Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following...

Question

Question

Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year (Reco debits first, then credits Exclude explanations from any journal entries ) (Click the icon to view the transactions.) a. On August 1, $4,500 rent was collected in advance. Cash was debited and Unearned rent revenue was credited The tenant was paying six months rent in advance Journal Entry Debit Credit Date Accounts Oct Choose from any list or enter any number in the input fields and then click Check Answer

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Journal entry
Date	Accounts	Debit	Credit
Oct	Unerned rent revenue	2250	-
	Rent revenue	-	2250

It has been 3 months from August to October and total rent for 3 months = 4500/2

Add a comment

Answer 2

Similar Homework Help Questions

Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following...

Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) a. On August 1, $3,600 rent was collected in advance. Cash was debited and Uneamed rent revenue was credited. The tenant was paying six months' rent in advance. Journal Entry Date Accounts Debit Credit...
Journalize the adjusting entry needed at December 31, the fiscal year-end, for each of the following independent situations

Journalize the adjusting entry needed at December 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) On October 1, $4,500 rent was collected in advance. Cash was debited and Unearned rent revenue was credited. The tenant was paying six months' rent in advance. The business holds a $25,000 note receivable. Interest revenue of $875 has been earned on the...
Journalize adjusting entry needed at December 31, the fiscal year-end, for each of the following independent situations.

Journalize adjusting entry needed at December 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) a. On October 1, $6,000 rent was collected in advance. Cash was debited and Unearned rent revenue was credited. The tenant was paying six months' rent in advance. b. The business holds a $50,000 note receivable. Interest revenue of $1,030 has been earned on...

Homework: Homework - Chapter 03 Save 2 of 5 (0 complete) Score: 0 of 2 pts...

Homework: Homework - Chapter 03 Save 2 of 5 (0 complete) Score: 0 of 2 pts E3-18A (similar to) HW Score: 0%, 0 of 10 pts Question Help Joumalize the adjusting entry needed at May 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from anyjournal entries.) Click the icon to view the transactions.) a. On March 1, $4,500 rent was...
Journalize the adjusting entries for the following adjustments at March 31, the end of the accounting...

Journalize the adjusting entries for the following adjustments at March 31, the end of the accounting period, omitting explanations. (Record debits first, then credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) est a. Employoe salaries owed for Monday through Thursday of a five-day workweek, $8,000. Journal Entry Accounts Date Debit Credit Mar Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts remaining Clear All...
Consider the following independent situations at December 31: (Click the icon to view the situations.) Journalize...

Consider the following independent situations at December 31: (Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries. a. On October 1, a business collected $3,900 rent in advance, debiting Cash and crediting Unearned Revenue. The t Date Accounts and Explanation Debit Credit (a) Dec. 31 b. Salaries expense is $1,700 per day—Monday through Friday-and the business pays employees each Friday. This Date Accounts...

Record adjusting journal entries for each of the following for year ended December 31. Assume no...

Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year a. Unearned Rent Revenue. The Krug Company collected $7,800 rent in advance on November 1, debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. b. Unearned Services Revenue. The company charges $90 per insect treatment. A customer paid $360 on October 1 in advance...
Fill in with the info given. Save Homework: Chapter 3 part B homework Score: 0 of...

Fill in with the info given. Save Homework: Chapter 3 part B homework Score: 0 of 1 pt 2 of 8 (0 complete) E3-22 (similar to) HW Score: 0%, 0 of 9 p Question Help Consider the following independent situations at December 31: (Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries. (Record debits first, then credits. Select the explanation on the last...
Consider the following independent situations at December 31:

Consider the following independent situations at December 31: Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On October 1, a business collected $6,900 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. On December 31, the business must account for the amount of rent...

Record adjusting journal entries for each of the following for year ended December 31 Assume no...

Record adjusting journal entries for each of the following for year ended December 31 Assume no other adjusting entries are made during the year. a. Unearned Rent Revenue. The Krug Company collected $7.800 rent in advance on November 1. debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. b. Unearned Services Revenue. The company charges $90 per insect treatment. A customer paid $360 on October 1 in advance...

Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following...

Homework Answers