Consider the following situations for Shocker

On October 1, Vista View Company rented warehouse space to a tenant for $3,600 per month. The tenant paid five months' rent in a

Damm [24]

Answer:

The adjusting entry needed on December 31 is:

Debit Unearned Rent revenue $10,800

Credit Rent Revenue $10,800

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.

The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.

The adjusting entry needed on December 31 is:

Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)

Credit Rent Revenue $10,800

7 0

3 years ago

The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a fir

My name is Ann [436]

Answer:

1) - proprietorships.

2) - corporations.

3) - proprietorships.

4) - corporations.

Explanation:

So far as figures are concerned, the majority of companies are proprietorships. Even so, mostly based on currency sales revenue, almost all of the trade is conducted by corporations. Businesses are mostly founded as proprietorships and only transformed into corporations until their success results in drawbacks that overshadow the benefits.

So, the following are the reason that describes the following answers are true according to the given scenario.

3 0

3 years ago

If a firm decides it is in the best interest to collaborate on a development project, how would you recommend the firm choose a

Ahat [919]

Answer:

We live in a related world more so now than any time in recent memory before.In this scenery no business can have all the assets to take an interest completely in the worldwide commercial center without key unions, coordinated efforts and organizations.

Effective endeavors are continually searching for assets to ceaselessly enhance their ebb and flow tasks and have the accepted procedures to stay ahead in the race.

Joint effort is a vehicle to supplement the assets of an association and addition abilities to meet certain all around characterized targets. The substance might be deficient with regards to specific assets like money related quality, aptitudes and deliberately it might not have any desire to put resources into their zones of "shortcoming" for some an explanation.

The firm might need to investigate for an imminent accomplice from its realized business system to begin with. Business and informal communities can furnish leads by taking part in conversations with them. Different zones for prospecting could be from the databases of mechanical improvement offices. Tried and true outsider specialist co-ops - offices right now be locked in to discover reasonable possibilities.

By the day's end, organizations are about connections. Common regard for one another and shared qualities are important to have an effective organization to meet every others key business targets through such a joint effort. Essentially each ought to be expertly dedicated to such a dare to guarantee goals are met in soul and word.

The Collaboration ought to be reported in an itemized way that would show the particular jobs of the separate gatherings.

The manual should record governing rules for taking an interest accomplices to assume out their jobs genuinely.

Key audit gatherings, choices on money related expenses must incorporate the state of both the substances in a reasonable way.

Occasional outsider reviews of tasks ought to be a fundamental part of the manual.

3 0

3 years ago

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year,

Anon25 [30]

Answer:

treasury stock 382,000 debit

cash 382,000 credit

cash 342,500 debit

treasury stock 274,000 credit

additional paid-in TS 68,500 credit

cash 84,000 debit

treasury stock 80,000 credit

additional paid-in TS 4,000 credit

additional paid-in TS 72,500

Treasury Stock 28,000

<em>The Treasury Stock will be reported as a decrease to the equity.</em>

Explanation:

19,100 shares x $20 per share = 382,000

13,700 shares x $20 per share = 274,000

13,700 shares x $25 per share = 342,500

additional paid-in = 68,500

4,000 shares x $21 per share = 84,000

4,000 shares x $20 per share = (80,000)

additional paid-in 4,000

68,500 + 4,000 = 72,500 additional paid-in TS

TS 382,000 - 274,000 - 80,000 = 28,000

7 0

3 years ago

Kaselitz Corp. issued a $100,000, 9%, 5-year bond on 1/1/16. Interest is paid each June 30 and December 31. The bond sold for $1

Paladinen [302]

Answer:

Cash interest paid to the bondholders in 2016 is $9,000

Explanation:

The cash interest paid on the bond can be ascertained using the below coupon amount formula:

cash interest=face value*coupon rate

face value of the bond is $100,000

coupon rate is 9%

cash interest=$100,000*9%=$9,000

The cash account would be credited while interest expense is debited with $9000 plus amortization of premium on bonds

5 0

3 years ago