On November 1,Phone Center received $4,800 for two years' rent in advance from Garrison Company.The November 30 adjusting entry that Phone Center should make is to:
A) debit Rental Income;credit Unearned Rent $3,000.
B) debit Cash;credit Rental Income $3,000.
C) debit Unearned Rent;credit Rental Income $200.
D) debit Unearned Rent;credit Rent Expense $200.
Correct Answer:
Verified
Q22: What financial statement shows the amount for
Q23: Max Realty paid $3,000 rent on a
Q24: Doug paid $1,200 on a one-year insurance
Q25: The financial statement on which Unearned Rent
Q28: The adjustment for accrued salaries would be
Q29: The financial statement on which Rental Income
Q30: Mortgage Payable is what type of account?
A)Asset
B)Liability
C)Expense
D)Contra-asset
Q32: From the following items, which would most
Q32: Accumulated Depreciation - Buildings should be shown
Q39: The adjustment for salaries is necessary:
A) because
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