S3-4 (similar to) E Question Help Home Furniture Store's Prepaid rent balance is $9,000 on October...
On October 1, Ace Sport of Toledo prepaid six months of rent, $3,900. Read the requirements. 1 Requirements Requirement 1. Record the journal entry for the October 1 payment. (Record debits first, then credits. Select the explanation on the last line of the journal entry Date Accounts and Explanation Debit Credit Oct. 1 1. Record the journal entry for the October 1 payment. 2. Record the adjusting entry required at October 31. 3. Using T-accounts, post the journal entry and...
Answer the following questions about prepaid expenses: a. On October 1, Pegassi Motors Service prepaid $ 6000 for six months' rent. Give the adjusting entry to record rent expense at October 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at October 31. High and Low adjusts the accounts only at October 31, the end of its fiscal year. b. On October 1, Pegassi motors paid...
Question Help Answer the following questions about prepaid expenses a. On October 1, High and Low Tree Service prepaid S7 200 for six months' rent. Give the adjusting entry to record rent expense at October 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at October 31 High and Low adjusts the accounts only at October 31, the end of its fiscal year b. On October...
On May 1, Nick's Sport Shop of Toledo prepaid six months of rent $4.800 Read the requirements Requirement 1. Record the journal entry for the May 1 payment Record debits first, then credits Select the explanation on the lastne of the journal entry table> Date Accounts and Explanation Debit Credit May 1 Requirement 2. Record the adjusting entry required at May 31 (Record debits first the credits Select the explanation on the last line of the journal entry table Date...
Save Homework: Chapter 3, Part 1 Score: 0 of 3 pts 3 of 5 (2 complete) HW Score: 26.47%, 4.5 of 17 pts S3-7 (similar to) Question Help Answer the following questions about prepaid expenses: a. On October 1, Paradise Tree Service prepaid $4,200 for six months' rent. Give the adjusting entry to record rent expense at October 31, Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their...
On October 1, 2024, Kitchen Design paid $15,000 for store rent covering the six-month period ending March 31, 2025. Requirements 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. 2. Record the December 31, 2024 adjusting entry. Requirement 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation...
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...
On September 1. Nick's Sport Shop of Toledo prepaid six months of rent, 55,700. Read the requirements ne Way W WW WWW Date Accounts and Explanation Debit Credit Sep 1 Prepaid Rent 200 Cash 5.700 To record rent paid in advance Requirement 2. Record the adjusting entry required at September 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Sep 30 Rent Expense Prepaid Rent...
Answer the following questions about prepaid expenses a. On March 1, East and West Tree Service prepaid $5.400 for six month rent. Give the dusting entry to record rent expense at March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved and show their balances of March 31. East and West adjust the accounts only at March 31, the end of its fiscal year, On March 1, East and West...
Bob's Repairs Shop's。ice supplies balance is S 1 900 on November 1 and the balance in Office suples expense is so on No ember 3 post the adjusting entry on November 30 for the supplies used Compute the balances of the two accounts involved on November 30 SSO of urple ae on hand Ja 1 e and Journalize the adjusting entry (Record debits first, then credits Exclude explanations from any journal entries.) Journal Entry Debit Credit Date Accounts Nov Choose...