Homework Answers
Solution:
| Journal Entries | |||
| Date | Particulars | Debit | Credit |
| 31-Dec | Rent expense Dr | $13,000.00 | |
| To Prepaid rent | $13,000.00 | ||
| (To record rent expense) |
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Suppose a company rents office space for one year, paying $39,000 ($3,250/month) in advance on September...
Suppose a company rents office space for one year, paying $27.000 (52.250/month) in advance on September...
Suppose a company rents office space for one year, paying $27.000 (52.250/month) in advance on September 1. Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet General Journal Credit No 1 Date December 31 Debit 9,000 Rent expense Prepaid rent 9,000
Suppose a company rents office space for one year, paying $27,000 ($2,250/month) in advance on September...
Suppose a company rents office space for one year, paying $27,000 ($2,250/month) in advance on September 1. Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal Entry Worksheet Record the adjusting entry on December 31.
A company purchases one year of flood insurance in advance on May 1, paying $48.000 ($4,000/month)....
A company purchases one year of flood insurance in advance on May 1, paying $48.000 ($4,000/month). Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required first account field.) 8 00:25:42 View transaction list Journal entry worksheet Record the adjusting entry on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record Rent-A-Car's adjusting entry on December 31. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general journal
Suppose a customer rents a vehicle for three months from Commodores Rental on November 1, paying...
Suppose a customer rents a vehicle for three months from
Commodores Rental on November 1, paying $5,700
($1,900/month).
Required:
1.&2. Record the necessary entries in the Journal
Entry Worksheet below.
3. Calculate the year-end adjusted balances of the
Deferred Revenue and Service Revenue accounts (assuming the balance
of Deferred Revenue at the beginning of the year is
$0).
Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal...
Required information The following information applies to the questions displayed below.) Suppose Hoosiers, a specialty clothing...
Required information The following information applies to the questions displayed below.) Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $19,200 ($1,600/month) in advance on October 1. -34 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the payment of rent...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date December 31 Debit 3,225 Rent expense Prepaid rent 3.225
At the beginning of the period, a company reports a balance in office supplies of $450....
At the beginning of the period, a company reports a balance in office supplies of $450. During the period, the company purchases an additional $3,900 of office supplies for cash. By the end of the period, only $950 of office supplies remains Record the period-end adjusting entry. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the period-end adjusting entry. Note: Enter debits before...
On January 1, 2021. Winn Heat Transfer leased office space under a three-year operating lease agreement....
On January 1, 2021. Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual lease payments of $93.000 each, beginning December 31, 2021. and at each December 31 through 2023. The lessor HVAC Leasing calculates lease payments based on an annual Interest rate of 8% Winn also paid a $204,000 advance payment at the beginning of the lease. With permission of the owner. Winn made structural modifications to the building before occupying the...
2 A company borrows $28,000 with 8% interest on October 1, 2021. This amount plus interest...
2 A company borrows $28,000 with 8% interest on October 1, 2021. This amount plus interest is due on September 30, 2022 Record the adjusting entry on December 31, 2021 (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the adjusting entry on December 31, 2021. Note: Enter debits before credits General Journal Debit Credit Date...
Suppose a company rents office space for one year, paying $27.000 (52.250/month) in advance on September 1. Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet General Journal Credit No 1 Date December 31 Debit 9,000 Rent expense Prepaid rent 9,000
A company purchases one year of flood insurance in advance on May 1, paying $48.000 ($4,000/month). Record the adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required first account field.) 8 00:25:42 View transaction list Journal entry worksheet Record the adjusting entry on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record Rent-A-Car's adjusting entry on December 31. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general journal
Suppose a customer rents a vehicle for three months from
Commodores Rental on November 1, paying $5,700
($1,900/month).
Required:
1.&2. Record the necessary entries in the Journal
Entry Worksheet below.
3. Calculate the year-end adjusted balances of the
Deferred Revenue and Service Revenue accounts (assuming the balance
of Deferred Revenue at the beginning of the year is
$0).
Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal...
Required information The following information applies to the questions displayed below.) Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $19,200 ($1,600/month) in advance on October 1. -34 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the payment of rent...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date December 31 Debit 3,225 Rent expense Prepaid rent 3.225
At the beginning of the period, a company reports a balance in office supplies of $450. During the period, the company purchases an additional $3,900 of office supplies for cash. By the end of the period, only $950 of office supplies remains Record the period-end adjusting entry. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the period-end adjusting entry. Note: Enter debits before...
On January 1, 2021. Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual lease payments of $93.000 each, beginning December 31, 2021. and at each December 31 through 2023. The lessor HVAC Leasing calculates lease payments based on an annual Interest rate of 8% Winn also paid a $204,000 advance payment at the beginning of the lease. With permission of the owner. Winn made structural modifications to the building before occupying the...
2 A company borrows $28,000 with 8% interest on October 1, 2021. This amount plus interest is due on September 30, 2022 Record the adjusting entry on December 31, 2021 (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the adjusting entry on December 31, 2021. Note: Enter debits before credits General Journal Debit Credit Date...
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