List of Account titles that may be used: Accounts Payable Accounts Receivable Ac

Question

List of Account titles that may be used:

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Advertising Expense
Amortization Expense
Buildings
Cash
Common Stock
Depreciation Expense
Dividends
Equipment
Income Summary
Income Tax Expense
Income Taxes Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Maintenance and Repairs Expense
Mortgage Payable
No Entry
Notes Payable
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Property Tax Expense
Property Taxes Payable
Rent Expense
Rent Revenue
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
Service Revenue
Supplies
Supplies Expense
Unearned Rent Revenue
Unearned Sales Revenue
Unearned Service Revenue
Utilities Expense
Website

Explanation / Answer

a)

76710

b) Determine the amount of cash received by the American = 12680+18940+76710 =108330

a) Cash A/c 12680      To Sales Revenue A/c 12680 b) Dr Unearned Fees Revenue 25980             Cr Fees Revenue A/c 25980 c) Cash A/c 18940    To Unearned Sales Revenue A/c 18940 36,242 - 19120 = 18940 Unearned Sales Revenue A/c 18940        To Sales Revenue 18940 D) Fees Receivable A/c 95500            To Fees Revenue A/c 95500 e) Cash A/c 76710 To Accounts Receivable A/c

76710

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