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Nina [5.8K]
3 years ago
9

Tiny Corporation shows a balance in the unearned revenue account of $1,200 at the end of the month. It is determined that $500 o

f that amount remains unearned at this time. The adjusting entry to update the accounts is:___________.
Business
1 answer:
Thepotemich [5.8K]3 years ago
3 0

Answer: The adjusting entry is to DR Unearned Revenue Account with $700 and CR Earned Revenue Account with $700.

Explanation:

A reduction in the unearned revenue account implies that a portion of the unearned revenue has been earned.

Unearned revenue account is a liability account that warehouses revenue paid for but yet to be earned. A reduction in the liability means an income has been earned and recognised.

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A broker has asked his unlicensed assistant to show a buyer property. the most important item the broker should verify prior to
sveta [45]

The most important item the broker should verify prior to the showing is that the assistant should be <u>the </u><u>permission of the seller</u><u> or </u><u>seller's broker</u><u> to show the property.</u>

<h3>What is Seller's Permission?</h3>

The seller's permit, also known as a sales tax permit or sales and use tax permit, is a type of business license that enables you to charge and collect sales tax on goods and services that are taxable. The tax you have collected must then be sent to your state's taxing body by your company. Seller's permits are state-specific, allowing you to complete the transaction in the state where the permit was issued while also collecting and remitting the necessary sales tax. Seller's permits are state-specific, so if you operate in multiple states, you might need more than one.

Therefore, a seller's permit plays a very important role in any sale.

For more information on Seller, refer to the given link:

brainly.com/question/14017882

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4 0
2 years ago
Multi-market competition occurs when two or more diversified firms:
azamat

Answer:

The correct answer is letter "D": simultaneously compete against each other in the same product areas geographic markets.

Explanation:

Multi-market competition happens when companies offering a similar product make contact in multiple markets. The level o competition shapes according to the region where the goods or services are being offered and in different markets, different consumers decide which company is taken as the preferred.

Though, the constant contact of competitors in different regions could decrease their competition since they might use their mutual help in adverse areas to be able to conduct their businesses.

3 0
4 years ago
Scenario: Red Country and Purple Country have identical aggregate production functions. The amount of physical capital stock ava
strojnjashka [21]

Answer:

d

Explanation:

8 0
3 years ago
Determine whether each of the following topics would more likely be studied in microeconomics or microeconomics.
Jlenok [28]

Answer:

<u>The effect of government regulation on a monopolist's production decisions</u>

Explanation:

The effect of a large government budget deficit on the economy's price level

The superavit or deficit of the government is a macroeconomics subject.

The money market is also macroeconomics.

The impact of regulation or specifit taxes or tax extemption on a monopolist's production will be part of microecnomics, because it will impact on which level the monopolist's production finds equilibrium after the legislation.

4 0
3 years ago
You own 230 shares of stock in Green Mild Chili Peppers, Inc., that currently sell for $50.70 per share. The company has announc
Arturiano [62]

Answer:

This equals $12,256.70 (230 x $50.70 + 230 x $2.59)

Explanation:

The value of the portfolio on May 3 is the sum of the market value of the shares plus the sum of the returns in form of dividends to be received.

This value adds the weight of the investment obtained by multiplying the total shares held with its market price to the expected dividend returns on the given date.

6 0
3 years ago
Read 2 more answers
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