Question

the unearned rent account has a balance of $53,672. if $4,306 of the $53,672 is unearned at the end of the accounting period, the amount of the adjusting entry is

Answer 1

Calculation for what the amount of the adjusting entry is:

Using this formula

Adjusting Entry Amount = Beginning Balance − Ending Balance

Let plug in the formula

Adjusting Entry Amount = $53,672 - $4,306

Adjusting Entry Amount = $49,366

Therefore, the amount of the adjusting entry is: $49,366

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