Please Show your work! Adjusting Entry exercise 31, 2013, for the Falwell Compan

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Please Show your work!

Adjusting Entry exercise 31, 2013, for the Falwell Company for each of the Prepare the necessary adjusting entries at December following situations. Assume that no financial statements were prepared during the year a adjusting entries were recorded nd no On December 1, 2013, the company received $3,000 in cash from another company that is renting office space in Falwell's building. The payment, representing unearned rent revenue. rent for December and January, was credited to

Explanation / Answer

Adjussting entry :

Date accounts & explanation debit credit Dec 31,2013 Unearned rent revenue (3000/2) 1500     Rent revenue 1500 (To record adjusting entry)

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