Ask Experts Questions for FREE Help !
Ask
    anharmon0630's Avatar
    anharmon0630 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Apr 26, 2007, 10:28 AM
    Adjusting entry
    The Ritz Manor is a popular seaside resort. A double room costs $220 for one night. In order to reserve a room, guests must pay one night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for guests. Vendalite stocks the machines and collects revenue every week. Total average weekly revenue from these machines is $720. The Ritz Manor is entitled to 30% of the revenue from the machines. Vendalite sends a check to the Ritz Manor once at the end of each quarter for the resort’s share of the revenue.



    Based on this information, what type of adjusting entries does the Ritz Manor have?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Apr 26, 2007, 02:54 PM
    What do YOU think the answers are and why?

    Attempt you own homework question, then we will assist you.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Sep 20, 2011, 08:23 PM
    What is your question
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #4

    Sep 21, 2011, 06:10 AM
    And?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Adjusting entry [ 3 Answers ]

I am preparing adjusting entries for dec 31 1) on nov 1, jay borrowed $9,000 from yorkville bank issuing a 90 day, 10% note. 2) on dec 1, jay gave laura palmer a 60 day, 12% note for $6000 on account. I wrote: cash 9,000 n/p 9,000 2) a/r ...

Adjusting entry [ 1 Answers ]

What is the adjusting entry for unused supplies in hand

Adjusting entry [ 4 Answers ]

1. An analysis of lee's service contracts with customers shows that $8,300 of the amount customers have prepaid remains unearned. And balance in adjusted trial balance for unearned service fees is 20000 credit. 2. Lee has earned but unrecorded revenue for $10,000 for services...

Need a adjusting entry [ 1 Answers ]

(a) Employees, who are paid $7,500 every two weeks, have earned $5,250 since the last payment. The next payment of $7,500 will be on January 4. (b) Leeward rents office space to a tenant who has paid only $450 of the $1,125 rent for December. On January 12, the tenant will pay the remainder...

Adjusting entry [ 1 Answers ]

I'm trying to do my accounting homework and I got stumped. Im doing an adjusting entry for Interest accrued on notes reveivable on may 31st for 100$. Would I debit notes recievable and credit interest income?

View more questions Search