This is a T-Account for SERVICE REVENUE FEEHere are the transactions and amounts provided. I need to find out what Transaction C is.On the Credit SideBeginning Balance $6,000Transaction A $3,00Transaction B $3,500Transaction C? is on the Debit side. How do I figure out the amount of Transaction C. Please show me how to figure that out but also provide the answer. Thanks!

Question

This is a T-Account for SERVICE REVENUE FEE
Here are the transactions and amounts provided. I need to find out what Transaction C is.

On the Credit Side
Beginning Balance $6,000
Transaction A $3,00
Transaction B $3,500

Transaction C? is on the Debit side. How do I figure out the amount of Transaction C. Please show me how to figure that out but also provide the answer. Thanks!

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: Goshford Company produces a single product and has capacity to produce 100,000 units per month. Cost...

A: Net income: Net income is the residual amount left after deducting all the expenses incurred by the ...

Q: XS Supply Company is developing its annual financial statements at December 31. The statements are c...

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and cas...

Q: Leinart Company had taxable wages (SUTA and FUTA) totaling $175,000. During the year, the company wa...

A: Calculate gross FUTA tax:

Q: Why is it necessary to prepare formal financial statements if all the data are in the statement colu...

A: Worksheet is an accounting  tool used by the business  which is used for balancing and closing the b...

Q: Uneven Cash Flows; NPV; Sensitivity Analysis MaxiCare Corporation, a not-for-profit organization, sp...

A: NPV is the Net Present value of the investment i.e. the present value of the expected benefit. IRR i...

Q: I need help solving this, thanks!

A: Break-even sales: Break-even sales is that level of sales at which there is no profit or no loss on ...

Q: Depreciation calculation methods Gandolfi Construction Co. purchased a used CAT 336DL earth mover at...

A: The depreciation under straight line method is computed by following formula (cost-salvage value)/es...

Q: Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:   ...

A: Prepare a bank reconciliation statement for Hills Company.

Q: The following operating information reports the results of Swifty Company’s production and sale of 1...

A: Operating income: Operating income is the income earned by the business from its operating activitie...

Q: Indicate whether each of the following activities would be reported on the statement of cash flows a...

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for ...

Q: Angie Silva has recently opened The Sandal Shop in Brisbane, Australia, a store that specializes in ...

A: As there is additional revenue of $22,000, The Sandal Shop will be profited if the part-time salespe...

Q: 12.4 analysis    CVP analysis Current operating income for Bay Area Cycles Co. is $70,000. Selling p...

A: Calculate Company B’s breakeven point in units.

Q: Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute...

A: Contribution margin income statement: It is a kind of income statement which reports the sales, vari...

Q: Shamrock, Inc.’s income statement contained the condensed information below. Shamrock, Inc.Incom...

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for ...

Q: At zero direct labor hours in a flexible budget graph, the total budgeted cost line intersects the v...

A: Fixed costs: Fixed costs are those costs which remain unchanged even there is a change in the produc...

Q: Hello, Following is a partially completed performance report for a recent week for direct labor in t...

A: Calculate the standard direct labor hours.

Q: (Prepared from a situation suggested by Professor John W. Hardy.) Lone Star Meat Packers is a major ...

A: 1 pound=16 ounces.One pounce T-Bone steak will give 6 ounce filet mignon & 8 ounce New York cutT...

Q: Explain what is meant by the term management by exception. What is the relationship between the proc...

A: Management by exception: Under this style of management, employees are allowed to take decisions rel...

Q: Suppose the following information was taken from the 2017 financial statements of FedEx Corporation,...

A: The given question can be answered in the following manner :

Q: Work-in-Process Inventory, June 1 ? Work-in-Process Inventory, June 30 55,000 gallons Un...

A: Beginning Work-in-process inventory: Beginning Work-in-process inventory represents partially finish...

Q: Ayayai Corp. has 4,200 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017...

A: Dividend: Dividend refers to the payment made to the investor out of the profits earned by the busin...

Q: Metallgurst AG issued a $100,00 4- year, 105 notes at face value to Bank of Norway on January 1, 201...

A: When the common stock is issued for settlement, the common stock needs to be credited by the face va...

Q: Life-Cycle Costing Kate Stephens, the COO of BioDerm, has asked her cost management team for a produ...

A: Click to see the answer

Q: Z Inc. paid $10,320 amount paid August 1, 2017, for one-year insurance and recorded the total on as ...

A: Adjusting entries: Adjusting entries are the journal entries which are recorded at the end of the ac...

Q: I attempted this problem and tried to do the company's income statement for on company for december ...

A: Calculate the missing amounts:

Q: Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan f...

A: Once the production units are computed, the raw material purchases in pounds are determined. The pur...

Q: Comprehensive Accounting Cycle Review 9-1 (Part Level Submission) Pina Colada Corp.’s unadjusted tr...

A: Explanation for the entry adjustmentDec 2- The Equipment cost including sales tax needs to be capita...

Q: Every year Blue Industries manufactures 7,300 units of part 231 for use in its production cycle. The...

A: Relevant costs: These are the costs a business computes to decide whether to continue or close a uni...

Q: I had previously asked this question and there was no solution attached to it. I should be credited ...

A: Break-even sales: Break-even sales is that level of sales at which the firm is just covering its exp...

Q: When analyzing financial statements, creditors are more concerned with which of the following? a. Li...

A: Financial statement analysis: The process of analyzing the financial statements of a company to asse...

Q: You must show all of your work for each problem. Make sure your workflows logically and solutions ar...

A: Bad debt reserves are used by the business to write off any bad debt expenses arising in the course ...

Q: Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the ...

A: Direct material budget: Direct material budget shows how much raw material purchase for the manufact...

Q: What if the invoice date is 12/27, but the invoice is about next year's sevices, should we record th...

A: as per U.S. GAAP, accounts payable should be recorded on receipt of invoices or on accrual basis if ...

Q: Affordable Lawn Care, Inc., provides lawn mowing services to both commercial and residential custome...

A: Prepare an income statement, statement of retained earnings and balance sheet of Incorporation A for...

Q: Serial Problem Business Solutions LO P1, P2 Santana Rey is considering the purchase of equipment fo...

A: Payback Period: The payback period is a capital budgeting method which determines the time period re...

Q: Handy Harvey is a leading global manufacturer and marketer of power tools, hardware, and home improv...

A: On dividend declaration date, the dividend payable liabilities arises and since dividend are declare...

Q: Hello, Silverstone's production budget for July called for making 39,800 units of a single product. ...

A: Absorption costing: The absorption costing method is a costing method that allocates the direct prod...

Q: I attempted this problem and got some of the missing values but my numbers aren't adding up. Can you...

A: Manufacturing Income Statement: It refers to the income statement of a manufacturing business it inc...

Q: Cost of Goods Sold and the Periodic System Hermani Company uses the periodic inventory system. Herma...

A: A periodic inventory system is a system used to determine the inventory at the end of specific perio...

Q: The assets and liabilities of a company are $85,696 and $44,373, respectively. Stockholders' equity ...

A: Accounting equation:Accounting equation is an accounting tool expressed in the form of equation, by ...

Q: The following condensed balance sheet is presented for the partnership of Axel, Barr and Cain, who s...

A: Click to see the answer

Q: Hagen Company’s budgeted sales and direct materials purchase are as follows.   Budgeted Sales ...

A: Expected cash collection from customers in March is the sum of cash sales in March, 36% of credit sa...

Q: Problem 11-2A (Part Level Submission) The stockholders’ equity accounts of Cheyenne Corp. on Januar...

A: Calculating the value of dividends paid to common stockholder. We have,The value of dividend paid to...

Q: 3) Operating income and tax rates for SALTCO’s first three years of operations were as follows: Inco...

A: It is to be noted that we have created deferred tax in 2017 at the enacted tax rate in 2017. However...

Q: The two independent cases are listed below:    Case A   Case B     Year 2   Year 1   Year 2   Y...

A: Cash flows from operating activities:  Cash flows from operating activities refer to the cash receiv...

Q: HH purchased new shelving for its store on April 1, 2018. The shelving is expected to have a 20-year...

A: Since, we only answer upto 3 sub-parts, we'll answer the first 3.Please resubmit the question and sp...

Q: Coca Cola acquired 70% of Pepsi on 1/1/14. During 2014, Coca Cola made many inventory sales to Pepsi...

A: Click to see the answer

Q: Bonds payable—various issues On July 1, 2016, $12 million face amount of 7%, 10-year bonds were issu...

A: Bonds are the debt instruments which are issued by corporates against certain sum of money and carry...

Q: Gandrud Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one d...

A: Flexible budget: A flexible budget is a budget which varies with the activity level of the business....

Q: Are the answers correct?

A: Variances are computed by subtracting the budgeted costs from actual costs. When actual rates/quanti...