Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journal entry worksheet The Krug Company collected $9,600 rent in advance on November 1 , debiting Cash and crediting Unearned Rent Revenue. The tenant was

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Journal entry worksheet The Krug Company collected $9,600 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. Note: Enter debits before credits. QS 3-10 (Algo) Unearned (deferred) revenues adjustments LO P2 Record adjusting joumal entries for each separate case below for year ended December 31. Assume no other adjusting entries aro made during the year: a. Unearned Rent Revenue. The Krug Company collected $9,600 rent in advance on November 1, debiting Cash and crediting Uneamed Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began on November 1 b. Unearned Services Revenue. The company charges $105 per insect treatment. A customer paid $420 on October 1 in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At year-end, the company has applied three treatments for the customer. c. Unearned Rent Revenue. On September 1, a client paid the company $31,200 cash for six months of rent in advance and took occupancy immediately. The compony recorded the cash as Unearned Rent Revenue. Journal entry worksheet The Krug Company collected $9,600 rent in advance on November 1 , debiting Cash and crediting Unearned Rent Pevenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. Notes Enter debits before credts On September 1 , a client paid the company $31,200 cash for six months of rent in advance and took occupancy immediately. The company recorded the cash as Unearned Rent Revenue. Note: Enter debits before credits. Journal entry worksheet The company charges $105 per insect treatment. A customer paid $420 on October 1 in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At year-end, the company has applied three treatments for the customer. Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Alan Melville

2nd Edition

0273634399, 978-0273634393

More Books

Students also viewed these Accounting questions

Question

Describe t he t wo m ain t ypes of ex ercise. (p. 1 84)

Answered: 1 week ago