Answer:
Dr Unearned rent revenue 16,800
Cr Rent revenue 16,800
Explanation:
Period 6 months
Period expired at year end which is from September to December = 4 months
December 31
Dr Unearned rent revenue 16,800
(4/6×25,200)
Cr Rent revenue 16,800
Unearned Rent Revenue was debited in order to reduced Liability while Rent Revenue was credited in order to increase revenue.
Answer:
-$2.24
Explanation:
For computation of EPS amount first we need to find out weighted average common shares outstanding and net income available to common stockholders the is shown below:-
Weighted average common shares outstanding = (Outstanding common shares ÷ 2) - (Treasury shares × 4 months ÷ 12 months) + (Issued shares × 2 months ÷ 12 months)
= (230,000 ÷ 2) - (11,500 × 4 ÷ 12) + (4,600 × 2 ÷ 12)
= 115,000 - 3,833.33 + 766.67
= 111,933.34
Net Income Available to Common Stockholders = Net loss - Number of shares × Par value × Shares percentage
= -$250,000 - 2,300 × $10 × 5%
= -$251,150
Earning per share = Net Income Available to Common Stockholders ÷ Weighted average common shares outstanding
= -$251,150 ÷ 111,933.34
= -$2.24
Therefore for computing the earning per share we simply applied the above formula.
Answer:
C) COLA plus 2.4%
Explanation:
COLA stands for cost of living increase. It refers to the amount that Social Security benefits increase according to inflation rate. This way the Social Security payments should not lose purchasing power against rising inflation, because if inflation rises, the COLA will also increase.
In this case, Nancy's union negotiated an agreement by which the union members' salaries would be 2.4% higher than COLA increases, so they will be 2.4% higher than inflation rate.
Answer:
VIGELAND COMPANY
Journal Entries
Date Description DR CR
Jan 15 Merchandising Inventory 14,400
Cash 14,400
Being record of inventory purchase
April 1 Cash 708,000
14% Note payable 708,000
Being the record of note payable issued
June 14 Bank 26,000
Unearned Income 26,000
Being the record of deposit received
July 15 Unearned Income 2,850
Service Revenue 2,850
Being the payment for the services rendered
Dec 12 Electricity bill payable 26,760
Electricity bill expenses 26,760
Being the unsetled bill for the year
Dec 31 Wages payable 29,000
Wages Expenses 29,000
Explanation:
