance showed service revenue of $1,425,790 at December 31, 2021. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts receivable from prior months were collected.1. If Camrey's trucks makes the appropirate adjusting entry, how much will service revenue will be reflected on the december 31, 2021 income statement?
2. If Camrey's Trucks makes the appropriate adjusting entry, how much will be reported on the December 31, 2021 Balance sheet as unearned revenue?
3. If Camrey's turcks make the appropriate adjusting entry, how much will be reported on the December 31, 2022 Balance sheet as accounts receivable?
Business
1 answer:
Alex777 [14]1 year ago
7 0

Answer:

  1. $1,590,790
  2. $300,000
  3. $165,000

Explanation:

1. The company performed services but did not record them. Those services were for 2021 and so should be counted in 2021's income statement.

= 1,425,790 + 165,000

= $‭1,590,790‬

2. Coaster Trucks received $300,000 even though they have not yet provided the services for it.

The Unearned revenue = $300,000

3. Coaster Company had performed services worth $165,000 that were neither billed nor paid for. When they record t, it will be owed to them so it will be an Account Receivable.

Accounts Receivable = $165,000

You might be interested in
How do the internet standards allow for greater commerce? what potential problems could we have if we did not have the ieee?
REY [17]
The Internet standards allow for greater commerce because it helps guide the information and commerce paths as they grow and as we move more and more toward digital operations. If we didn’t have the IEEE or their standards we would have utter chaos when it comes to technology and the level of digital communication and use that we have today on such a coordinated scale simply wouldn’t be possible. It would be like trying to pour water down a platform into a cup a distance away (symbol of worldwide digital coordination). The water can go anywhere it wants to within these guidelines and in the end we end up with water in the glass (i.e. worldwide digital coordination). This allows for an exponential growth in technology worldwide.
8 0
2 years ago
Daniel Kipper is a produce farmer in northern California. His major customers are grocery stores in the Midwest. Daniel's produc
Scrat [10]

Answer:

The correct answer is A. Trucks.

Explanation:

To think about transport is to think of trucks. Ground transportation is omnipresent in our lives and roads and trucks are its backbone. But ground transportation has many different forms, which translates into very different types of vehicles. Depending on the type of merchandise to be transported, the dimensions or structure of the vehicle, we must choose the one that best suits our needs.

In land transport, the shape and equipment of trucks make them more appropriate for some types of shipments or materials.

Canvas truck (or tauliner) : This type of trailer is the most common and its semi-trailer is covered by the sides and above with tarps, which can be removed. This allows you to be very comfortable for loading and unloading and can be adapted to a large number of materials, as well as being suitable for transporting products that are difficult to load.

Open platform : In this case the platform where the load goes is open (although it may be partially covered by the sides depending on the merchandise and the possibility that it moves). Although it also offers many options, it is usually used for heavy goods, construction, etc.

Refrigerators : As the name implies, refrigerators are the trucks in charge of transporting the merchandise to be transported refrigerated by land. Depending on whether they have cold generation systems or only insulation with the outside they can be refrigerators, refrigerated or isothermal. Food is the most common customer of this type of vehicles.

Although they are less frequent, there are also calorific trucks to keep the temperature above a certain number of degrees.

Tank : Very common ADR merchandise, tanks are used to transport liquid, gaseous and chemical products, which have particular safety requirements.

Closed : closed trucks, as opposed to tarpaulins, have a rigid structure in the cargo compartment. This means that they can only be loaded from the rear, while the canvas ones can also be loaded from the sides. They are vehicles commonly used for urban delivery and parcel delivery, although there are also closed box trailers.

Car holder : These trucks are specifically designed for land car transport. There are two models of car carriers: the open, which is the most common, and the closed. The latter does not allow vehicles to be seen from outside and is sometimes used to transport the most expensive cars.

Cage Truck : Cage trucks are used to transport live animals. To do this, they have part of the sides or roof open so that air reaches the animals and there is sufficient ventilation.

Containers : The containers are watertight cargo structures, which allows them to protect the merchandise from the weather. They are used for multimodal transport and to facilitate loading and unloading of container ships.

The infinity of materials to transport makes the variety of trucks continue and is very long: hopper (often used for earthmoving), stakes (log transport, among others), concrete mixer, armored (money movements), vehicles special for heavy machinery and a long etcetera.

5 0
2 years ago
Becky was asked to divide a rectangle into 4 equal pieces and to shade one of those pieces. is becky right or not?
gayaneshka [121]
Need to see the picture
4 0
2 years ago
Knowledge Check 01 Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estima
miss Akunina [59]

Answer and Explanation:

The Journal entry is shown below:-

Depletion expense - Coal Deposit Dr, $280,000

          (($900,000 - $100,000) ÷ 200,000) × 70,000

                  To Accumulated depletion -Coal Deposit $280,000

(Being depletion expense for the current year is recorded)

For recording the depletion expense for the current year we simply debited the Depletion expense - coal deposit as it increased the expenses  and we credited the accumulated depletion -coal deposit as it reduced the value of the assets

6 0
2 years ago
The dividend policy must be formulated considering two basic objectives, namely ________. delaying the tax liability of the stoc
Murljashka [212]
The dividend policy must be formulated considering two basic objectives, namely <span>maximizing shareholder wealth and providing for sufficient financing.

A dividend is defined as an amount of money paid by a company to its shareholders out of their provides. The main goals is that it gives the shareholders the most value for their time/money.. the shareholders want a large return. Also, the company wants to make sure they have enough profit/cash on hand to have a large financing amount. 

</span>
8 0
2 years ago
Other questions:
  • Nikita wants to apply for student aid to fund her college education. Arrange the steps involved in Nikita’s application for fina
    8·2 answers
  • Honeycutt Co. is comparing two different capital structures. Plan I would result in 12,700 shares of stock and $109,250 in debt.
    7·1 answer
  • Which of the following statements about operations management processes is NOT true? Group of answer choices Inputs to operation
    14·1 answer
  • Thomas announced to his accounting team that the company’s financial reports should be completed "by next week." Subsequently, m
    12·1 answer
  • Balance sheet and income statement data indicate the following: Bonds payable, 10% $1,000,000 Preferred 5% stock, $100 par (no c
    10·1 answer
  • Ron operates a garbage pickup business. he contracts to pick up garbage from an apartment complex for the next 52 weeks at a pri
    12·2 answers
  • The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Presen
    13·1 answer
  • Here is some pricing information for a pair of jeans from different countries. Country Price of a pair of jeans Actual Exchange
    9·1 answer
  • Wesley, who is single, listed his personal residence with a real estate agent on March 3 of the current year at a price of $390,
    8·1 answer
  • Price controls on rents are frequently implemented by governments in an effort to protect renters from high housing prices. Diff
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!