Prepare adjusting entries for accruals adjusting

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Unformatted text preview: rnal entry to record the receipt on Oct 2nd. Oct. 2 Cash 1,200 Unearned Revenue Cash Debit Unearned Rent Revenue Credit Debit Unearned revenue 1200 Chapter 3-28 1,200 Credit Cash 1,200 LO 5 LO Prepare adjusting entries for deferrals. Prepare Adjusting Entries for “Unearned Revenues” Adjusting Entries for “Unearned Revenues” Example: On Oct. 2nd, Pioneer Advertising received $1,200 from R. Knox for services to be completed by December 31. from Show the adjusting journal entry required on Oct. 31st. Show the Oct. 31 Unearned Revenue 400 Service Revenue Service Revenue Debit 400 Unearned Revenue Credit Debit 400 Credit 400 1,200 800 Chapter 3-29 LO 5 LO Prepare adjusting entries for deferrals. Prepare Adjusting Entries for Accruals Adjusting Entries for Accruals Made to record: Revenues earned and Expenses incurred in the current accounting period that have not been recognized through daily entries. Chapter 3-30 LO 6 LO Prepare adjusting entries for accruals. Prepare Adjusting Entries for “Accrued Revenues” Adjusting Entries for “Accrued Revenues...
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