Unearned rent has a credit balance of P240,000 composed of the following: January 1 balance of P45,000 representing advance rent for four months, January to April. A credit of P195,000 representing advance rental payment for twelve(12) months beginning May 1. The December 31 adjusting entry will require a debit to Unearned Rent and a credit to Rent Revenue of: P175,000 P45,000 P240,000 P191,250
Unearned rent has a credit balance of P240,000 composed of the following: January 1 balance of P45,000 representing advance rent for four months, January to April. A credit of P195,000 representing advance rental payment for twelve(12) months beginning May 1. The December 31 adjusting entry will require a debit to Unearned Rent and a credit to Rent Revenue of: P175,000 P45,000 P240,000 P191,250
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 5BE: Adjustment for unearned revenue On June 1, 20Y2, Herbal Co. received 18,900 for the rent of land for...
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Unearned rent has a credit balance of P240,000 composed of the following: January 1 balance of P45,000 representing advance rent for four months, January to April. A credit of P195,000 representing advance rental payment for twelve(12) months beginning May 1. The December 31
P175,000
P45,000
P240,000
P191,250
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