On December 31, 2014, the manager of Jordan Creek Apartments noticed that four tenants had not...
On December 31, 2014, the manager of Jordan Creek Apartments noticed that four tenants had not paid their December rent amounting to $500 each. What is the adjusting entry required on December 31, 2014?
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On December 31, 2014, the manager of Jordan Creek Apartments noticed that four tenants had not...
On December 31, 2016, the manager of Jordan Creek Apartments noticed that four tenants had not...
On December 31, 2016, the manager of Jordan Creek Apartments noticed that four tenants had not paid their December rent amounting to $500 each. The manager spoke to each tenant individually and was promised by all 4 that the rent would be paid by January 15, 2017. Assuming the tenants follow through and make their payments by January 15, 2017, Jordan Creek should make the following entry as of December 31, 2016: Rent Receivable (dr) $2.000 Unearned Rental Revenue (cr)...
QUESTION 10 On December 31, 2016, the manager of Jordan Creek Apartments noticed that four tenants...
QUESTION 10 On December 31, 2016, the manager of Jordan Creek Apartments noticed that four tenants had not paid their December rent amounting to $500 each. The manager spoke to each tenant individually and was promised by all 4 that the rent would be paid by January 15, 2017. Assuming the tenants follow through and make their payments by January 15, 2017, Jordan Creek should make the following entry as of December 31, 2016: Cash (dr) $2,000 Rental Receivable...
The Fast &Furious Car Rentals starts business on January 1, 2014. At December 31, 2014, the...
The Fast &Furious Car Rentals starts business on January 1, 2014. At December 31, 2014, the total accounts receivable of the company are $350,000; out of which, management estimates that receivables amounting to $4,500 will turn out to be uncollectible. At February 12, 2015, Astra Ltd who is a receivable of $1,200, becomes bankrupt and nothing can be recovered from them. At December 31, 2015, the accounts receivable show a balance of $475,000. On this date, the company revises the...
Jordan Company’s annual accounting year ends on December 31. It is now December 31, 2018, and...
Jordan Company’s annual accounting year ends on December 31. It
is now December 31, 2018, and all of the 2018 entries have been
made except for the following:
The company owes interest of $900 on a bank loan. The interest
will be paid when the loan is repaid on September 30, 2019. No
interest has been recorded.
On September 1, 2018, Jordan collected six months’ rent of
$7,800 on storage space. At that date, Jordan debited Cash and
credited Deferred...
n December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty:...
n December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty: • The supplies account balance on December 31 is $1,375. The supplies on hand on December 31 are $280. • The unearned rent account balance on December 31 is $9,000 representing the receipt of an advance payment on December 1 of four months’ rent from tenants. • Wages accrued but not paid at December 31 are $3,220. • Fees earned but unbilled at December...
On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty:...
On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty: • The supplies account balance on December 31 is $5,450. The supplies on hand on December 31 are $1,460. • The unearned rent account balance on December 31 is $4,700 representing the receipt of an advance payment on December 1 of four months’ rent from tenants. • Wages accrued but not paid at December 31 are $2,375. • Fees earned but unbilled at December...
Jordan Company's annual accounting year ends on December 31. It is now December 31, 2018, and...
Jordan Company's annual accounting year ends on December 31. It is now December 31, 2018, and all of the 2018 entries have been made except for the following: a. The company owes interest of $760 on a bank loan. The interest will be paid when the loan is repaid on September 30, 2019. No interest has been recorded. b. On September 1, 2018, Jordan collected six months' rent of $5,700 on storage space. At that date, Jordan debited Cash and...
Kasten Inc. provides paid vacations to its employees. At December 31, 2014, 28 employees have each...
Kasten Inc. provides paid vacations to its employees. At December 31, 2014, 28 employees have each earned 2 weeks of vacation time. The employees’ average salary is $674 per week. Prepare Kasten’s December 31, 2014, adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018....
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries a. The unadiusted balance in Supplies was $820 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $100 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Hillside Apartments, Inc., adjusts and closes its books each December 31. Assume the accounts for all...
Hillside Apartments, Inc., adjusts and closes its books each December 31. Assume the accounts for all prior years have been properly adjusted and closed. Following are some of the company's account balances prior to adjustment on December 31, 2018: Problem 3-3 Prepare adjusting entries (2.0.4) Credits HILLSIDE APARTMENTS, INC. Partial Trial Balance December 31, 2018 Debits Prepaid Insurance $7,500 Supplies on Hand 7,000 Buildings 255,000 Accumulated Depreciation- Buildings Unearned Rent Salaries Expense 69,000 Rental Revenue $96.000 2,700 277,500 e ncial...
On December 31, 2016, the manager of Jordan Creek Apartments noticed that four tenants had not paid their December rent amounting to $500 each. The manager spoke to each tenant individually and was promised by all 4 that the rent would be paid by January 15, 2017. Assuming the tenants follow through and make their payments by January 15, 2017, Jordan Creek should make the following entry as of December 31, 2016: Rent Receivable (dr) $2.000 Unearned Rental Revenue (cr)...
Jordan Company’s annual accounting year ends on December 31. It
is now December 31, 2018, and all of the 2018 entries have been
made except for the following:
The company owes interest of $900 on a bank loan. The interest
will be paid when the loan is repaid on September 30, 2019. No
interest has been recorded.
On September 1, 2018, Jordan collected six months’ rent of
$7,800 on storage space. At that date, Jordan debited Cash and
credited Deferred...
Jordan Company's annual accounting year ends on December 31. It is now December 31, 2018, and all of the 2018 entries have been made except for the following: a. The company owes interest of $760 on a bank loan. The interest will be paid when the loan is repaid on September 30, 2019. No interest has been recorded. b. On September 1, 2018, Jordan collected six months' rent of $5,700 on storage space. At that date, Jordan debited Cash and...
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries a. The unadiusted balance in Supplies was $820 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $100 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Hillside Apartments, Inc., adjusts and closes its books each December 31. Assume the accounts for all prior years have been properly adjusted and closed. Following are some of the company's account balances prior to adjustment on December 31, 2018: Problem 3-3 Prepare adjusting entries (2.0.4) Credits HILLSIDE APARTMENTS, INC. Partial Trial Balance December 31, 2018 Debits Prepaid Insurance $7,500 Supplies on Hand 7,000 Buildings 255,000 Accumulated Depreciation- Buildings Unearned Rent Salaries Expense 69,000 Rental Revenue $96.000 2,700 277,500 e ncial...
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