Homework Answers
| Adjusting Entry | |||||
| Date | Particulars | Debit | Credit | ||
| Mar-31 | Unearned Rent Revenue | $ 2,900.00 | |||
| To Rent Revenue | $ 2,900.00 | ||||
| ($ 8700 x 1/3) | |||||
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Question 2 The ledger of Company X at March 31, 2017 includes the following: Not yet...
Exercise 3-7 The ledger of Tamarisk, Inc. on March 31 of the current year includes the...
Exercise 3-7 The ledger of Tamarisk, Inc. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $ 3,600 2,900 18.750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Uneamed Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,700 25,000 10,800 61,000 0 18.000 An analysis of the accounts shows the following The equipment depreciates $300 per month 2. One-third of the unearned rent...
The ledger of Bourque Rental Agency on March 31, 2017, includes the following selected accounts before...
The ledger of Bourque Rental Agency on March 31, 2017, includes the following selected accounts before preparing quarterly adjusting entries: Debit Credit Supplies $14,400 Prepaid insurance 3,600 Equipment 37,800 Accumulated depreciation—equipment $ 9,450 Unearned rent revenue 9,300 Notes payable 30,000 Rent revenue 30,000 Salaries expense 14,000 An analysis of the accounts shows the following: 1.The equipment has a four-year useful life. 2.One quarter of the unearned rent is still unearned on March 31, 2017. 3.The note payable has an interest...
The ledger of Pharoah Company on March 31 of the current year includes the selected accounts...
The ledger of Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $8,700 Supplies Prepaid Insurance 10,440 Equipment 72,500 Accumulated Depreciation-Equipment $24,360 Notes Payable Unearned Rent Revenue 58,000 35,960 174,000 Rent Revenue Interest Expense Salaries and Wages Expense 40,600 An analysis of the accounts shows the following 1. The equipment depreciates $812 per month 2. Half of the unearned rent revenue was earned during the quarter. 3....
The ledger of Greene Rental Agency on March 31 of the current year includes the following...
The ledger of Greene Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $ 2,700 2,100 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation - Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 6,300 15,000 6,975 45,000 -0- 10,500 An analysis of the accounts shows the following. 1. The equipment depreciates $188 per month. 2. One-third of the unearned rent was...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $7,500 9,000 62,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $21,000 50,000 31,000 150,000 0 35,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 700 per month. 2. Half of the unearned rent revenue...
The ledger of Blossom Company on March 31 of the current year includes the selected accounts...
The ledger of Blossom Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $7,800 Prepaid Insurance 9,360 65,000 Equipment Accumulated Depreciation-Equipment $21,840 Notes Payable Unearned Rent Revenue 52,000 32,240 156,000 Rent Revenue Interest Expense Salaries and Wages Expense 36,400 An analysis of the accounts shows the following. 1. The equipment depreciates $728 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3....
The ledger of Riverbed Corp. on March 31 of the current year includes the following selected...
The ledger of Riverbed Corp. on March 31 of the current year includes the following selected accounts before quarterly adjusting entries have been prepared: Credit Debit $3,360 2.920 25,650 157.000 Prepaid Insurance Supplies Equipment FV-OCI Investments Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $7,320 20,000 8.250 58,800 -0- 14,700 An analysis of the accounts shows the following: 1. 2. 3. 4. 5. The equipment depreciation is $305 per month. One half of...
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below...
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $8,400 Prepaid Insurance 10,080 Equipment 70,000 Accumulated Depreciation-Equipment $23,520 Notes Payable 56,000 Unearned Rent Revenue 34,720 Rent Revenue 168,000 Interest Expense Salaries and Wages Expense 39,200 An analysis of the accounts shows the following. 1. The equipment depreciates $784 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
The ledger of Crane Rental Agency on March 31 of the current year includes the selected...
The ledger of Crane Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit $ 14,400 2,900 25,000 $ 8.100 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 23,000 12,600 61,000 0 11,000 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $400 per month. One-third of the unearned rent...
Exercise 3-7 The ledger of Tamarisk, Inc. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $ 3,600 2,900 18.750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Uneamed Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,700 25,000 10,800 61,000 0 18.000 An analysis of the accounts shows the following The equipment depreciates $300 per month 2. One-third of the unearned rent...
The ledger of Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $8,700 Supplies Prepaid Insurance 10,440 Equipment 72,500 Accumulated Depreciation-Equipment $24,360 Notes Payable Unearned Rent Revenue 58,000 35,960 174,000 Rent Revenue Interest Expense Salaries and Wages Expense 40,600 An analysis of the accounts shows the following 1. The equipment depreciates $812 per month 2. Half of the unearned rent revenue was earned during the quarter. 3....
The ledger of Greene Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $ 2,700 2,100 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation - Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 6,300 15,000 6,975 45,000 -0- 10,500 An analysis of the accounts shows the following. 1. The equipment depreciates $188 per month. 2. One-third of the unearned rent was...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $7,500 9,000 62,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $21,000 50,000 31,000 150,000 0 35,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 700 per month. 2. Half of the unearned rent revenue...
The ledger of Blossom Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $7,800 Prepaid Insurance 9,360 65,000 Equipment Accumulated Depreciation-Equipment $21,840 Notes Payable Unearned Rent Revenue 52,000 32,240 156,000 Rent Revenue Interest Expense Salaries and Wages Expense 36,400 An analysis of the accounts shows the following. 1. The equipment depreciates $728 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3....
The ledger of Riverbed Corp. on March 31 of the current year includes the following selected accounts before quarterly adjusting entries have been prepared: Credit Debit $3,360 2.920 25,650 157.000 Prepaid Insurance Supplies Equipment FV-OCI Investments Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $7,320 20,000 8.250 58,800 -0- 14,700 An analysis of the accounts shows the following: 1. 2. 3. 4. 5. The equipment depreciation is $305 per month. One half of...
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $8,400 Prepaid Insurance 10,080 Equipment 70,000 Accumulated Depreciation-Equipment $23,520 Notes Payable 56,000 Unearned Rent Revenue 34,720 Rent Revenue 168,000 Interest Expense Salaries and Wages Expense 39,200 An analysis of the accounts shows the following. 1. The equipment depreciates $784 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
The ledger of Crane Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit $ 14,400 2,900 25,000 $ 8.100 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 23,000 12,600 61,000 0 11,000 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $400 per month. One-third of the unearned rent...
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