During the month of September, the Texas Go-Kart Company had the following business activities: a. On September 1, paid rent on the track facility for six months at a total cost of $7,200. b. On September 1, received $45,600 for season tickets for 12-month admission to the race track. On September 1, booked the race track for a private organization that will use the track one day per month for $1,700 each time, to be paid in the following month. The organization uses the track on September 30. d. On September 1, hired a new manager at a monthly salary of $2,300, to be paid the first Monday following the end of the month. Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1 2. Prepare the adjusting journal entries, if any, required on September 30
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “During the month of September, the Texas Go-Kart Company had the following business activities: a. On September 1, paid rent on the track ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Looking at the globalized AS/AD model, the economy can exceed potential output without generating accelerating goods inflation because: Select one: a. the world price level puts a cap on the domestic price level. b.
Answers (1)
Why do people buys munchkin?
Answers (1)
A company issued 10-year, 7% bonds with a par value of $100,000. The company received $96,526 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:a. $3,326. b. $3,500.00. c.
Answers (1)
11385 s. w. 5th ave. apt. b113 is the same as 11385 s. w. 5th ave. apt. #b113?
Answers (1)
Why is it a good idea to know the size of your vehicle's engine?
Answers (2)
New Questions in Business
What is meant by the term operating leverage?
Answers (1)
John Hernandez is 24 years old and has saved enough money to fund an adequate emergency fund. In addition, he has saved $5,600 that can be used to fund an investment program.
Answers (2)
Jan. 8 Issued Check 2101 for $2,450 on account to Song, Inc., in payment of Invoice 1885 dated December 30, 2018, less cash discount of $50. 10 Purchased merchandise for $1,250 from Song, Inc., Invoice 1920; terms 2/10, n/30.
Answers (1)
The value that consumers get (from consuming a product) over and above what they actually paid for the product is called rev: 05_10_2018 Multiple Choice consumer demand. consumption expenditures. consumer surplus. consumer utility.
Answers (1)
Chunky Chicken, Inc., announced yesterday that it plans to issue $100 million in debenture bonds to fund the expansion of its fast food chain of restaurants. In financial terms, this means: A.
Answers (1)