Answer:
A debit to Unearned Rent and a credit to Rent Revenue for $3,675.
Explanation:
The year end adjusting entry is as follows
Unearned rent Dr $3,675
To Rent earned $3,675
(Being the unearned rent is recorded)
The computation is shown below:
= Monthly rate × number of months
= $1,225 × 3 months
= $3,675
The three months is calculated from October 1 to December 31 and the same is to be considered
Answer:
A. The business must gain government permission and issue a stock sale, followed by a shareholder vote.
Explanation:
Just took the quiz
Answer:
1. $60,000
2. $30,000
3. $20,000
Explanation:
1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
The amount to add add to the Work in Process Inventory account during the period is the direct material used calculated as follows:
Direct raw materials used = Materials requisition 1445 For Job 101 + Materials requisition 1446 For Job 102 = $25,000 + $35,000 = $60,000
2. How much of the raw materials costs would be added to the Manufacturing Overhead account?
Manufacturing overhead refers to all indirect costs that are incurred during the production process. Therefore, the raw materials costs that would be added to the Manufacturing Overhead account is the indirect materials used on multiple jobs.
Therefore, we have:
Amount to add to the Manufacturing Overhead account = Indirect materials used = $30,000
3. Compute the ending balance in the Raw Materials Inventory account.
Ending raw materials balance = Beginning raw materials + Purchases of raw materials - Direct raw materials used - Indirect materials used = $20,000 + $90,000 - $60,00 - $30,000 = $20,000
Answer:
C. protected property rights; were extractive and authoritarian
Explanation:
Based on the work of Acemoglu, Johnson and Robinson there were different types of colonization policies which created different sets of institutions. These authors argued that the colonization path was strongly influenced by feasibility of settlements. On the one hand, tropical places where diseases were more likely and affected Europeans the most, settlers formed extractive institutions. These institutions were not designed to protect private property or provide checks and balances against government expropriation. Their main objective was to transfer as much of the resources of the colony to the colonizer. On the other hand, where climates were more moderate, settlers seek to replicate European institutions, emphasizing private property and checks and balances against government power.
