The unearned rent account has a balance of $69,060. If $15,787 of the $69,060 remains unearned at the end of the accounting period, the amount of the adjusting entry is Oa. $69,060 Ob. $53,273 Oc. $84,847 Od. $15,787
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- The unearned rent account has a balance of $48,053. If $6,544 of the $48,053 is unearned at the end of the accounting period, the amount of the adjusting entry is Oa. $48,053 Ob. $41,509 Oc. $6,544 Od. $54,597Assume all rent revenues are received in advance and accounted for as unearned rent. Beginning and ending balances of unearned rent are P4,000 and P6,000, respectively. If total rent revenue for the period amounted to P45,000, what is the amount of rent collections in advanced for the period?a. P45,000 c. P43,000b. P35,000 d. P47,000The balance in the unearned rent account for Jones Co. as of December 31 is $1 ,20(). If Jones Co. failed to record the adjusting entry for $600 of rent earned during December, the effect on the balance sheet and income statement for December would 1w: A. Assets understated by $600; net income overstated by $600. B. Liabilities understated by $600; net income understated by $600. C. Liabilities overstated by $600; net income understated by $600. D. Liabilities overstated by $600; net income overstated by $600.
- 8) Rent Income account has a credit balance of 240,000 composed of the following: Rental for three months ending March 31, 2020, 45000 A credit of 195,000 representing advance rental payment for one year beginning April 1 The December 31 adjusting entry will require a debit to rent income and a credit to Unearned Rent of? A 45000 B 191250 C 48750 D 195000On 1 January 2020, a tenant paid OMR 18000 in advance for rental to Dhofar LLC for the next six months. At the end of April 2020, 4 month advanced rental amount has been expired. Record the expired rental income at the end of April 2020. Select one: a. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 18000 18000 b. Date Particulars Debit (OMR) Credit (OMR) April 30 Cash Dr. Unearned Rental Income Cr. 18000 18000 c. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Income Receivable Dr. Rental Income Cr. 12000 12000 d. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 12000 12000 e. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Expenses Dr. Prepaid Rent Cr. 12000 12000 f. Date Particulars Debit (OMR) Credit (OMR) April 30 Unearned Rental Income Dr. Rental…The unearned Rent account has a balance of $ 36000 , If $ 4000 of the 36000 is unearned at the end of its period. what will be the amount shown in the adjusting entry?
- At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $780. During the year, previously written off accounts of $119 are reinstated and accounts totaling $744 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be Oa. $780 © b. $744 O c. $119 Od. $155Required: How much should be reported as rent expense in SEVEN's income statement for the year ended December 31, 2021?*18.On June 1, 2021, Whipple Corporation received $2,520 in advance for a two-year rental of some land and properly credited Unearned Rent. In the adjusting entry at December 31, 2021, there would be a a. debit to Unearned Rent for $630 b. credit to Rent Revenue for $735 С. credit to Unearned Rent for $735 d. debit to Unearned Rent for $2,520 I
- 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…9. The adjusting journal entry to adjust the allowance for doubtful accounts as of December 31, 2020 will include a debit to doubtful accounts expense of:What is the Allowance for Uncollectible Accounts at December 31 of the current year after adjustments? attached in ss below thansk rgwiohwj ohwt hw