Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100.The client paid cash immediately.Identify the general journal entry below that Silvia's Studio will make to record the transaction.

A)
B)
C)
D)
E)

Question

Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100.The client paid cash immediately.Identify the general journal entry below that Silvia's Studio will make to record the transaction.

A)

B)

C)

D)

E)

Denis Valeev · Accepted Answer

Final Answer : C, Explanation :  The transaction involves both dance instruction revenue and rental revenue, so the journal entry should credit (reduce) the revenue accounts and debit (increase) the cash account. Option C correctly reflects this by debiting Cash for $250, and crediting Dance Instruction Revenue for $150 and Rental Revenue for $100.

Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100.The client paid cash immediately.Identify the general journal entry below that Silvia's Studio will make to record the transaction.

A)
B)
C)
D)
E)

Definitions

Learning Objectives

Learning Objectives

Related questions

Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100.The client paid cash immediately.Identify the general journal entry below that Silvia's Studio will make to record the transaction.A) B) C) D) E)

Definitions

Learning Objectives

Learning Objectives

Related questions

Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100.The client paid cash immediately.Identify the general journal entry below that Silvia's Studio will make to record the transaction.

A)
B)
C)
D)
E)