What is the correcting entry to be made in 2012, Accounting Basics

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What is the correcting entry to be made in 2012

On Oct 1, 2011 you received rent in advance of $12,000 for 3 years. You credited rent revenue. You forgot to make an adjusting entry on December 31, 2011. What is the correcting entry to be made in 2012assuming the books for 2011 are closed?

Assume the same information given above except you credited rent expense for $12000. What is the correcting entry in 2012 assuming the books in 2011 are closed?

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Accounting Basics: What is the correcting entry to be made in 2012

Reference No:- TGS0678972

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Recent Questions Asked Accounting Basics

Q : Determine whether new york liberty company

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the correcting entry to be made in 2012

Reference No:- TGS0678972

Recent Questions Asked Accounting Basics

Q : Determine whether new york liberty company

Q : What is lower bound for price of a four-month call option

Q : How should juaquin account for the bad debt

Q : Find residual income

Q : What is the correcting entry to be made in 2012

Q : Determine the annual depreciation expense for each

Q : Find lower bound for price of one-month european put option

Q : Explain how the issue price would have been affected

Q : Why it is not possible to set up position in the stock

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