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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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Ava has net earnings from​ self-employment of​ $125,000. She also earned salary of​ $170,000 from a job held earlier in the year
pishuonlain [190]

Answer:

The correct answer is $3,625.

Explanation:

According to the scenario, the given data are as follows:

Self earning = $125,000

Salary income = $170,000

AS we know that, Medicare tax percent = 2.9%

So, we can calculate the medicare tax that will be owed on self employment income by using following formula:

Medicare tax owed = Self earning  × medicare Tax percent

= $125,000 × 2.9%

= $3,625

4 0
4 years ago
In your budgeting process, when should you look at
saw5 [17]

Answer:

i'm assuming recurring expenses are necessities so those would always come first, things you need on top of your regular expenses would come next and any wants you have would come last. "entertainment expenses" would be lumped in with your "wants"  

Explanation:

3 0
3 years ago
Read 2 more answers
A cleverly crafted and well-executed strategy Multiple Choice precludes the capture of emerging opportunities. produces a medioc
enot [183]

The answer choice which is not a cleverly crafted and well-executed strategy is that:

  • produces a mediocre financial performance

<h3>What is a Well Executed Strategy?</h3>

This refers to the careful planning which is done where analysis is done and there is the maximization of potential for profit and expansion.

With this in mind, we can see that from the complete text, we are asked to show the answer choice which is NOT a clever and well executed strategy and it is that it produces a mediocre financial performance.

Read more about planning here:
brainly.com/question/25453419

6 0
3 years ago
National Financial​ Services, Inc. invested $ 24,000 to acquire 5,000 shares of Stonebridge​ Investments, Inc. on March​ 15, 201
Savatey [412]

Answer:

A. Gain on Disposal will be credited

Explanation:

In this question we have to compare the purchase price and sale price per share which is shown below:

The Purchase price per share would be

= Total amount invested ÷ number of shares acquired

= $24,000 ÷ 5,000 shares

= $4.8 per share

And, the sale price per share would be

= Total amount ÷ number of shares sold

= $13,250 ÷ 2,000 shares

= $6.625 per share

Since the sale price per share is higher than the purchase price per share which reflects the gain.

5 0
4 years ago
What is the role of consumers and producers in a free market system
Whitepunk [10]

Answer:

Consumers buy and use the products that producers make and sell to the public. So the roles are consumers=buy while producers=make.

3 0
3 years ago
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