Answer:
Adjusting entries
Dr Unearned rent revenue $47,800
Cr Rent revenue $47,800 to record accrued rent revenue.
Explanation:
Contract value for one year $71,700
One month of rent $71,700/12 = $5,975
We will need to get how many month that has passed from May to December i.e 8 months
Value of 8 month of rent = 8 × $5,975
= $47,800 i.e earned portion of the contract.
Balance unearned rent revenue at year end= $71,700 - $47,800
= $23,900
Answer:
Wilturner Company
The journal entries to record the labor for the Assembly Department would include:
Debit Work in Process $155,000
Credit Direct labor $90,000
Credit Variable factory overhead $39,000
Credit Fixed factory overhead $26,000
To record the direct and indirect labor costs of the assembly department.
Explanation:
a) Data and Analysis:
Direct labor $90,000
Variable overhead (labor) $39,000
Fixed overhead (labor) $26,000
b) The direct labor cost = $90,000 and Factory overhead costs = $65,000 ($39,000 + $26,000)
Answer:
Sally is guilty of insider trading violation which she has done by tipping the information to Alice.
Explanation:
Sally has committed an unlawful practice by giving away inside information to a friend named Alice. The inside (confidential) information is used to get tipped off, or it can be used to tip off someone else which leads to further unlawful practices which in this case is ‘Check Kitting’, and it is a type of theft and larceny which is used to get the advantage of non-existing funds.
Answer:
D) $4,200
Explanation:
Martin's expenses on land = taxes of $2,800 + mortgage interest of $900 a+ liability insurance of $500 = $4,200
Complete Question:
An investment adviser has placed an order with the underwriter for 250,000 shares of XYZ stock, a new company that will be listed on NASDAQ. The adviser will allocate this purchase to its largest discretionary accounts. This action is a(n):
Group of answer choices
A. breach of fiduciary duty
B. front-running violation
C. fair and reasonable practice
D. insider trading violation
Answer:
breach of fiduciary duty.
Explanation:
In this scenario, an investment adviser has placed an order with the underwriter for 250,000 shares of XYZ stock, a new company that will be listed on NASDAQ. The adviser will allocate this purchase to its largest discretionary accounts. This action is a breach of fiduciary duty.
According to the Securities and Exchange Commission (SEC), if a registered investment adviser favours a client over another while allocating a block, it simply means that the registered investment adviser has violated his or her fiduciary duty to the other customers who were denied a piece of the block.
