Multiple Choice
The unearned rent account has a balance of $72,000. If $18,000 of the $72,000 is unearned at the end of the accounting period, the amount of the adjusting entry is
A) $18,000
B) $90,000
C) $54,000
D) $36,000
Correct Answer:
Verified
Correct Answer:
Verified
Q14: DogMart Company records depreciation for equipment. Depreciation
Q15: On November 1, clients of Great Designs
Q16: Record journal entries for the following transactions.<br>(a)
Q17: Gracie Company made a prepaid rent payment
Q18: Match the type of account (a through
Q20: The account type and normal balance of
Q21: The balance in the accumulated depreciation account
Q22: Using accrual accounting, revenue is recorded and
Q23: Deferrals are recorded transactions that delay the
Q24: Deferred revenue is revenue that is<br>A) earned