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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Do a b and c

Transcribed Image Text:Record adjusting journal entries for each separate case
below for year ended December 31.
Assume no other adjusting entries are made during the
уear.
a. Unearned Rent Revenue. The Krug Company collected
$10,200 rent in advance on November 1, debiting Cash
and crediting Unearned Rent Revenue. The tenant was
paying 12 months' rent in advance and occupancy
began November 1.
b. Unearned Services Revenue. The company charges
$110 per insect treatment. A customer paid $440 on
October 1 in advance for four treatments, which was
recorded with a debit to Cash and a credit to Unearned
Services Revenue. At year-end, the company has
applied three treatments for the customer.
c. Unearned Rent Revenue. On September 1, a client paid
the company $32,400 cash for six months of rent in
advance and took occupancy immediately. The
company recorded the cash as Unearned Rent
Revenue.
View transaction list
Journal entry worksheet
1
2
3
The Krug Company collected $10,200 rent in advance on November 1, debiting
Cash and crediting Unearned Rent Revenue. The tenant was paying 12
months' rent in advance and occupancy began November 1.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
a.
Record entry
Clear entry
View genera
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- what is a P&Larrow_forwardAnswer each of the following independent question: a and barrow_forwardZina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800arrow_forward
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