Answer:
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800
Credit Rent Revenue $10,800
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)
Credit Rent Revenue $10,800
Answer:
(a) 78.96
(b) 82.99
(c) 5.10
Explanation:
The current stock price can be calculated as follows
= 3.76 × 21
= 78.96
The target stock price in one year can be calculated as follows
= 3.76(1+5.1%)×21
= 3.76×(1+0.051)×21
= 3.76×1.051×21
= 82.99
The implied return on company's stock over one year can be calculated as follows
= 82.99-78.96/78.96
= 4.03/78.96
= 0.0510× 100
= 5.10
Answer:
The correct answer is: Manufacturing overhead.
Explanation:
Manufacturing overhead includes all the costs not related to labor or direct production materials related to the company's manufacturing operations in regards to the facility. These costs are untraceable and include depreciation of equipment, property taxes or rent of factory building.
After March 11, 2021, such rent payments as described above should be reported on <u>Form 1099-MISC,</u><u> Miscellaneous </u><u>Information</u><u>.</u>
The subject of rent payments made through third party networks is covered under the American Rescue Plan Act which:
- Was signed by President Biden on March 11, 2021.
- Clarifies the scope of Form 1011-K.
The Act shows that when rent payments are made through third-party networks, they should be treated as miscellaneous information and reported on Form 1099-MISC.
Find out more on Form 1099 at brainly.com/question/25485090.
Answer:
c. $12,000
Explanation:
In this question, we assume the Fred and Wilma divorced in year i.e before 2019. Since in the question, it is given that the Fred paid $6,000 Wilma and $6,000 directly to the Law school Wilma is attending i.e not related to the child
Both payments are related to Wilma so we consider these payments and reflects the received payment which equals to
= $6,000 + $6,000
= $12,000
All other information which is given is not relevant. Hence, ignored it
