Question: need help with journal entrys and solutions REQUIRED: PREPARE THE APPROPRIATE ADJUSTING JOURNAL ENTRY UNDER EACH OF THE FOLLOWING SITUATIONS: WILSON PAIO 54.000 ON OCTOBER
REQUIRED: PREPARE THE APPROPRIATE ADJUSTING JOURNAL ENTRY UNDER EACH OF THE FOLLOWING SITUATIONS: WILSON PAIO 54.000 ON OCTOBER 1ST FOR S MONTHS OF RENT (OCT THRU FEB. THE BOOKKEEPER DEBITED PREPAID RENT IN THE AMOUNT OF 14,000 RECORD THE ADJUSTING JOURNAL ENTRY AT DECEMBER 31ST. POINTS) THOMAS PAID 57,200 ON NOVEMBER 1ST FOR 6 MONTHS OF RENT (NOV TORU APR THE BOOKKEEPER DEBITED RENT EXPENSE IN THE AMOUNT OF 37,200 RECORD THE ADJUSTING JOURNAL ENTRY AT DECEMBER 31ST IS POINTS) 2 N DALLAS RECEIVED 59,000 ON NOVEMBER 18TH FROM A CUENT FOR SERVICES TO BE PROVIDED AT A LATER DATE THE BOOKKEEPER CREDITED UNEARNED REVENUE IN THE AMOUNT OF $9.000. THE SERVICES WERE PROVIDED ON DECEMBER 20TH. RECORD THE ADJUSTING JOURNAL ENTRY AT DECEMBER 31ST. (5 POINTS) NO WENDY RECEMED $3,800 ON DECEMBER 18TH FROM A CLIENT FOR SERVICES TO BE PROVIDED AT A LATER DATE THE BOOKKEEPER CREDITED REVENUE IN THE AMOUNT OF $3,800. THE SERVICES HAVE NOT BEEN PROVIDED AS OF DECEMBER 31ST RECORD THE ADJUSTING JOURNAL ENTRYAT DECEMBER 31ST(S POINTS)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
