1413 Assignment No 1 Solution 2022-AIOU Autumn-Adjustment entries analysis
Q.3 For each type of adjustment listed, indicate whether it is an unrecorded receivable, an unrecorded liability, an unearned revenue, or a prepaid expense at December31, 2012.
1. Property taxes that are for the year 2012 but are not to be paid until 2013.
2. Rent revenue earned during 2012, but not collected until 2013.
3. Salaries earned by employees in December 2012, but not to be paid until January 5, 2013.
4. An insurance premium paid on December 29,2012, for the period January 1,2013 to December 31, 2013.
5. Gasoline charged on a credit card during December 2012. The bill will not be received until January 15, 2013.
6. Interest on a certificate of deposit held during 2012. The interest will not be received until January 7, 2013.
7. A deposit was received on December 15, 2012, for the rental of storage space. The rental period if from January 1, 2013, to December 31, 2013.
