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anyanavicka [17]
3 years ago
14

On June 1, 2016, Enne Brahtz Corporation received $3,600 as advance payment for 12 months' advertising. The receipt was recorded

as a credit to Unearned Fees. What adjusting entry is required on December 31, 2016?
Business
1 answer:
Simora [160]3 years ago
8 0

Answer:

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Explanation:

The adjusting entry is shown below;

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account

The six months could be computed from June 1 to December 31

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monopolistically competitive industry.

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Which of the following is not one of the three advantages of dealing with a financial intermediary?
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On January 2, 2018, Baltimore Company purchased 14,000 shares of the stock of Towson Company at $13 per share. Baltimore obtaine
Norma-Jean [14]

Answer:

$315,600

Explanation:

Ownership = 40%

Investment = $182,000                

Share of dividends = 40%*21,000 =8400

Share of income = 40%*75000 = 30000

Increase in share price = $21-$13= $8

                                                                                 investment

                                                                   Dr                                        Cr

Investment                                     $182,000

Dividend received                                                                              $8400

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Increase in share price                    $112,000

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Question 2 of 10
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Answer:

C.

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