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balu736 [363]
3 years ago
14

Murphy Company sublet a portion of its warehouse for five years at an annual rental of $24,000, beginning on May 1, 2010. The te

nant, Sheri Charter, paid one year's rent in advance, which Murphy recorded as a credit to Unearned Rental Revenue. Murphy reports on a calendar-year basis. The adjustment on December 31, 2010 for Murphy should bea. No entryb. Unearned Rent Revenue 8,000Rent Revenue 8,000c. Rent Revenue 8,000Unearned Rent Revenue 8,000d. Unearned Rent Revenue 16,000
Business
1 answer:
jeka57 [31]3 years ago
7 0

Answer:

Correct option is D.

Unearned Rent Revenue Dr. $16,000

Rent Revenue  $16,000

Explanation:

Provided that rent is received for a period of 1 year that is 12 months on May 1, 2010 amounting $24,000

Thus rent per month = $24,000/12 = $2,000 per month

Provided financial year = Calendar year

thus for the year 2010 rent revenue = 1 May to 31 December = $2,000 \times 8 = $16,000

Since revenue = $16,000 for the year and initially was recorded as unearned rent thus for the year $16,000 should be transferred to rent revenue.

For this entry shall be:

Unearned Rent Revenue Dr.           $16,000

         To Rent Revenue                   $16,000

Correct option is D.

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Bruce went shopping at the Hermes store in New York City. This is a very high-end fashion store. When he entered the store, an a
Kazeer [188]

Answer: Full service

Explanation:

The full service retailing is the process which mainly focus on the services during the production of the products or goods rather than the goods.

 The full service retailing mainly focus on storing the informative sales that focus on the high retaining prices and it is customer friendly. The full service retailing is the relationship between the services provider and the customers.

According to the given situation, the Bruce situation clearly depict about the full service retailing process.  

3 0
3 years ago
Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations a
VARVARA [1.3K]

Answer:

Basic = $140.82

Dominator = $392.216

Explanation:

For Basic:

Total cost for Basic:

= Direct materials costs + Direct labor costs + Manufacturing overhead

= $ 11,000 + $72,000 + $128,232

= $211,232

Per unit cost:

= Total cost for Basic ÷ Number of units produced

= $211,232 ÷ 1,500

= $140.82

For Dominator:

Total cost for Dominator:

= Direct materials costs + Direct labor costs + Manufacturing overhead

= $3,500 + $34,000 + $60,554

= $98,054

Per unit cost:

= Total cost for Basic ÷ Number of units produced

= $98,054 ÷ 250

= $392.216

Workings:

Manufacturing overhead (Basic):

= Manufacturing overhead costs × (Direct labor costs ÷ Total direct labor costs)

= $188,786 × ($72,000 ÷ $106,000)

= $128,232

Manufacturing overhead (Dominator):

= Manufacturing overhead costs × (Direct labor costs ÷ Total direct labor costs)

= $188,786 × ($34,000 ÷ $106,000)

= $60,554

7 0
3 years ago
Delta Lighting has 30,000 shares of common stock outstanding at a market price of $15 a share. This stock was originally issued
pochemuha

Answer:

the weighted average cost of capital is 11.57 % .

Explanation:

Market Value of Equity = Number of Common Shares Outstanding × Market Price per share

                                      = 30,000 shares × $15

                                      = $450,000

Market Value of Debt = Face Value × 82%

                                    = $280,000 × 82%

                                    = $229,600

WACC = Ke × (E/V) + Kd × (E/V)

           = 14.00 % × ($450,000/ $679,600) + 6.80 %  × ($229,600/ $679,600)

           = 9.27 % + 2.30 %

           = 11.57 %

3 0
3 years ago
Are starting points for Internet exploring and are interested in channeling surfers to particular sites, especially commercial o
Firdavs [7]

Answer:

<u>Portals.</u>

Explanation:

A portal is defined as an internet site whose purpose is to cluster and make available diverse content from various sources, and acts as an access point for various websites.

In order to function effectively a portal must be designed to withstand the large amount of user access, so that it works properly without slow system and damage to users. As a portal is a channel especially for commercial websites, it is imperative that the team of contributors who feed the portal have access to the large amount of structured and unstructured information, so that there is better organization and search accuracy and prevention of misfortune, such as failures on commercial sites such as a paid purchase that is not registered and ends up lost or a customer unable to access the site information screen.

8 0
3 years ago
What refers to the practices aimed at discovering and harnessing an organizations intellectual resources?
Alla [95]

Answer: Knowledge management

Explanation: Knowledge management approach focuses on making best use of the knowledge with the intent of achieving organisational objectives. It involves discovering, sharing and harnessing of the intellectual resources that a company holds.

Knowledge management brings improved performance, innovation and competitive advantage to the organisation.

4 0
3 years ago
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