accounting

posted by .

prepare journal entry and adjusting journal entry on these transactions:

end of fiscal year is Nov 30,2004

Transactions:
A theatre rents out their space from time to time to community groups to earn extra revenue. A local rock band pays $400 per month to use the theatre for practice on Monday nights. They sent a cheque for November rent for only $40 in error. The theatre clerk deposited it to the bank on November 4 and credited rent revenue. On December 4 the theatre received a cheque for the $760 covering the balance from November plus December rent.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting

    Horse Country Living publishes a monthly magazine for which a 12-month subscription costs $30. All subscriptions require payment of the full $30 in advance. On August 1, 2008, the balance in the Subscriptions Received in Advance account …
  2. accounting

    Iron's paper Company, whose fiscal year ends December 31, completed the following transactions involving notes payable: Nov. 25 Purchased a new loading cart by issuing a 60day, 10% not for $43,200 Dec. 16 Borrowed $50,000 from the …
  3. College Accounting

    An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each …
  4. accounting

    Your team has been assigned the duty to diagram the audit trail for your company. In your diagram, show several transactions and how they would be tracked from the journal entry to the financial statement and back to the journal entry
  5. accounting

    A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current …
  6. accounting

    Prepare a journal entry for the purchase of office supplies on October 14 for 9,000, paying $1,800 cash and the remainder on account?
  7. accounting

    An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each …
  8. Accounting

    #9 Unrecorded Liability: Adjusting Entry Refer to PE 4-8. (1) Make the adjusting entry necessary on the company’s books with respect to this loan on December 31. (2) Make the journal entry necessary on the company’s books on the …
  9. accounting

    Worthington Company issued $1,000,000 face value , six-year, 10% bond on July 1, 2010, when the market rate of interest was 12%. Interest payments are due every July 1, and January 1. Worthington uses a calendar year-end. 1. Prepare …
  10. Accounting - please check my answers

    Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare the adjusting entries and show the related transaction …

More Similar Questions