Assignment 2(Due: Sunday, 9/15, 11:00 PM CST)1. Clean & Clear Water offers pool and spa cleaning services to hotels and residential customers.Commercial (hotels) customers pay on a monthly contract basis, while residential customers payan hourly rate based on services provided.In July 2019, Clean & Clear Water signed a 6-month contract with Travel Holidays to provide pooland spa cleaning services for 3 hotel sites. The contract price of $48,000 was collected on July 1,2019. The services will be provided evenly over the 6 months.During July 2019, Clean & Clear Water also provided 80 hours of residential pool services at $30per hour. These services have not yet been billed to residential customers. The company uses theaccount, Fees Receivable, to reflect amounts due but not yet billed.Prepare the entry on July 1, 2019 to record the receipt of $48,000 cash related to the contractwith Travel Holidays.a.b. Prepare the adjusting entry to be made on July 31, 2019 for the contract work performed forTravel Holidays during the month.c. Prepare the adjusting entry needed on July 31, 2019 to reflect the residential pool servicesperformed during the month.2. On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that coversFebruary 1, 2019 through January 31, 2021. TPban Pra's year-end is March 31, 2019.C:s Cays Coa. What entry is made on January 18, 2019?b. What adjusting entry should be made on March 31, 2019 before the financial statements areprepared for the year ending March 31, 2019?Selected accounts of Farm Companyany adjusting entries have been made. Farm Company's accounting year begins on January 1.are shown below as of January 31 of the current year, before3.DebitCreditPrepaid rentSupplies$12,6009,900Unearned service fees$18,000Wages expense24,000Use the following information to prepare the necessary January 31 adjusting entries:(1) Prepaid rent represents rent for January, February, March, and April.(2) January 31 supplies on hand total $3,900(3) Last month the firm receivedearned during Januaryvervice fees in advance. One-half of these fees were(4) Accrued wages nt crual AccountingCredht36 0032.)aJan 18erepard Dasurae36j000Att eCASH30003)Tasiace&pense3,000Pefaide dasaace36००० (24)

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Asked Sep 12, 2019
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Assignment 2
(Due: Sunday, 9/15, 11:00 PM CST)
1. Clean & Clear Water offers pool and spa cleaning services to hotels and residential customers.
Commercial (hotels) customers pay on a monthly contract basis, while residential customers pay
an hourly rate based on services provided.
In July 2019, Clean & Clear Water signed a 6-month contract with Travel Holidays to provide pool
and spa cleaning services for 3 hotel sites. The contract price of $48,000 was collected on July 1,
2019. The services will be provided evenly over the 6 months.
During July 2019, Clean & Clear Water also provided 80 hours of residential pool services at $30
per hour. These services have not yet been billed to residential customers. The company uses the
account, Fees Receivable, to reflect amounts due but not yet billed.
Prepare the entry on July 1, 2019 to record the receipt of $48,000 cash related to the contract
with Travel Holidays.
a.
b. Prepare the adjusting entry to be made on July 31, 2019 for the contract work performed for
Travel Holidays during the month.
c. Prepare the adjusting entry needed on July 31, 2019 to reflect the residential pool services
performed during the month.
2. On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that covers
February 1, 2019 through January 31, 2021. TPban Pra's year-end is March 31, 2019.
C:s Cays Co
a. What entry is made on January 18, 2019?
b. What adjusting entry should be made on March 31, 2019 before the financial statements are
prepared for the year ending March 31, 2019?
Selected accounts of Farm Company
any adjusting entries have been made. Farm Company's accounting year begins on January 1.
are shown below as of January 31 of the current year, before
3.
Debit
Credit
Prepaid rent
Supplies
$12,600
9,900
Unearned service fees
$18,000
Wages expense
24,000
Use the following information to prepare the necessary January 31 adjusting entries:
(1) Prepaid rent represents rent for January, February, March, and April.
(2) January 31 supplies on hand total $3,900
(3) Last month the firm received
earned during January
vervice fees in advance. One-half of these fees were
(4) Accrued wages nt
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Assignment 2 (Due: Sunday, 9/15, 11:00 PM CST) 1. Clean & Clear Water offers pool and spa cleaning services to hotels and residential customers. Commercial (hotels) customers pay on a monthly contract basis, while residential customers pay an hourly rate based on services provided. In July 2019, Clean & Clear Water signed a 6-month contract with Travel Holidays to provide pool and spa cleaning services for 3 hotel sites. The contract price of $48,000 was collected on July 1, 2019. The services will be provided evenly over the 6 months. During July 2019, Clean & Clear Water also provided 80 hours of residential pool services at $30 per hour. These services have not yet been billed to residential customers. The company uses the account, Fees Receivable, to reflect amounts due but not yet billed. Prepare the entry on July 1, 2019 to record the receipt of $48,000 cash related to the contract with Travel Holidays. a. b. Prepare the adjusting entry to be made on July 31, 2019 for the contract work performed for Travel Holidays during the month. c. Prepare the adjusting entry needed on July 31, 2019 to reflect the residential pool services performed during the month. 2. On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that covers February 1, 2019 through January 31, 2021. TPban Pra's year-end is March 31, 2019. C:s Cays Co a. What entry is made on January 18, 2019? b. What adjusting entry should be made on March 31, 2019 before the financial statements are prepared for the year ending March 31, 2019? Selected accounts of Farm Company any adjusting entries have been made. Farm Company's accounting year begins on January 1. are shown below as of January 31 of the current year, before 3. Debit Credit Prepaid rent Supplies $12,600 9,900 Unearned service fees $18,000 Wages expense 24,000 Use the following information to prepare the necessary January 31 adjusting entries: (1) Prepaid rent represents rent for January, February, March, and April. (2) January 31 supplies on hand total $3,900 (3) Last month the firm received earned during January vervice fees in advance. One-half of these fees were (4) Accrued wages nt

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crual Accounting
Credht
36 003
2.)aJan 18
erepard Dasurae
36j000
Att e
CASH
3000
3)
Tasiace
&pense
3,000
Pefaide dasaace
36००० (24)
help_outline

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crual Accounting Credht 36 003 2.)aJan 18 erepard Dasurae 36j000 Att e CASH 3000 3) Tasiace &pense 3,000 Pefaide dasaace 36००० (24)

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(a) Journal entry on Ja...

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Debit Credit Accounts and Explanation Date (S) (S) January 18, 2019 Prepaid Insurance 36000 Cash 36000 (To record insurance) the prepaid

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