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7nadin3 [17]
3 years ago
13

XYZ Company received $18,000 on April 1, 2020 for one year's rent in advance and recorded the transaction with a credit to a nom

inal account. The December 31, 2020 adjusting entry is
Business
1 answer:
djverab [1.8K]3 years ago
7 0

Answer:

Dr Rent revenue

Cr Unearned rent revenue, $4,500

Explanation:

Preparation of XYZ Company Journal entry

Since we were told that the Company received the amount of $18,000 on April 1, 2020 for a one year's rent paid in advance in which the transaction has a credit to a nominal account, this means we have to record the transaction by Debiting Rent revenue with 4,500 and Crediting Unearned rent revenue, with the same amount of $4,500 calculated as

(3/12 x $18,000 ).

Dr Rent revenue

Cr Unearned rent revenue, $4,500

(3/12 x $18,000 )

You might be interested in
XYZ Company earned operating income of $1,500,000 before income taxes. Capital employed equaled $10,000,000, of which $1,000,000
m_a_m_a [10]

Answer:

The answer is creating wealth, with the economic value added is $390,000

Explanation:

The company WACC is: Percentage of mortgage bond in capital employed x Cost of mortgage bond x ( 1 - tax rate) + Percentage of unsecured bond in capital employed x Cost of unsecured bond x ( 1 - tax rate) + Percentage of common stock in capital employed x cost of common stock

In which:  Percentage of mortgage bond in capital employed = 1,000,000/10,000,000 = 10%

Percentage of unsecured bond in capital employed = 3,000,000/10,000,000 = 30%;

Percentage of common stock in capital employed = (10,000,000 - 1,000,000 - 3,000,000) /10,000,000 = 60%

Cost of common stock = Risk free rate + Risk premium = 10% + 5% = 15%;

Tax rate = 40%

Thus, WACC = 10% x 8% x ( 1- 40%) + 30% x 9% x (1-40%) + 60% x 15% = 11.10%.

Thus, Capital cost per year: Capital employed x WACC = 10,000,000 x 11.10% = $1,110,000.

Economic value added = Operating Income - Capital cost = 1,500,000 - 1,110,000 = $390,000.

3 0
3 years ago
When a single broker represents both parties in a real estate transaction, a _______ agency may exist.
Nataliya [291]

Answer:

Dual

Explanation:

real estate transaction,which is used to convey ownership of a particular property to the buyer whereby there is a mutual agreement on some terms. The contract may be long it in shirt time.the end process is usually reffered to as “closing,” and this is a term that explains that both parties need to fulfill all terms and conditions that is associated with the exchange.

It should be noted that When a single broker represents both parties in a real estate transaction, a dual agency may exist.

7 0
3 years ago
At the break-even point:
OlgaM077 [116]

Answer:

D. Contribution margin would be equal to total fixed costs

Explanation:

As we know that

break even point is the point at which the firm is earning no profit or no loss suffered

In equation, it is

Total cost = Total revenues

In addition,

The contribution margin = Sales - variable expenses

Therefore

The contribution margin = Fixed cost = break even point

If we subtract the contribution margin from the fixed cost the amount should be zero which implies the break even point

5 0
3 years ago
A single-lane bridge connects village A to village B. Farmers in the two villages use this bridge to deliver their products to t
Nookie1986 [14]

Answer:

Answer: Main Java

Explanation:

code:

Main.java

import java.lang.InterruptedException;

import java.lang.Thread;

import java.util.Random;

public class Main {

   final private static int FARMERS = 10;

   public static void main(String[] args) {

       Bridge bridge = new Bridge();

       Random r = new Random();

       System.out.println("Running with " + FARMERS + " farmers...");

       // Enter a bunch of farmers from different directions.

       for (int i = 0; i < FARMERS; i++) {

           Farmer farmer;

           if (r.nextBoolean()) {

               farmer = new SouthBoundFarmer(bridge);

           } else {

               farmer = new NorthBoundFarmer(bridge);

           }

           cross(farmer);

       }

   }

   private static void cross(Farmer f) {

       new Thread(f).start();

   }

}

SouthBoundFarmer.java

public class SouthBoundFarmer extends Farmer {

   public SouthBoundFarmer(Bridge b) {

       super(b);

       this.name = "South";

   }

}

Farmer.java

import java.lang.InterruptedException;

import java.util.Random;

public class Farmer implements Runnable {

   private Bridge bridge;

   private Random random;

   protected String name;

   public Farmer(Bridge b) {

       this.bridge = b;

       this.random = new Random();

   }

   public void crossBridge(Bridge bridge) {

       System.out.println("[" + this.name + "] Waiting to enter bridge...");

       try {

           bridge.enter();

           System.out.println("[" + this.name + "] Entering bridge...");

           // Crossing bridge...some farmers are fast, others are slow :P

           Thread.sleep(1000 + random.nextInt(9000));

           System.out.println("[" + this.name + "] Leaving bridge...");

       } catch (InterruptedException e) {

           System.out.println("...Interrupted!");

       } finally {

           bridge.leave();

       }

   }

   public void run() {

       this.crossBridge(this.bridge);

   }

}

5 0
3 years ago
The physical production possibilities frontier depicts the various combinations of output that society can produce given:_____.
Kay [80]

Answer:

The correct answer is the option C: the constraints of finite resources and the current state of technology.

Explanation:

To begin with, the <em>production-possibility frontier</em> is a concept known in the area of economy that refers to a curve whose main purpose is to show various combinations of output betweem two goods that the society can produce given finite resources and the current state of technology. Therefore that it comprehends the graphical representation of all that possible combinations between those two goods where the finite resources and the current state of technology are the two most important factors to take in mind.

8 0
3 years ago
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