1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nikolay [14]
3 years ago
8

Alex Company rents space to a tenant for $2,200, per month. The tenant currently owes two months rent, November and December. Th

e tenant has agreed to pay the November, December, and January rents in full on January 15 and has agreed not to fall behind again. The adjusting entry needed on December 31 is:
a. Debit Rent Receivable, $6,600; credit Rent Earned, $6,600.

b. Debit Unearned Rent, $4,400; credit Rent Earned, $4,400.

c. Debit Unearned Rent, $2,200; credit Rent Earned, $2,200.

d. Debit Rent Receivable, $4,400; credit Rent Earned, $4,400.

e. Debit Rent Receivable, $2,200; credit Rent Earned, $2,200
Business
1 answer:
kaheart [24]3 years ago
5 0

Answer:

The correct answer is D

Explanation:

The journal entry which is to be posted on December 31, is as:

Rent receivable A/c............................Dr   $4,400

        Rent Earned A/c...............................Cr    $4,400

As the two months rent is not paid so the adjusting entry which is to be posted is that the rent receivable account is debited whereas the rent earned account is credited with the amount of two months rent. (which is $2,200 + $2,200 = $4,400).

You might be interested in
Your family is expanding in number, and so you decide to sell your current home and upgrade to a larger home. You estimate that
castortr0y [4]

Answer:

The Estimated Monthly Mortgage Payment

=    $2,810.81

Explanation:

Data and Calculations:

House price = $475,000

Down payment = $100,000

Percentage of down payment = 21.05% ($100,000/$475,000 * 100)

Finance period = 15 years = 180 months (15 * 12)

Nominal annual interest compounded monthly = 4%

The estimated monthly mortgage payment using an online finance calculator:

Monthly Pay:   $2,810.81

House Price $475,000.00

Loan Amount $380,000.00

Down Payment $95,000.00

Total of 180 Mortgage Payments $505,946.54

Total Interest $125,946.54

Mortgage Payoff Date Jan. 2036

6 0
3 years ago
Which of the following integrates the functions of operations management, logistics management, procurement, and marketing chann
MA_775_DIABLO [31]

Answer: Supply chain management

Explanation: The supply chain management is a form of organizational management that oversees the production, storing and distribution of the products from a manufacturing company to the end user/retailer. The supply chain manager ensures that the right amount of product is produced to meet the needs of the target market.

The supply chain manager also supervises the various channels of supply of a company's product.

7 0
3 years ago
A new business owner would want to know the competition’s strengths for all the following reasons EXCEPT
Rudiy27

Answer:

Option D

To me, I think option D is the most preferred answer

6 0
3 years ago
Hunter & Sons sells a single model of meat smoker for use in the home. The smokers have the following price and cost charact
Yuri [45]

Answer:

a. 7,900

b. 10,100

Explanation:

As for the provided information,

We know at break even point taxes shall be = 0 as there are no profits and no losses.

a. At break even: = \frac{Fixed\ Cost}{Contribution}

Fixed Cost = $308,100

Contribution per unit = Selling price - Variable cost = $79 - $40 = $39

Therefore, break even units = \frac{308,100}{39} = 7,900 smokers

b. In case the company wants a profit of $51,480 after tax @ 40% then,

Earnings before taxes = \frac{51,480}{1 - 0.4} = $85,800

Therefore, number of units = \frac{Fixed\ Cost + Profit\ before\ tax}{Contribution\ per\ unit}

= \frac{308,100 + 85,800}{39} = 10,100

5 0
3 years ago
Mortimer loves sushi. he loves sushi so much that he asks his congressional representative to work for passage of a binding pric
Flauer [41]

First option.

Indeed, some people may benefit by paying the artificial price, but not all as other people may not be able to satisffy all their demand as a price ceiling will also effectively create a shortage due to the low prices disincentivizing producers.

8 0
3 years ago
Other questions:
  • Assume that Zambia has a domestic investment of $1500 billion, private domestic savings of $3000 billion, and a government defic
    12·1 answer
  • Calculate the present value of the following annuity streams:
    5·1 answer
  • A company was formed with $60,000 cash contributed by its owners in exchange for common stock. The company borrowed $30,000 from
    13·1 answer
  • Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years, because
    6·1 answer
  • In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures from histori
    14·1 answer
  • Waterway Industries reported the following data: 2020 2021 Sales $2980000 $4850000 Net Income 293000 391000 Assets at year end 1
    7·1 answer
  • Integrating management theories (Lead)
    5·1 answer
  • St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production w
    9·1 answer
  • What is a tax return?
    8·2 answers
  • A(n) ________ of a nation's currency will cause imports to ________ and exports to ________, all other things held constant. A)
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!