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4 years ago

REM Real Estate received a check for $27,000 on July 1 which represents a 6 month

Business

1 answer:

sweet-ann [11.9K]4 years ago

5 0

Answer:

a. Debit Unearned Rent Revenue, $4,500; Credit Rent Revenue, $4,500

Explanation:

When the company receives the $27,000 check for six months of advance rent, it records the unearned revenue in a liability account named Unearned Rent Revenue. The resulting journal entry is:

(Dr) Cash, $27,000

(Cr) Unearned Rent Revenue, $27,000

With the passing of each month, the company <em>earns</em> one-sixth (1/6) of the unearned rent revenue (or $4,500), essentially reclassifying the revenue from unearned to earned. Therefore, after one month, the resulting journal entry is:

(Dr) Unearned Rent Revenue, $4,500

(Cr) Rent Revenue, $4,500

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A perfectly competitive industry achieves allocative efficiency in the long run. What does allocative efficiency mean? A. Each

Sedaia [141]

Answer: B. Each firm produces up to the point where the price of the good equals the marginal cost of producing the last unit.

Explanation:

Allocative efficiency means that the point chosen on the production possibility frontier is socially preferred.

In a perfectly competitive market, allocative efficency is achieved at the point where price equals the marginal cost of production. At this price producer and consumer surplus is maximised.

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3 years ago

Joshua needed money for some unexpected expenses, so he borrowed $5,355.26 from a friend and agreed to repay the loan in seven e

konstantin123 [22]

Answer:

10%

25.14 years

Explanation:

A financial calculator can be used to solve these problems

PMT = $-1,100

PV = $5,355.26

FV = 0

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PMT = $-25,000

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Compute N = 25.14 years

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3 years ago

Choose the best and worst answer to the following question:

oee [108]

Answer:

Choose the best and worst answer to the following question:

Suppose your supervisor returns from vacation and notices that the work area looks terrible. You also had the last two days off. He's angry and criticizes you for being careless and sloppy. This wasn't your fault.

What would you do?

Best answer: Let the coworkers responsible know that you had to take the heat.

worst answer: Tell him it wasn't your fault and not to criticize you unjustly.

Explanation:

7 0

3 years ago

Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (U

Andrew [12]

Answer:

Given that,

Taxable income = $75,000

Interest from an investment = $10,000

Using the U.S tax rate schedule in 2017

(a) Federal tax will he owe = $5,226.25 + 25% × ($75,000 - $37,950)

= $5,226.25 + $9262.5

= $14,488.75

(b) $Average\ Tax\ Rate = \frac{Total\ Tax}{Taxable\ Income}$

$Average\ Tax\ Rate = \frac{14,488.75}{75,000}$

= 19.32%.

(c) $Effective\ Tax\ Rate = \frac{Total\ Tax}{Total\ Income}$

$Effective\ Tax\ Rate = \frac{14,488.75}{75,000 + 10,000}$

= 17.05%

(d) Chuck is currently in the 25 percent tax rate bracket.

His marginal tax rate on increases in income up to $16,900 and deductions from income up to $37,050 is 25 percent.

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3 years ago

A(n) ______ is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.

Tema [17]

Every individual or business wants to make profit this is done by providing goods and services that satisfy people's needs and wants.

<h3>What is a business?</h3>

A business is an organization that aims at making a profit by providing goods and services that are desired by individuals also known as customers.

Business meets a need and gets profit in return.

Therefore, A Business is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.

learn more on business here

brainly.com/question/24553900

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2 years ago