The following transactions for March have been journalized and posted to the proper accounts.
Mar. 1 The business received a $10,000 cash contribution from the owner.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Purchased equipment by paying $4,000 cash and executing a note payable for $6,000.
Mar. 4 Purchased office supplies for $500 cash.
Mar. 5 Billed a client for $14,000 of design services completed.
Mar. 6 Received $6,000 on account for the services previously recorded.
What is the ending balance in the Service Revenue account?
a. $16,000
b. $10,000
c. $14,000
d. $6,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The following transactions for March have been journalized and posted to the proper accounts. Mar. 1 The business received a $10,000 cash ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
True or False: When a country is too small to affect the world price, allowing free trade will have a non-negative effect on total surplus in that country, regardless of whether it imports or exports as a result of international trade. True False
Answers (1)
Your firm's last three years of sales have been $1 million, $2 million, and $3 million (oldest to most recent). Year-end inventory was $250k, $500k, and $750k respectively.
Answers (1)
Baxley Brothers has a DSO of 26 days, and its annual sales are $6,205,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest cent.
Answers (1)
An establishment owned by two or more persons in which only one person has unlimited personal liability for the business describes what kind of partnership
Answers (1)
Debbie needs to know how much she will pay on her car loan. Using the simple interest formula, how much will she pay with a principal balance of $12,000, an interest rate of 5 percent, and a 60-month loan?
Answers (1)
New Questions in Business
Summer Nights sells bottles of bug spray for $8.00 each. Variable costs are $2.00 per bottle, while fixed costs are $40,000 per month for volumes up to 40,000 bottles of spray and $58,000 per month for volumes above 40,000 bottles of spray.
Answers (1)
5 years ago, Barton Industries issued 25-year noncallable, semiannual bonds with a $900 face value and a 12% coupon, semiannual payment ($54 payment every 6 months). The bonds currently sell for $845.87.
Answers (1)
Under the allowance method of accounting for uncollectible accounts, Bad Debt Expense is debited a. when a credit sale is past due. b. whenever an account is deemed worthless. c. whenever a predetermined amount of credit sales has been made. d.
Answers (1)
An entrepreneur is someone who
Answers (2)
Paul Davis wants to deposit a lump sum of money today for a vacation that he plans to take to Asia after he graduates from Graduate School. Which formula should he use to determine the amount of money he will have available for his vacation?
Answers (1)