On november 1, the company rented space to another tenant. a check in the amount of $9,000, representing three months' rent in advance, was received from the tenant on that date. the payment was recorded with a credit to the unearned rent revenue account. complete the necessary adjusting entry for december 31 by selecting the account names and dollar amounts from the drop-down menus.

Adjusting entry to record the Rent revenue:

It is given that on November 1, the company rented space to another tenant. A check in the amount of $9,000, representing three months' rent in advance, was received from the tenant on that date. The payment was recorded with a credit to the unearned rent revenue account.

Now on December 31, we need to prepare the adjusting entry to record the Rent Revenue for the period (Nov. 1 to Dec. 31) that is two months. The Rent Revenue for two months shall be 9000*2/3 = $6,000

Hence the adjusting entry to record the Rent revenue shall be as follows:

Unearned Rent Revenue Debit $6,000

Rent Revenue                   Credit            $6,000

(being the adjustment made for Rent Revenue earned)

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total