brenda
Member
- May 14, 2008
- 116
- 0
- 16
memberships.? •Describe how each of the following transactions affects the accounting equation.
oRevolving Fitness sold 1,250 of its $600 annual memberships to its fitness centers in 2009.
oRevolving Fitness earned $400,000 in revenues from providing the services of a personal trainer.
oRevolving Fitness reported $850,000 in sales from selling fitness equipment.
oRevolving Fitness purchased fitness equipment on account costing $500,000 that it plans to resell.
oRevolving Fitness paid $2,500 for towel-laundering services for 2009.
oRevolving Fitness paid its CEO $250,000 for 2009.
oRevolving Fitness paid $1,500 for an advertisement campaign to sell new memberships.
oRevolving Fitness reported $300,000 in cost of goods sold for 2009.
oRevolving Fitness paid $100,000 in sales salaries for 2009.
oRevolving Fitness paid $1,500 in equipment repairs for 2009.
oRevolving Fitness sold 1,250 of its $600 annual memberships to its fitness centers in 2009.
oRevolving Fitness earned $400,000 in revenues from providing the services of a personal trainer.
oRevolving Fitness reported $850,000 in sales from selling fitness equipment.
oRevolving Fitness purchased fitness equipment on account costing $500,000 that it plans to resell.
oRevolving Fitness paid $2,500 for towel-laundering services for 2009.
oRevolving Fitness paid its CEO $250,000 for 2009.
oRevolving Fitness paid $1,500 for an advertisement campaign to sell new memberships.
oRevolving Fitness reported $300,000 in cost of goods sold for 2009.
oRevolving Fitness paid $100,000 in sales salaries for 2009.
oRevolving Fitness paid $1,500 in equipment repairs for 2009.