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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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1. It is not easy to get funds for a start up, as many banks do not consider it as a successful decision to provide loan to a start up, as the feasibility of recovery of loan cannot be identified and guaranteed.

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3 years ago
You're been placed in charge of all promotion for a product that has common appeal in different cultures around the world. You'l
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True

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3 years ago
In​ 2011, the fixed costs of a company were​ $500,000, and its variable costs equaled​ $150,000. In​ 2010, the company made an a
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Learn more about information here: brainly.com/question/3282789

#SPJ1

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2 years ago
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