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DIA [1.3K]
2 years ago
11

Kingbird Corporation owns a warehouse. On November 1, it rented storage space to a lessee (tenant) for 3 months for a total cash

payment of $2,790 received in advance. Prepare Kingbird’s November 1 journal entry and the December 31 annual adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Business
1 answer:
Nikitich [7]2 years ago
3 0

Answer:

cash                  2,790 debit

        unearned revene 2,790 credit

unearned revenue 1,860 debit

           rent revenue    1,860 credit

Explanation:

The revenue from the rent is unearned as currently the firm has to provide the rent spance for three months It will be earned as time passes.

At year-end December 31th we have earned 2 months (Nov and Dec) therefore we reocgnize for that amount

2,790 x 2/3 months = 1,860 rent revenue

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Suppose the National Bureau of Economic Research (NBER) comes out with a report suggesting that the economy will soon dip into r
sweet [91]

Answer:

(D) The cyclical unemployment

Explanation:

Business activity is subject to the comings and goings of private initiative, so the expansion and recession phases of the economy affect the number of unemployed.

<u>Cyclical unemployment</u> increases considerably during times of recession, due to the deterioration of economic conditions; while decreasing in the stages of expansion, due to the improvement of the economy.

Governments try to reduce the incidence of this type of unemployment by softening the transition between different economic cycles. The objective is that the labor supply does not vary significantly between the stages of expansion and recession so that its demand is not excessively impaired.

3 0
3 years ago
A company pays a constant 6.5 dividend on stock. The dividend will maintain for the next 12 years and cease forever. The require
zalisa [80]

Answer:

$46.31

Explanation:

Calculation to determine the current share price

Using this formula

Current share price=6.5*Present value of annuity factor(9.1%,12)

Present value of annuity=Annuity*[1-(1+interest rate)^-time period]/rate

Let plug in the formula

Current share price=6.5*[1-(1+0.091)^-12]/0.091

Current share price=6.5*[1-(1.091)^-12]/0.091

Current share price=6.5*7.124793

Current share price=$46.31

Therefore the current share price will be $46.31

6 0
3 years ago
What type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order
suter [353]
The right answer for the question that is being asked and shown above is that: "Activity." The type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities is called the <span>Activity </span>
7 0
2 years ago
True or False: The Law of One Price states that in competitive markets free of transportation costs and barriers to trade (such
sukhopar [10]

Answer:

It is False

The law of one price (LOOP) states that in the absence of trade frictions (such as transport costs and tariffs), and under conditions of free competition and price flexibility (where no individual sellers or buyers have power to manipulate prices and prices can freely adjust), identical goods sold in different.

4 0
2 years ago
Read 2 more answers
Which of the following is a contrary indicator?A) odd-lot tradingB) breadth of market and market volumeC) short-interest and the
garri49 [273]

Answer:

Short Interest and the Advance/Decline line

Explanation:

The Short Interest and the advance/descent line, also known as the AD line, is an indicator of market amplitude that gives the same weight to all the values ​​of an index or market. The advance/descent line, also known as the AD line, is an indicator of market breadth that gives the same weight to all the values ​​of an index or market.

The advance / descent line is an indicator of market breadth because it informs us of the general market movement. Similarly, when we say that it gives the same weight to all stock index values, we are saying that for the forward / down line all values ​​are equally important.

What really interests this indicator, being of market breadth, is to see if the price movement is accompanied by the movement of the indicator.

4 0
2 years ago
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