3 years ago

Somerset leasing received $50,400 for 24 months' rent in advance. how should somerset record this transaction?

Business

1 answer:

butalik [34]3 years ago

3 0

Maybe on a balance sheet, to keep track of everything monthly

You might be interested in

An individual who provides services to your business, but is not an employee is considered

Reika [66]

Answer:

independent contractor

I hope it helps.

3 0

2 years ago

Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonas's basis in a $33,200

olya-2409 [2.1K]

Answer:

Capital gain $24,900

Explanation:

Jonas's Stock basis $33,200

Less $8,300

Capital gain $24,900

$24,900 cash distribution - Net share of Ard's taxable income $16,600= $8,300

Therefore Jonas's recognized capital gain

of $24,900

6 0

3 years ago

Explain what the economic problem is

Helen [10]

Answer:

Economic systems as a type of social system must confront and solve the three fundamental economic problems: What kinds and quantities of goods shall be produced, "how much and which of alternative goods and services shall be produced?" How shall goods be produced? ..by whom and with what resources

8 0

3 years ago

A general property of the EOQ inventory model is that total inventory holding and total ordering costs are equal at the optimal

ikadub [295]

Fkdhkwdkhehejwhvskwvdhd kid ideológico lemme lol lol lol

7 0

3 years ago

Your regular price is $30/unit, unit variable cost is $20/unit and fixed costs are $3,000 per month. Because of the recession, y

Jet001 [13]

Answer:

Answer is in table which is attached in the attachment. Please refer to the attachment.

Explanation:

<em>Calculations:</em>

Status quo: Revenue 30* 200= 6000, VC 30*20= 4000, CM 6000-4000= 2000, 2000-3000= -1000 (Contribution Margin – fixed cost = Profit/Loss)

(b) Since the loss is less in Advertising even after $300 cost of advertisement, so we would choose the option 3 for advertising.

(c). In order to survive in the period of recession, a business needs cash and reducing operation expenses can do it better. This business is in loss from last three months so it might be useful to shut down the business for some period.

8 0

3 years ago