ACC 201 Lecture Notes - Lecture 3: Deferred Income
Document Summary
In september, noodlecake sold ,000 of games at its online store. Revenue +3000 (cr. ) (b) receive cash for future services. Noodlecake issued three gift cards at the beginning of september. Deferred revenue +300 (cr. ) (c) sell apps on credit. Noodlecake sold ,000 of apps in the app store and on google play. Sales revenue +9,000 (cr. ) (d) receive payment on account. Noodlecake received checks totaling ,500 from apple and google, on. Accounts receivable -,500 (cr. ) (e) pay cash to employees. Noodlecake wrote checks to employees totaling ,800 for wages related to hours worked in september. Wage expense -,800 (dr. ) [stockholders" equity] (f) pay cash in advance. On september 1, noodlecake paid ,200 in advance for september, Prepaid rent +7. 200 (dr. ) (g) incur cost to be paid later. Noodlecake displayed online ads in september and received a bill for. Advertising expense -500 (dr. ) (h) pay cash for expenses.
