Rent Unearned Adjusting Entry

Balance Sheet - About.com Inventors
INSTRUCTIONS FOR BALANCE SHEET. Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. ... Read Article

CHAPTER 3
Record the adjusting entry related to unearned rent at 12/31/01. 4. Record the adjusting entry related to uncollected rent at 12/31/01. 5. Close the Rent Revenue account. 6. Prepare reversing entries as of January 1, 2002. 7. ... Retrieve Doc

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If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account. Unearned rent, representing rent for the next six months’ occupancy, would be reported on the landlord’s balance . sheet as a(n) Asset. ... Retrieve Document

Stud. Study Guide, 4th Ed. Fin. Acctg. Winter 01/02
To illustrate an unearned revenue adjusting entry, the adjusting entry to record the rent earned in October is: Unearned Rent Revenue 1,000. Rent Revenue ($3,000 X 1/3) 1,000. Accruals. 12. Stud. Study Guide, 4th ed. Fin. Acctg. winter 01/02 Author: john wiley Last modified by: ... Visit Document

PRACTICE TEST -- The Following Is A Practice Test For ...
PRACTICE TEST -- The following is a practice test for Accounting 1, 1 Which of the following is a type of adjusting journal entry? A) Prepaid (Deferred) expenses. Unearned Rent, debit, $7,200; Rent Revenue, credit, ... Retrieve Content

Chapter 3 Errors In Adjusting Entries - Cerritos College
Chapter 3 - Effect of Omitting Adjusting Journal Entries Deferrals -- The cash has changed hands. The cost has been recorded as assets or liabilities and but will be recognized as expenses ... Access Doc

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Adjusting entry for unearned rent. b 97. Adjusting entry for supplies. d 98. Effect of closing entries. b *99. Calculate cash received for interest. b *100. Calculate cash paid for salaries. d *101. Calculate cash paid for insurance. c *102. ... View This Document

ACCOUNTING 30S WORKSHEET ON ADJUSTING ENTRIES Put On Your ...
ACCOUNTING 30S WORKSHEET ON ADJUSTING ENTRIES Put on your thinking caps and sharpen your pencils boys and girls—it's time to practice The $600 was credited to the Unearned Rent account. e. Prepare the adjusting entry to record supplies expense ... Read Content

12 Work Sheet And Adjusting Entries - Cengage Learning
An adjusting entry is made for the amount used (total minus amount left) by debiting Supplies Expense and crediting Supplies. 2. For unearned Work Sheet and Adjusting Entries . Copyright © Houghton Mifflin Company. All rights reserved. 2 ... Document Retrieval

Green Realty should make the following adjusting entry on July 31: A. debit Unearned Rent, $4,000; credit Rental Revenue, $4,000. B. debit Rental Revenue, $4,000; credit Unearned Rent, The receipt was recorded as a credit to Unearned Fees. What adjusting entry is required on December 31, 2012? ... Retrieve Content

Question 1 (1 Point) - CIT Department At CSN
Financial statements will be prepared on July 31. REM Real Estate should make the following adjusting entry on July 31: Debit Unearned Rent, $4,000; Credit Rent Revenue, $4,000. Debit Rent Revenue, $4,000; Credit Unearned Rent, $4,000. Debit Unearned Rent, $24,000; Credit Question 1 (1 point ... Read Full Source

Assignment 6: Adjusting Journal Entries And Worksheets
Assignment 6 – Adjusting Journal Entries and Worksheets Accounting 11 Page 1 of 14 2002 Unearned Rental Revenue Revenues 3000 Rental Revenue 3001 Interest Revenue Expenses an adjusting journal entry . ... Fetch Doc

Deferral - Wikipedia, The Free Encyclopedia
A Deferral, in accrual accounting, As a result, adjusting entries are required to reconcile a flow of cash interest, rent. Financial ratios are based on the total assets excluding deferred charges since they have no physical substance ... Read Article

Sarah Baumert - YouTube
Sarah Baumert Videos; Playlists; Channels; In this tutorial we learn how to create an adjusting entry for unearned revenue using subscription cash that In this financial accounting tutorial we cover adjusting entries for prepaid expenses like insurance policies or rent leases paid in ... View Video

4. Notes Receivable Journal Entries - YouTube
Financial Accounting: Notes Receivable Journal Entries. ... View Video

Rent Revenue 300 Unearned rent revenue 300 Sosa Inc. Rent expense 300 or Prepaid rent 300. Cash The proper adjusting entry on December 31, 2003, is: Rent receivable 33,500. Unearned rent revenue 2,200. Rent revenue 35,700. ... Get Content Here

66124 AppB B1-B4
Unearned Rent 360 Adjusting entry (to transfer amount earned to proper revenue account): Dec. 31 Unearned Rent 120 Rent Revenue 120 Closing entry (to close income statement accounts with credit balances): Dec. 31 Fees Earned XXXX Rent Revenue 120 ... Fetch This Document

Long Term Assets And Investments On The Balance Sheet
Long term investments and carrying values on the balance sheet are easy to understand. Both long term investments and long term assets represent assets owned by a company that may not be easily converted to cash but still have value. ... Read Article

Lesson 12: Adjusting Entries - BeatsBlueprint
Lesson 12: Adjusting Entries adjusting entry for $6,000: Prepaid Rent Thus, your ending prepaid rent balance would be property reflected at $18,000. entry: Unearned Revenue- Unearned Revenue represents when a company is paid for goods ... Retrieve Full Source

Adjusting Entries For - Faculty Personal Web Page Listings
Adjusting Entries for the Quarter 1. Go to www.pklsoftware.com. 2. and the following adjusting entry financial data below, I. Rent on the other property used by the business was prepaid for six months in advance. ... Access Document

BAT 4M: Chapter 3 ANSWERS TO QUESTIONS
BAT 4M: Chapter 3 ANSWERS TO QUESTIONS 01. (a) Under the time period assumption, adjusting entry expenses are debited (to increase them) and assets are credited Unearned rent revenue ... Retrieve Document

Adjusting entries - Wikipedia, The Free Encyclopedia
Adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned The adjusting entry ... Read Article

Adjusting Entries - Austin Community College
Adjusting Entries The revenue recognition principle states that revenues are recorded when earned. The matching principle states that expenses are matched to the accounting period, when the revenue they helped ... Content Retrieval

CHAPTER 4
Unearned Rent Revenue 800 To record rent not yet earned. Depreciation - Store Equipment 4625 Accum. Dec. 31 Adjusting entry 150Dec. 31 P & L Summary 900 1050 1050. CHAPTER 4: ADJUSTING THE ACCOUNTS AND PREPARING FINANCIAL STATEMENTS 4.14 ... Get Content Here

2-1 Indicate Whether Each Of The Following Statements Is True ...
4-1 (SO 3) The ledger of Heavenly Cruiselines includes the following accounts. Explain why each account may indicate (a) the type of adjusting entry (prepaid expenses, unearned revenues, accrued revenues, and accrued expenses) and (b) the One-third of the unearned rent was earned during ... View This Document