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business accounting
  • From Business, General Business
  • Due on 26 Sep, 2016 12:00:00
  • Asked On 23 Sep, 2016 09:55:26
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Davos company performed services on accounts for $160,000.00 in 2016. Davos collected $120,000.00 cash from accounts recieveable during 2016, and remaing $40,000.00 was colleceted in cash during 2017.

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ledger accounts
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  • Submitted On 24 Sep, 2016 01:38:14
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Ledger Accounts Name Institution Course Date Journal to record services done on account Dr. Account receivable 160000 Cr. Service revenue 160000 The T- account will be a) dr. account receivable cr. service revenue 160000 cash 120000 bal c/d 40000 160000 160000 bal b/d 40000 dr. cash a/c cr. account receivable 120000 bal. c.d 120000 120000 120000 bal b/d 120000 dr. service revenue cr. bal c/d 160000 Accounts receivable 160000 160000 160000 bal b/d 160000 Cash =120000+40000= retained earning =160000. Revenue =160000-0 =net income =160000 c) the amount of revenue to be reported by Davos is 160000 d) cash flow from operating activities ...
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a) T- Accounts Debit Credit 2016 Service revenue $160,000 2016 Cash $120,000
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  • Submitted On 24 Sep, 2016 02:52:03
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Answers of all parts in attached file.... b) Events Assets +liabilities + Stockh...
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EXERCISE 3-9A, 3-10A
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  • Submitted On 24 Sep, 2016 07:38:20
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EXERCISE 3-9A, ...
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EXERCISE 3-9A, 3-10A
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  • Submitted On 24 Sep, 2016 07:52:10
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EXERCISE 3-9A Exercise 3-9A Recording receivables and identifying their effect on financial statements Davos Company performed services on account for $160,000 in 2016. Davos collected $120,000 cash from accounts receivable during 2016, and the remaining $40,000 was collected in cash during 2017. Required a. Record the 2016 transactions in T-accounts. b. Record the 2016 transactions in a horizontal statements model like the following one: Assets 5 Liab. 1 Equity Rev. 2 Exp. 5 Net Inc. Cash Flow Cash 1 Accts. Rec. 5 Ret. Earn. c. Determine the amount of revenue Davos would report on the 2016 income statement. d. Determine the amount of cash flow from operating activities Davos would report on the 2016 statement of cash flows. e. Open a T-account for Retained Earnings, and close the 2016 Service Revenue account to the Retained Earnings account. f. Record the 2017 cash collection in the appropriate T-accounts. g. Record the 2017 transaction in a horizontal statements model like the one shown in Requirement b . h. Assuming no other transactions occur in 2017, determine the amount of net income and the net cash flow from operating activities for 2017. a., e. & f. A...
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Solution to 3-9 A and 3-10 A is attached
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  • Submitted On 25 Sep, 2016 05:25:27
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Solution to 3-9 A and 3-10 A is...
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business accounting
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  • Submitted On 26 Sep, 2016 05:34:40
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a., e. & f. Assets = Stockholders’ Equity Cash Accounts Rec. Retained Earnings 160000 160000 120000 120000 120000 40000 40000 40000 160000 0 b. & g. NC = Net Change in Cash D...
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