Record the rent revenue earned during october

Reference no: EM131810272

For each of the following transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 31.

(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Collected $2, 700 rent for the period October 1 to December 31. which was credited to Unearned Revenue on October 1.

Paid $1, 440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount.

Used a machine purchased on October 1 for $49, 200.

The company estimates annual depreciation of $4, 920.

Record the rent revenue earned during October.

Record the insurance expense for October.

Record the depreciation for the month of October.

Reference no: EM131810272

Questions Cloud

Calculate the ending balance of the operating overhead : Calculate the ending balance of the Operating Overhead account for November

Determine by present worth analysis : The corporation wants a 15% after-tax rate of return on its investments. Determine by present worth analysis whether this project should be undertaken.

Annual cash flow analysis : If the firm wants a 9% after-tax rate of return and its combined incremental income tax rate is 34%, determine by annual cash flow analysis whether

Appropriate distribution of number of each kind of raisin : Suppose raisin muffins from the recycling bakery have an average of 3 fresh raisins and 2 rotten raisins per muffin.

Record the rent revenue earned during october : For each of the following transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 31.

Compute the after-tax rate of return : For a combined 47% income tax rate, and sum-of-years'-digits depreciation, compute the after-tax rate of return.

Determine the unit costs of production : Show the assignment of costs to units transferred out and in process

What is the cost of machining per ceiling fan : Brannon Company manufactures ceiling fans and uses the activity-based costing system. What is the cost of machining per ceiling fan

How much money do you expect to win or lose per game : Suppose we play the following game based on tosses of a fair coin. You pay me $10, and I agree to pay you $n2 if heads comes up first on the nth toss.

User Account

All Pages