On October 1, Vista View Company rented warehouse space to a tenant for $2,100 per month and received $10,500 for five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting perlod ends on December 31. The Unearned Rent account balance at the end of December, after adjustment, should be: Multiple Choice $10,500. $6,300. $2,100. $8,400. $4,200.

On July 1, 2020, Shroff Company leased a warehouse building under a 10-year lease agreement. The lease requires quarterly lease payments of $4,500. The first lease payment is due on September 30, 2020. The lease was reported as a finance lease using an 8% annual interest rate. a. Prepare the journal entry to record the commencement of the lease on July 1, 2020. b. Prepare the journal entries that would be necessary on September 30 and December 31, 2020. c. Post the entries from parts a and b in their appropriate T-accounts. d. Prepare a financial statement effects template to show the effects template to show the effects of the entries from parts a and b on the balance sheet and income statement.

Ecco Company sold $128,000 of kitchen appliances with six-month warranties during September. The cost to repair defects under the warranty is estimated at 7% of the sales price. On October 15, a customer required a $100 part replacement, plus $80 labor under the warranty. a. Provide the journal entry for the estimated expense on September 30. If an amount box does not require an entry, leave it blank. b. Provide the journal entry for the October 15 warranty work. If an amount box does not require an entry, leave it blank.

Required information Skip to question   [The following information applies to the questions displayed below.]   On November 1, 2022, Gordon Company collected $9,660 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30, 2023, at which time the contract may be renewed.    c. Suppose the advance collection received on November 1, 2022, covered an 24-month lease period at the same amount of rent per month. How should Gordon Company report the unearned rent amount on its December 31, 2022, balance sheet? Current liability? Noncurrent liability?

Emperor Pool Services provides pool cleaning and maintenance services to residential clients. It offers a one-year warranty on all services. Review each of the transactions: A. March 31: Emperor provides cleaning services for 25 pools during the month of March at a sales price per pool of $610 cash. Emperor records warranty estimates when sales are recognized and bases warranty estimates on 1 percent of sales. B. April 5: A customer files a warranty claim that Emperor honors in the amount of $130 cash. C. April 13: Another customer, J. Jones, files a warranty claim that Emperor does not honor due to customer negligence. D. June 8: J. Jones files a lawsuit requesting damages related to the dishonored warranty in the amount of $2,100. Emperor determines that the lawsuit is likely to end in the plaintiff's favor and the $2,100 is a reasonable estimate for damages. Prepare any necessary journal entries for each situation. If an amount box does not require an entry, leave it blank. If no…

Prepare all the journal entries for Scuppermong for Years 1 and 2.

Aspen Park Senior Center has a weekly payroll of $20,000. December 31 falls on Monday, and Aspen Park Senior Center will pay its employees the following Monday (January 7) for the previous full week. Assume Aspen Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $600,000. Read the requirements. Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Credit Date Dec. 31 Cash Prepaid Salaries Revenues Salaries Expense Salaries Payable Requirements 1. Record the adjusting entry for accrued salaries on December 31. 2. Post the adjusting entry to the accounts involved and show their balances after adjustments. 3. Record the journal entry for payment of salaries made on January 7. Print Done X

Record journal entries for the following transactions of Commissary Productions. Jan. 1, 2018 Issued a $435,530 note to customer June Solkowski as terms of a merchandise sale. The merchandise's cost to Commissary is $233,700. Note contract terms included a 36-month maturity date, and a 5% annual interest rate. Dec. 31, 2018 Commissary records interest accumulated for 2018. Dec. 31, 2019 Commissary records interest accumulated for 2019. Dec. 31, 2020 June Solkowski honors the note and pays in full with cash. If an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places. Jan. 1, 2018   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6   To record sale in exchange for Notes Receivable     Jan. 1, 2018   fill in the blank 8 fill in the blank 9     fill in the blank 11 fill in the blank 12   To record the cost of sale     Dec. 31, 2018   fill in the blank 14 fill in the blank…