Gi Gi's Dance Studio Provided $150 of Dance Instruction and Rented

question 157

Multiple Choice

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

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Definitions:

Price Hike

An increase in the listed price of goods or services, often due to increased costs or higher demand.

Sales Forecast

An estimate of the amount of products or services a company expects to sell in a future period, which is crucial for budgeting and planning purposes.

Net Operating Income

The profit a company makes from its regular business operations, excluding expenses and revenue from non-operational activities.

Price Hike

A general increase in the cost of goods and services, often due to inflation or increased production costs.