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vesna_86 [32]
3 years ago
5

Cheyenne Corp. received a check for $15840 on July 1, which represents a 6-month advance payment of rent on a building it rents

to a client. Unearned Rent Revenue was credited for the full $15840. Financial statements will be prepared on July 31. Cheyenne's should make the following adjusting entry on July 31:
a. Debit Unearned Rent Revenue, $15840; Credit Rent Revenue, $15840.
b. Debit Cash, $15840; Credit Rent Revenue, $15840.
c. Debit Unearned Rent Revenue, $4710; Credit Rent Revenue, $4710. d. Debit Rent Revenue, $4710; Credit Unearned Rent Revenue, $4710.
Business
1 answer:
strojnjashka [21]3 years ago
7 0

Answer:

Debit Unearned Rent Revenue, $2640;

Credit Rent Revenue, $2640.

(Not given in the options)

Explanation:

Cash collected in advance results in the creation of an asset and a liability in the company's books. The asset is accounted for as a debit in cash account and the liability as a credit to Unearned Rent Revenue.

To recognized revenue when it is earned, credit revenue and debit Unearned Rent Revenue with the amount earned to reduce the liability by the amount amount earned.

Between  1 July and 31 July is a month, the revenue earned in one month

= 1/6 × $15840

= $2640

This is recognized at 31 July by

Debit Unearned Rent Revenue, $2640;

Credit Rent Revenue, $2640.

Being entries to recognize revenue earned at the end of the period.

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What are the opportunity offers by<br>vocational education?​
SVEN [57.7K]

Answer:

Where I grew up, I went to a vocational school for just the beginning of the year, then left to a charter school, At a vocational school, I can choose a cooking class, welding, mechanic, and some other neat stuff, it's kinda of preparing you to be independent, but also you can do it working with other people too.

They are strict with absences and tardies, 3 tardies make one absence, and absences put penalties on your highschool resume/record, depending on how many penalties from absences and tardies you get, they kick you out of the school which is not fair if you have construction workers on the road  slowing you down on your way to school for 3 months.

If you do a vocational school, collages you want to go to are more likely to take you in faster than a person who went to a regular high school.

8 0
3 years ago
CVS pharmacy collects data from bar-coded products. These data can be evaluated and combined to monitor which CVS products are i
Pani-rosa [81]

Answer:

InfoScan.

Explanation:

A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.

Basically, a universal product code (UPC) comprises of two (2) main parts;

A machine-readable barcode that contains sets of vertical black lines.

A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.

The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.

Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.

In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.

3 0
3 years ago
Gugenheim, Inc., has a bond outstanding with a coupon rate of 6.4 percent and annual payments. The yield to maturity is 7.6 perc
Oliga [24]

Answer:

Price of the bond is $1,757

Explanation:

Coupon payment = 2000 x 6.4% = $128 annually

Number of periods = n = 20 years

Yield to maturity = 7.6% annually

Price of bond is the present value of future cash flows, to calculate Price of the bond use following formula

Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Price of the Bond = $128 x [ ( 1 - ( 1 + 7.6% )^-20 ) / 7.6% ] + [ 2,000 / ( 1 + 7.6% )^20 ]

Price of the Bond = $128 x [ ( 1 - ( 1.076 )^-20 ) / 0.076 ] + [ 2,000 / ( 1.076 )^20 ]

Price of the Bond = $1295.03 + $462.15

Price of the Bond = $1,757.18

5 0
3 years ago
If a marketer is asking "where is the product typically bought by customers in the international market segments?," what element
Svetradugi [14.3K]
<span>The marketing mix element being addressed is Place. Place refers to the various channels that a business takes product to market. Traditionally, place has referred to the physical locations where a business carries out fulfillment of it orders but in recent times, mail order and websites with online ordering facilities falls under this element.</span>
6 0
4 years ago
Read 2 more answers
Robin and Bellman, both merchants, orally agree to a contract for the sale of $5000 of accessories. Bellman, the buyer, sends to
AleksandrR [38]

Answer:

enforceable even without Robin's signature because both parties are merchants.

Explanation:

Enforceable law defines when one person performs legally contract and that party enforce or impose to the other.

Therefore in the given situation, Robin sends the written confirmation of the sale, which was sufficient under the statute of frauds, Bellman signs and Robin fails to send the goods. So, this contract is enforceable because without Robin's signature because both parties are merchants.

8 0
3 years ago
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