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
nataly862011 [7]
2 years ago
5

Bramble Corp. received a check for $17640 on July 1, which represents a 6-month advance payment of rent on a building it rents t

o a client. Unearned Rent Revenue was credited for the full $17640. Financial statements will be prepared on July 31. Bramble's should make the following adjusting entry on July 31:_______.
a. debit Unearned Rent Revenue, $2,500; credit Rent Revenue, $2,500.
b. debit Rent Revenue, $2,500; credit Unearned Rent Revenue, $2,500.
c. debit Unearned Rent Revenue, $15,000; credit Rent Revenue, $15,000.
d. debit Cash, $15,000; credit Rent Revenue, $15,000.
Business
1 answer:
natta225 [31]2 years ago
8 0

Explanation:

The adjusting entry is shown below:

Unearned rent revenue Dr $2,940

         To rent revenue $2,940

(Being the unearned rent revenue is recorded)

The computation is shown below

= Advance payment ÷ given number of months

= $17,640 ÷ 6 months

= $2,940

This $2,940 represent the one month payment and the same is to be recorded

This is the answer and the options that are given are wrong

You might be interested in
Terrence Industries charges manufacturing overhead to products by using a predetermined application rate, computed on the basis
puteri [66]

Answer:

See below

Explanation:

First, we need to get the predetermined rate

Predetermined rate = Cost of manufacturing overhead / Cost driver

= $1,800,000/60,000

= $30

We will now calculate the application.

Actual labor hours × rate

= 61,500 × $30

= $1,845,000

We will now compare actual with overhead cost

= Applied Overhead cost - Actual manufacturing overhead

= $1,845,000 - $1,810,000

= $35,000

The above is an over application of overhead cost because the cost applied exceed the actual cost.

5 0
2 years ago
A deficit on the current account Multiple Choice means that a nation is making international transfers. has no relationship to t
Sliva [168]

Answer:

The correct option is C

Explanation:

The deficit or shortage on the current account of the country, is defined as the measurement or determination of the trade of the company where the goods and the service value, it imports exceeds or increase the value of the products it exports.

The current account of the country states the foreign transactions of the country within the time period.

So, when there is deficit or shortage on the current account, it means that usually, it will cause deficit in the finance as well as the capital account of the country.

4 0
3 years ago
Refer to Landfall Service. Because the company is known for its ability to produce lawn furniture more efficiently than any othe
e-lub [12.9K]

The company must have absolute advantage.

Having been in business for a while, Landfall Service is a provider of outdoor furniture. Greater than any other company in the country, it is renowned for its capacity to make furniture quickly. The truth is that no rival businesses exist in any other country. Many of the items offered by Landfall Service have been exported. Actually, sales outside of the United States account for 80% of company income. In order to support domestic businesses, the Italian government has slapped a tax on imported furniture. On the other hand, because the government wanted a piece of the action, the Brazilian government levied taxes on Landfall Service items.

Learn more about Absolute Advantage Here

brainly.com/question/9067127

#SPJ10

3 0
2 years ago
Rents of $750.00 per month on each unit of a 4-plex are current. for an october 16th closing, the rent proration on the settleme
Lady bird [3.3K]

Rents of $750.00 per month on each unit of a 4-plex are current. For an October 16th closing, the rent proration on the settlement statement would be $1,548.38 Credit Buyer & Debit Seller.

-Seller must pay buyer for the days the buyer owns the property, Oct 16 - 31, 16 days. $750 x 4 /31 = $96.77 per day x 16 = $1548.38

<h3>What does it mean to prorate your rent?</h3>

The amount a landlord charges is referred to as "prorated rent" and is only applied to the days the unit is occupied when a resident occupies it for a short period of time (a month, week, day, etc.). Given that daily rates are frequently more expensive, it is based on monthly rates instead than daily rates.

You must first determine the daily rent in order to figure out how much prorated rent will be. Divide the overall rent payment by the number of days in a month to arrive at this. Then double the acquired daily rent amount by the number of days you will be occupying the property during that month.

To learn more about rent proration visit:

brainly.com/question/14087263

#SPJ4

5 0
1 year ago
Explain what the implications are to the Canadian economy if the brain drain is not stopped? Within the implications, consider t
Alinara [238K]

Answer:

Low tax collection, low working population

Explanation:

Brain drain is a condition where a country loses its population through migration. Generally, this happens with the low developing countries, because people try to search for jobs in developed countries. Canada will lose tax revenue collection and low working population as a result of the brain drain. Government is the most important stakeholder which will be affected by brain drain apart from that; hospitals and industrial units will be affected by the brain drain.

6 0
2 years ago
Other questions:
  • Positively Rivet Inc. is a small machine shop that produces sheet metal products. It had one line dedicated to the manufacture o
    8·1 answer
  • In which stage would you typically expect to see large negative Financing Cash Flows?
    9·1 answer
  • Match each situation below to two applicable reasons that require an adjustment to be made.
    15·1 answer
  • U.S.-based royal corporation is hesitant about entering into a licensing agreement with hexagon, inc., a company from the monasl
    15·1 answer
  • The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is:
    14·1 answer
  • in industires where international competition is so fieerce and the costs of competing on a global basis are so high that only a
    6·1 answer
  • What advertising technique focuses on the positive and ignores any negative aspects in the product? Glittering Generalities Weas
    15·1 answer
  • Bill is considering investing $450 at the end of every month in a fixed income instrument. He will receive $27,000 at the end of
    12·1 answer
  • Capacity management, denominator-level capacity concepts. Match each of the following numbered descriptions with one or more of
    7·1 answer
  • Marble Construction estimates that its WACC is 10% if equity comes from retained earnings. However, if the company issues new st
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!