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BaLLatris [955]
3 years ago
12

All of the following components are commonly found in rental housing agreements EXCEPT:

Business
2 answers:
Fed [463]3 years ago
5 0
Based on my knowledge,

C. What type of renter's insurance the renter must buy

All other answers are very common.
rosijanka [135]3 years ago
5 0
C. What the of renter's insurance the renter must buy
Good luck
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Delta Company performed $20,000 of services on account and recorded the amount due as a typical account receivable. Over time, i
Llana [10]

Answer:

D) No impact on the accounting equation.

Explanation:

  • Nothing would happen since the amount to be received would remain the same i-e $20,000, so there is no chance for increase in liabilities. Moreover, the there is no new services so that asset should be impacted.
  • What there has been done is just classifying the payment which the Delta thought that they would receive earlier, but now it is being realized that it will take long, so just to not make any mistake or confusion for future this was done.
3 0
3 years ago
How would the issuance of common stock for cash affect the accounting​ equation?
shepuryov [24]

Answer:

Explanation:

The journal entry to record the given transaction is shown below:

Cash A/c Dr XXXXX

    To Common stock A/c XXXXX

(Being the issuance of the common stock is recorded)

The accounting equation is

Total Assets = Total liabilities + Stockholder equity

Cash Increased = No effect    + Increased

Therefore, the cash account and the common stock is increased.

3 0
3 years ago
Bill spent most of his month’s allowance for expensive tickets to a rock concert after Lorene said she would go with him. On the
aksik [14]
<span>Tony did not breach a contract because it was all up to Lorene and who she wanted to go with. Lorene is not obligated to go with either. Although Bill spent most of his allowance, he could still ask someone else, sell his ticket and or even go by himself. I do not think Tony could be held liable even if he knew. It was not a nice thing to flake on Bill, but ultimately, it was Lorene's decision to make.</span>
8 0
3 years ago
Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one
IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

8 0
3 years ago
What is an example of credit? A) A person withdraws money from a bank account using an ATM card. B) A person borrows money from
ahrayia [7]

Answer:

b

Explanation:

An example of credit is when a person borrows money from a finance company to buy a car. Once credit is extended to a person and is used for a purchase, the credit is converted to a debt, and the person has the financial obligation to repay the loan.

7 0
3 years ago
Read 2 more answers
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