財(cái)務(wù)會(huì)計(jì)概念與應(yīng)用英文版lectu(2)(編輯修改稿)
2025-02-02 21:28 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 1/09 Rent Expense 1,800 Prepaid Rent 1,800 Rent Expense Prepaid Rent Original entry 3,600 3,600 Adjusting entry 1,800 1,800 Correct balances 1,800 1,800 Cash On July 1, 2022, Apex Inc. pays $3,600 for one year’s rent in advance (covering July 1, 2022, to June 30, 2022). On December 31, 2022, an adjustment will be needed. What is the adjusting entry? 11 Unearned Rent Rent Revenue Original entry 3,600 3,600 Adjusting entry 1,800 1,800 Correct balances 1,800 1,800 Example: Unearned Revenues 12/31/09 Unearned Rent 1,800 Rent Revenue 1,800 On July 1, 2022, Dahl House Co. received $3,600 for one year’s rent in advance (covering July 1, 2022, to June 30, 2022). On December 31, 2022, an adjustment will be needed. What is the adjusting entry? Cash 12 Preparing Financial Statements Four step process using the trial balance: 1. Identify all revenue and expense accounts and prepare the ine statement. 2. Compute ine. 3. Compute the ending retained earnings balance. 4. Prepare a balance sheet using the balance sheet accounts and the ending retained earnings balance puted from step 3. 13 The Notes and the Audit ? Notes – List assumptions and methods used in preparing the financial statements. – Give more detail about
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