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tamaranim1 [39]
3 years ago
11

Bonita Realty Management Co. received a check for $32,400 on August 1, which represents a one year advance payment of rent on an

office it rents to a client. Unearned Rent Revenue is credited when the realty company collected the rent. Financial statements are prepared on December 31. The appropriate year-end adjusting journal entry that the realty company must record for the first year would be a ______.
Business
1 answer:
ludmilkaskok [199]3 years ago
3 0

Answer:

Explanation:

The adjusted journal entry is shown below:

Unearned rent revenue A/c Dr

      To Rent revenue A/c

(Being the adjusted entry of rent is recorded)

The computation of the rent revenue is shown below:

= Received amount × number of months ÷ (total number of months in a year)

= $32,400 × (5 months ÷ 12 months)

= $13,500

The 5 months is calculated from August 1 to December 31

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8 0
2 years ago
Suppose the inflation rate is 2% per year. If you currently think of $40,000 as an acceptable retirement income and are expectin
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3 years ago
Evaluating od interventions always involves measuring their impact on employee satisfaction, productivity, and the bottom line.
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Participatory evaluation is an evaluation strategy that is "bottom-up" or "people-centered."

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6 0
2 years ago
"if Washburn achieves the sales target of 2,000 units at the $349 retail price, what will its profit be?"
dybincka [34]

Answer: $370,000

Explanation:

Your question isn't complete as there were some further questions asked before getting to this question.

The profit from 2,000 units at $349 will be:

Profit = Total revenue – Total cost

Total revenue = (P x Q)

= $349 x 2000

= $698000

Total cost = [FC + (UVC x Q)]=

= [$38,000 + ($145 x 2,000)]

=$38000 + $290000

= $328000

Profit = Total revenue - Total cost

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5 0
3 years ago
The amount of the outstanding checks is included on the bank reconciliation as a(n) deduction from the balance per company's rec
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Answer:

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