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Phantasy [73]
3 years ago
13

On December 1, 2018, Shamrock Company received $9,600 from Destiny, Inc. for rent of an office owned by Shamrock Company. The pa

yment covers the period from December 1, 2018 through February 28, 2019. Shamrock Company recorded this as Deferred Rent Revenue when it was received on December 1. The adjusting entry on December 31 would include a:
a. debit to Rent Revenue of $4,800.
b. credit to Rent Revenue of $3,200.
c. debit to Deferred Rent Revenue of $4,800.
d. credit to Deferred Rent Revenue of $3,200.
Business
1 answer:
andrey2020 [161]3 years ago
4 0

Answer:

b. credit to Rent Revenue of $3,200

Explanation:

Cash collected in advance results in the the creation of an asset and a liability. Hence a debit to cash account and a credit to deferred revenue. When the revenue is earned, it is recognized as a credit to revenue and a debit to deferred revenue with the amount earned.

Amount earned as at December 31

=  1/3 × $9,600

= $3,200

Entries required

Debit Deferred Rent revenue   $3,200

Credit Rent Revenue                 $3,200

Being entries to recognize revenue earned as at December 31

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write down the formula that is used to calculate the yield to maturity on a 20 year 10% coupon bond with $1000 face value that s
Gennadij [26K]
The formula is

C+ F-P divided by N then the fraction bar F+p divided by 2 that should get your answer

5 0
3 years ago
Miriam and Devon are both upper-level managers, but have very different decision-making styles. Please name and describe in your
Sav [38]

There are various decision making styles of managers, the 4 different kind of manager decision making styles are listed below,

1. Directive

2. Analytical

3. Conceptual

4. Behavioral

Each of these method depend on the style of manager and the situation he is facing.

The directive style decision making style is used for firm decision making, in which ideas are not appreciated by the juniors. This is an aggressive decision making style

Analytical decision making style is one which focuses on finding the best possible solution to the problems after considering all alternative solutions

Conceptual decision making style is one in which managers are achievement oriented and they wish to see brighter future.

Behavioral decision making style is one in which nature of manager is persuasive and he believes gathering ideas from colleagues before making a decision.

Learn more at brainly.com/question/24383317

3 0
2 years ago
First Among Best Solar Inc. announces thatthey will take back free of cost, all of their solar panels that are no longer useful.
kolezko [41]

Answer:

Total Cost of ownership

Post ownership cost

Explanation:

Total cost of Ownership is the the sum of all the amount spent on an item,which includes the cost of purchase,servicing,repair, disposal etc. It is a management tool adopted by marketers and financial analyst to help determine the total costs associated with an item.

Post ownership cost is the total amount involved in disposal of an item,it also include the salvage costs of the item and more recently some other cost like environment costs, liability cost etc.

When the company takes back the panel it will reduce both of Total cost of ownership and Post ownership cost.

7 0
2 years ago
Flemington Farms is evaluating an extra dividend versus a share repurchase. In either case, $15,000 would be spent. Current earn
lesya [120]

Answer:

correct option is a) 24.87; 24.87

Explanation:

given data

spent = $15000

current earnings = $2.80 per share

stock currently sells = $75 per share

shares outstanding = 2,800

top find out

PE ratio

solution

first we get here dividend per share that is express as

dividend per share = \frac{spent}{outstanding\ share}   ................1

dividend per share = \frac{15000}{2800}

dividend per share = $5.3571

and price after dividend will be here as

price after dividend = stock currently sells - dividend per share    ............2

price after dividend = $75 - $5.3571

price after dividend = $69.6429

so  PE ratio will be

PE ratio is = \frac{69.6429}{2.80}

PE ratio is = 24.87

and

now we get share  repurchased  that is

shares repurchased = \frac{spent}{stock\ currently\ sells}    .......3

shares repurchased = \frac{15000}{75}      

shares repurchased = 200      

so EPS will be  as

EPS is = 2.80 × \frac{2800}{2600}

EPS = 3.015  

so PE ratio will be as

PE ratio is  = \frac{75}{3.015}

PE ratio is = 24.87

correct option is a) 24.87; 24.87

7 0
3 years ago
A company uses the percent of sales method to determine its bad debts expense. Atthe end of the current year, the company's unad
nevsk [136]

Answer:

Explanation:

The journal entries are shown below;

Bad debt expense A/c Dr   $2,421

  To Allowance for doubtful debts  A/c  $2,421

(Being bad debt expense is recorded)

The computation of the bad debt expense is given below

= Net sales × estimated percentage given

= $807,000 × 0.3%

= $2,421

To determine the estimated bad debt expenses we debited the bad debt expense account and credited the allowance for doubtful debts

8 0
3 years ago
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