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katovenus [111]
3 years ago
10

Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t

he balance sheet at all. An asset account in the balance sheet. A liability account in the balance sheet.
Business
1 answer:
gulaghasi [49]3 years ago
3 0

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

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A mass of warm, moist air rises through the atmosphere. Then clouds form in the air mass as its temperature decreases. How does
KonstantinChe [14]

The difference in humidity is what causes the clouds to form disperse and to rain down.

Explanation:

When there is more humidity it means that there are more water droplets in the air.

This means that these water droplets can join with small particles in the air and form clouds around themselves.

These clouds go up in the air and get cooled down and condense so they then become clouds but they also become heavy because they are cold.

Now that they are heavy they begin to come down and the difference of humidity down below makes it warmer and then the clouds fall with the rain and the process begins again.

8 0
4 years ago
Arthur Industries entered into the following transactions during the month of June. Purchased supplies for $5,300 cash. Paid $4,
VMariaS [17]

Answer:

S/N   Account Titles and Explanation      Debit     Credit

A       Supplies                                             $5,300

              Cash                                                             $5,300

          (To record the purchase of supplies for cash)

B       Salaries and wages expense            $ 4,480

              Cash                                                             $4,480

         (To record the payment of wages and salaries)

C        Prepaid rent                                       $ 560

               Cash                                                             $560

          (To record the payment of prepaid rent for July)

D        Accounts receivable                           $13,400

                Service revenue                                         $13,400

         (To record the services provided on account)

E         Accounts payable                               $800

                   Cash                                                          $800

           (To record the payment made on Accounts payable)

F          Cash                                                     $310

                    Unearned revenue/Deferred revenue    $310

           (To record the unearned services revenue)

G          Repairs and maintenance expense  $410

                     Accounts payable                                     $410

             (To record the accounts payable for repairs expenses incurred)

H           Equipment                                          $740

                      Cash                                                           $740

             (To record the purchase of equipment for cash)

8 0
3 years ago
From an economist's perspective, an important consideration for policies to address global warming is
viktelen [127]

Answer:

The correct answer is letter "C": the marginal cost and marginal benefit of the policies.

Explanation:

The Economic Perspective is a concept that involves making decisions based on the marginal costs and benefits they could carry. Those decisions must be taken because of the basic economic problem of scarcity by which people have unlimited desires but only finite sources to fulfill them.

5 0
3 years ago
The current spot exchange rate Singapore dollar against U.S. dollar (SGD/USD) is 0.6000. After considerable study, an investor c
slega [8]

Answer:

i) Investor should buy a call option as expected spot price on SGD after 90 days is 0.7 which less than the strike price 0.65 under call option.

II) Break-even price on option selected

Strike price under call option   0.65000

Add : Premium                            <u>0.00046</u>

Break even price                       <u> 0.65046</u>

iii)  Actual spot rate after 90 days            0.70000

Less: Strike price under call option        <u>0.65000</u>

Gross profit                                               0.05000

Less: Call option premium                       <u>0.00046 </u>

Net profit                                                  <u>0.04954</u>

iv)  Actual spot rate after 90 days          0.80000

Less: Strike price under call option       <u>0.65000</u>

Gross profit                                             0.15000

Less: Call option premium                      <u>0.00046</u>

Net Profit                                                 <u>0.14954</u>

3 0
3 years ago
Sound Company reported the following amounts for May, 2008: Direct materials purchased $254,000 Beginning raw materials inventor
Yakvenalex [24]

Answer:

$254,100

Explanation:

The computation of the  cost of direct materials used in production is shown below:

=  Direct materials purchased + Beginning raw materials inventory  - Ending raw materials inventory - Indirect materials requisitioned and used

= $254,000 + $12,000 - $7,900 - $4,000

= $254,100

Hence, all the other information is not considered. Therefore, ignored it

6 0
3 years ago
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