Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

تمرين 90

Preparing Journal Entries for Deferral Transactions and Adjustments
For each of the following independent situations, prepare journal entries to record the initial transaction on September 30 and the adjustment required on October 31.
a. Hockey Helpers paid $4,000 cash on September 30, to rent an arena for the months of October and November.
b. Super Stage Shows received $16,000 on September 30, for season tickets that admit patrons to a theatre event that will be held twice (on October 31 and November 30).
c. Risky Ventures paid $3,000 on September 30, for insurance coverage for the months of October, November, and December.