Safari File Edit View History Bookmarks Window Help $ D ~ Q 8 4 Mon Jun 6 1:18 AM . . mylab.pearson.com Courses Do Homework - Homework on Ch#3 Dashboard ACCT1036-Summer2022 Israh Zeb 06/06/22 1:18 AM ? Homework: Homework on Ch#3 Question 1, E3-8 (a) HW Score: 0%, 0 of 7 points Part 1 of 7 O Points: 0 of 1 Save Journalize the adjusting entry needed at December 31 for each of the following independent situations. i (Click the icon to view the situations.) a. Record the transaction for unearned rent revenue earned. (Round your answer to the nearest whole dollar. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts Debit Credit a. Calculator Ask my instructor Clear all Check answer JUNSafari File Edit View History Bookmarks Window Help $ D ~ Q 8 4 Mon Jun 6 1:18 AM . . mylab.pearson.com Courses Do Homework - Homework on Ch#3 Dashboard ACCT1036-Summer2022 Israh Zeb 06/06/22 1:18 AM Homework: Homework on Ch#3 Question 1, E3-8 (a) HW Score: 0%, 0 of 7 points Part 1 of 7 O Points: 0 of 1 Save Journalize the adjusting entry needed at December 31 for each of the following independent situations. i (Click the icon to view the situations.) - X More info a. Record the transaction for unearned rent revenue the journal entry table.) Accounts a. On November 1, when we collected $66,000 rent in advance, we debited Cash and credited Unearned Rent Revenue. The tenant was paying one year's rent in advance. At December 31, we must account for the amount of a. rent we have earned. b. Interest revenue of $2,800 has been earned but not yet received on a $45,000 note receivable held by the business. c. Salary expense is $9,300 per day-Monday through Friday-and the business pays employees each Friday. This year December 31 falls on a Thursday. d. Equipment was purchased last year at a cost of $425,000. The equipment's useful life is five years. It will have no value after five years. Record the year's amortization. e. On June 1, when we paid $7,000 for a one-year insurance policy, we debited Prepaid Insurance and credited Cash. f. The business owes interest expense of $8,200 that it will pay early in the next period. g. The unadjusted balance of the Supplies account is $16,500. The total cost of supplies remaining on hand on December 31 is $8,000 Print Done Calculator Ask my instructor Clear all Check answer JUN 6Safari File Edit View History Bookmarks Window Help $ D ~ Q 8 4 Mon Jun 6 1:18 AM . . mylab.pearson.com Courses Do Homework - Homework on Ch#3 Dashboard ACCT1036-Summer2022 Israh Zeb 06/06/22 1:18 AM Homework: Homework on Ch#3 Question 2, T13-2 (similar to) HW Score: 0%, 0 of 7 points Part 1 of 2 O Points: 0 of 1 Save Total Paint Services earned $160,000 of service revenue during 2018. Of the $160,000 earned, the business received $138,000 in cash. The remaining amount, $22,000, was still owed by customers as of December 31. In addition, Total Paint Services incurred $72,000 of expenses during the year. As of December 31, $14,000 of the expenses still needed to be paid. In addition, Total Paint Services prepaid $2,000 cash in December 2018 for expenses incurred during the next year. 1. Determine the amount of service revenue and expenses for 2018 using a cash-basis accounting system. 2. Determine the amount of service revenue and expenses for 2018 using an accrual-basis accounting system. 1. Determine the amount of service revenue and expenses for 2018 using a cash-basis accounting system. Cash basis Service revenue Expenses Calculator Ask my instructor Clear all Check answer JUN