WebJournalize the entry for this transaction. A: The journal entry here would be: Debit: ... Would that be prepaid or rent expense? On the 2nd of the month record a prepaid expense … WebJournalizing purchase and sale operations, making closing items, preparing financial statements, and computing the gross profit percentage. This problem continues the Crystal Clea
RENT PAID IN ADVANCE: JOURNAL ENTRIES WITH EXAMPLES
Web7 jun. 2024 · When a customer makes a payment for the goods or services received, the accountant makes a journal entry for the amount of cash received by debiting the cash account on the balance sheet, and then... WebLO 3 29 Journalizing and Posting Summary (1 of 3) General journal Page J1 Date Explanation Ref. Debit Credit 2024 Oct. 1 Cash 101 10,000 Owners’ Capital 301 10,000 1 Equipment 157 5,000 Notes Payable 200 5,000 2 Cash 101 1,200 Unearned Revenue 209 1,200 3 Rent Expense 729 900 Cash 101 900 LO 3 30 Journalizing and Posting … gmc dealership fort collins
2.3: Adjusting Entries - Business LibreTexts
Web1 mei 2024 · Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2024. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the buildings and $1,500 on equipment 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has … Web6 dec. 2024 · Prepaid rent is an amount for rent which has been paid in advance. A business has an annual office rent of 12,000 and pays the landlord 3 months in … Web25 mrt. 2024 · The business paid $1,900 for the first and last month's rent for office space. This transaction is divided into two parts: $950 is recorded as Prepaid Rent (Asset), and $950 is recorded as Rent Expense (Expense). Cash (Asset) is decreased by $1,900. The owner contributed office furniture worth $2,750 and cash of $15,000 to the business. bolt ons beauty