The market for carbon allowances is set by the regulatory authority.
Answer: Limited Liability Company
Explanation:
LLC abbreviated as the Limited liability company is described as the corporate arrangement under which owners tend to be not independently liable for the organization's liabilities or their debts. The Limited liability companies are also known as the hybrid bodies that tend to combine characteristics of an organization with that of a sole proprietorship or partnership.
The adjusting entry made on December 31 by Fragment company would be: A debit to Unearned Revenue and a credit to Rent Revenue for $2,475.
<h3>What is revenue?</h3>
Revenue is income earned by an individual or a business from the sale of any products or services offered. It is the value of all sales of goods and services recognized by a company in a period.
Amount unearned = Amount of total rent (3months / 8 months)
Amount unearned = 6,600 [3/8]
Amount unearned = $2,475
Journal entry:
Unearned rent A/c Dr $2,475
Rent A/c Cr $2,475
[Debit to Unearned Rent
Credit to Rent Earned for $2,475]
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