Which adjusting entry is the allocation of a long-term asset's cost to expense over its useful life?
B) Unearned revenue.
C) Accrued revenue.
D) Accrued expenses.
9. On 10/1/08, a company received $6,000 in unearned rent revenue for 1 year’s rent. The company debited cash and credited unearned rent revenue for $6,000... displayed 300 characters
DO YOU NEED AN ESSAY? Here are the options you can choose from:
Order plagiarism free custom written essay.
All essays are written from scratch by professional writers according to your instructions and delivered to your email on time. Prices start from $10.00 /page.
FULL ACCESS TO ESSAYS DATABASE
This option gives you the immediate access to all 184 988 essays.
You get access to all the essays and can view as many of them as you like for as little as $28.95/month.
Your research paper is written by certified writers
Your requirements and targets are always met
You are able to control the progress of your writing assigment
You get a chance to become an excellent student!
On 10/1/08, a company received $6,000 in unearned rent revenue for 1 year’s rent. The company debited cash and credited unearned rent revenue for $6,000.
(A) Prepare the adjusting entry needed on 12/31/08, assuming that the unadjusted unearned rent revenue balance is still $6,000.
12/31/08 Unearned Rent Revenue 1,500
Rent Revenue 1,500
(B) Would the adjusting entry involve an accrual or a deferral?
10... displayed next 300 characters
The cost of the assets $100,000 minus $22,500, equal the book value at the end of December 31, 2005, of $77,500.
Using the double declining method deprecation of 1 year means that 2/4 and multiply it by each year by the book value $100,000 * 2/4 = $50,000...
You just need to record the transactions or adjustments using the numbers given.
3. Payments of wages
For $30,200 wages in Table 2, 50% is paid to Marybeth as a store manager and 50% paid to production personnel...
A form of this method is Double-declining balance, more commonly known as DDB. Using this method requires paying close attention to the residual value mainly because an asset can't be depreciated beyond its estimated residual value...
had 19X5 sales of $500,000, but paid only $21,000 in commissions.
How much does GuCo accrue in commissions on December 31?
Mastering Adjusting Entries
SOLUTION 1: To compute: $500,000 sales for 19X5 x 5% = $25,000
commissions payable in 19X5...
E3-7; P3-4 not part e
A) Starting Supplies = X ;Supplies Purchases in Jan = $850; Supplies Exp Jan 31 = $950; Supplies Jan 31 = $700
Equation: X + $850 - $950 = $700
X - $100 = $700
X = $800
The balance of supplies on January 1 was $800...
Our aim is to provide a new option which can help students write their researches taking as guideline excellent examples of any kinds of papers. This option is new and progressive; it is even easier than buying a custom written paper! Due to this service you can find and choose what you need by yourself without paying almost anything.