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Maya rented office space for her new business on March 1, 2010. To receive a discount,...
QUESTION 35 1 points Saved On November 1, NASA rented some office space in Houston for...
QUESTION 35 1 points Saved On November 1, NASA rented some office space in Houston for twelve months paying $30,000 in advance for the 12-month rental. NASA adjusts accounts annually on December 31st for its financial report. The appropriate adjusting entry for NASA's office rent on December 31st would be: Use the following abbreviations for accounts to fill in the blanks: PR = PrePaid Rent CA = Cash AR = Accounts Receivable RE = Rent Expense Debit RE and Credit...
On October 1, Goodwell Company rented warehouse space to a tenant for $3,900 per month.
On October 1, Goodwell Company rented warehouse space to a tenant for $3,900 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is:
On November 1, the company, rented space to another tenant. A check in the amount of $9,000,
Journal Entry On November 1, the company, rented space to another tenant. A check in the amount of $9,000, representing three months' rent in advance, was payment was recorded with a credit to the Unearned Rent Revenue account. Complete the necessary adjusting entry for December 31 by selecting the account names and dollar amounts from the drop-down menus.
On October 1 Vista View Company rented warehouse space to a tenant for $2.500 per month....
On October 1 Vista View Company rented warehouse space to a tenant for $2.500 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is:
On November 1, the company rented space to another tenant. Acheck in the amount of...
On November 1, the company rented space to another tenant. A
check in the amount of $9,000, representing three months’ rent in
advance, was received from the tenant on that date. The tenant
occupied the space on November 1. The payment was recorded with a
credit to the Unearned Revenue account. Complete the necessary
adjusting journal entry for December 31. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
E3-29A (similar to) Question Help Yodel & Company paid $4,320 on October 1, 2010, for a...
E3-29A (similar to) Question Help Yodel & Company paid $4,320 on October 1, 2010, for a two-year insurance policy beginning on that date. The company recorded the entire amount as prepaid insurance. By using the following chart, calculate how much expense and prepaid insurance will be reported on the year-end financial statements. The company's fiscal year end is December 31. (Complete all answer boxes.) Insurance expense Prepaid insurance at December 31 2010 2011 2012
E3-34A (similar to) Question Help On October 1, 2010, Computer Consulting, Inc. was formed when the...
E3-34A (similar to) Question Help On October 1, 2010, Computer Consulting, Inc. was formed when the owners contributed $55,000 cash to the business in exchange for common stock. On November 1, 2010, the company paid $36,000 cash to rent office space for the coming year. The consulting services generated $77,000 of cash revenue during 2010. Prepare an income statement, statement of changes in shareholders' equity, and statement of cash flows for the 3 months ended December 31, 2010, and a...
On April 1, 2011, Technapine paid $30,000 for rent on warehouse space one year in advance....
On April 1, 2011, Technapine paid $30,000 for rent on warehouse space one year in advance. On October 1, 2011, Technapine entered into a lease agreement to rent out its old warehouse space it was no longer using. This agreement calls for Technapine to receive $2,000 per month from the lessee, due and payable at the end of the 4-month lease term. At December 31, 2011, none of the rental payments from the lessee had yet been received. 2. If...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is: Multiple Choice Debit Unearned Rent. $12,600. credit Rent Earned, $12,600 O Debit Unearned Rent, $21,000, credit Rent Earned, $21000, Debit Unearned Rent,...
----Uruing Accrued Revenues Information: Assume that Porter Properties Inc., a calendar-year company, rented office space, to...
----Uruing Accrued Revenues Information: Assume that Porter Properties Inc., a calendar-year company, rented office space, to be occupied immediately, to Tiger Travel Agency on November 1, 2018, for $5,000 per month. Porter requires Tiger Travel to make a rental payment at the end of every three months. No payment was made on November 1. Required: 1. Prepare the adjusting journal entry necessary for Porter on December 31, 2018. 2. Prepare the entry necessary on January 31, 2019, to record the...
QUESTION 35 1 points Saved On November 1, NASA rented some office space in Houston for twelve months paying $30,000 in advance for the 12-month rental. NASA adjusts accounts annually on December 31st for its financial report. The appropriate adjusting entry for NASA's office rent on December 31st would be: Use the following abbreviations for accounts to fill in the blanks: PR = PrePaid Rent CA = Cash AR = Accounts Receivable RE = Rent Expense Debit RE and Credit...
On November 1, the company rented space to another tenant. A
check in the amount of $9,000, representing three months’ rent in
advance, was received from the tenant on that date. The tenant
occupied the space on November 1. The payment was recorded with a
credit to the Unearned Revenue account. Complete the necessary
adjusting journal entry for December 31. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
E3-29A (similar to) Question Help Yodel & Company paid $4,320 on October 1, 2010, for a two-year insurance policy beginning on that date. The company recorded the entire amount as prepaid insurance. By using the following chart, calculate how much expense and prepaid insurance will be reported on the year-end financial statements. The company's fiscal year end is December 31. (Complete all answer boxes.) Insurance expense Prepaid insurance at December 31 2010 2011 2012
E3-34A (similar to) Question Help On October 1, 2010, Computer Consulting, Inc. was formed when the owners contributed $55,000 cash to the business in exchange for common stock. On November 1, 2010, the company paid $36,000 cash to rent office space for the coming year. The consulting services generated $77,000 of cash revenue during 2010. Prepare an income statement, statement of changes in shareholders' equity, and statement of cash flows for the 3 months ended December 31, 2010, and a...
On April 1, 2011, Technapine paid $30,000 for rent on warehouse space one year in advance. On October 1, 2011, Technapine entered into a lease agreement to rent out its old warehouse space it was no longer using. This agreement calls for Technapine to receive $2,000 per month from the lessee, due and payable at the end of the 4-month lease term. At December 31, 2011, none of the rental payments from the lessee had yet been received. 2. If...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is: Multiple Choice Debit Unearned Rent. $12,600. credit Rent Earned, $12,600 O Debit Unearned Rent, $21,000, credit Rent Earned, $21000, Debit Unearned Rent,...
----Uruing Accrued Revenues Information: Assume that Porter Properties Inc., a calendar-year company, rented office space, to be occupied immediately, to Tiger Travel Agency on November 1, 2018, for $5,000 per month. Porter requires Tiger Travel to make a rental payment at the end of every three months. No payment was made on November 1. Required: 1. Prepare the adjusting journal entry necessary for Porter on December 31, 2018. 2. Prepare the entry necessary on January 31, 2019, to record the...
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