Data relating to the balances of various accounts affected by adjusting or closing entries appear below . Please journalize the missing entries.   Uneraned Rent at 1/1/2019 was $5,300 and at 12/31/2019 it was $8,000. The records indicate cash receipts from rental sources during 2019 amounted to $42,500, all of which was credited to Unearned Rent Account. Prepare the missing adjusting entry.   Allowance for Doubtful Accounts on 1/1/2019 was $50,000. The balance in the Allowance account on 12/31/2019 after making the annual adjusting entry was $58,000 and during 2019 bad debts written-off amounted to $30,000. Journalize the missing adjusting entry.   Accumulated Depreciation-Equipment at 1/1/2019 was $210,000. At 12/31/2019, the balance of the account was $260,000. During 2019, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 75% depreciated when sold. Journalize the missing adjusting entry.   Retained earnings at 1/1/2019 was $140,000 and at 12/31/2019 it was $210,000. During 2019, cash dividends of $50,000 were paid and a stock dividens of $60,000 was issued. Journalize the missing adjusting entry.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Data relating to the balances of various accounts affected by adjusting or closing entries appear below . Please journalize the missing entries.

 

Uneraned Rent at 1/1/2019 was $5,300 and at 12/31/2019 it was $8,000. The records indicate cash receipts from rental sources during 2019 amounted to $42,500, all of which was credited to Unearned Rent Account. Prepare the missing adjusting entry.

 

Allowance for Doubtful Accounts on 1/1/2019 was $50,000. The balance in the Allowance account on 12/31/2019 after making the annual adjusting entry was $58,000 and during 2019 bad debts written-off amounted to $30,000. Journalize the missing adjusting entry.

 

Accumulated Depreciation-Equipment at 1/1/2019 was $210,000. At 12/31/2019, the balance of the account was $260,000. During 2019, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 75% depreciated when sold. Journalize the missing adjusting entry.

 

Retained earnings at 1/1/2019 was $140,000 and at 12/31/2019 it was $210,000. During 2019, cash dividends of $50,000 were paid and a stock dividens of $60,000 was issued. Journalize the missing adjusting entry.

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