Two 2020 transactions of the Rowena Carpio Company are described below: April 1 - Carpio paid the Evelyn Ferraris Equipments P36,000 in advance to rent certain equipment over the next 12 months. July 1 - A check in the amount of P72,000 was received from Alaabang Consultants for professional services to be rendered over the next 24 months. On a clean sheet of papaer, prepare the necessary adjusting entries. Use the proper way of journalizing.

Two 2020 transactions of the Rowena Carpio Company are described below: April 1 - Carpio paid the Evelyn Ferraris Equipments P36,000 in advance to rent certain equipment over the next 12 months. July 1 - A check in the amount of P72,000 was received from Alaabang Consultants for professional services to be rendered over the next 24 months. On a clean sheet of papaer, prepare the necessary adjusting entries. Use the proper way of journalizing.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 8RE: At the end of 2019, Framber Company received 8,000 as a prepayment for renting a building to a...

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