On August 1 . a company received cash of $9,324 for one year's rent in advance and recorded the transaction on that day as a credit to rent revenue. The December 31 adjusting entry would include
a. a debit to Rent Revenue for $3,885.
b. a credit to Unearned Rent Revenue for $5,439.
c. a debit to Unearned Rent Revenue for $3,885.
d. a credit to Rent Revenue for $9,324.
B
You might also like to view...
Use this information to answer the following question. Gross payroll $16,000 Federal income taxes withheld $1,800 Social security and Medicare rate 7.65% Federal unemployment tax rate .8% State unemployment tax rate 5.4% The entry to record the payroll taxes expense would include a credit to
a. Salaries Payable. b. Federal Income Taxes Payable. c. Social Security Tax Payable. d. Cash.
What is the first step in the scientific method?
A. review scientific evidence B. develop a hypothesis C. evaluate and draw conclusions D. state the problem
How you feel about yourself affects your:
a. ability to give feedback to others. b. success in meeting the challenges of life and work. c. None of the answers are correct. d. capacity to understand others.
A local liquor store posts the checks of customers that are returned from the bank. The store manager says the public display of the checks is a good way to deter other bad-check writers. The display of the checks is: A) an invasion of privacy
B) defamation. C) protected by a qualified privilege. D) None of the above