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-   -   Adjusting entries (https://www.askmehelpdesk.com/showthread.php?t=138306)

  • Oct 8, 2007, 07:42 AM
    mastgirl07
    Adjusting entries
    On November 1 the company received 6 months rent in advance from a tenant whose rent is 700 per month. The 4200 was credited to th unearned Rent account

    1. prepare adjusting entry for year end dec 31
  • Oct 8, 2007, 08:57 AM
    ladykim
    Quote:
    Originally Posted by mastgirl07
    on november 1 the company received 6 months rent in advance from a tenant whose rent is 700 per month. the 4200 was credited to th unearned Rent account

    1. prepare adjusting entry for year end dec 31
    Cash 4200
    Unearned revenue, rent 4200
  • Oct 8, 2007, 12:17 PM
    CaptainForest
    ladykim's JE is for Nov 1.

    For Dec 31,
    Dr. unearned revenue 1400
    Cr. Revenue 1400

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