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Natasha_Volkova [10]
3 years ago
7

Pharoah Company sublet a portion of its warehouse for five years at an annual rental of $71700, beginning on May 1, 2017. The te

nant, Sheri Charter, paid one year's rent in advance, which Pharoah recorded as a credit to Unearned Rent Revenue. Pharoah reports on a calendar-year basis. The adjustment on December 31, 2017 for Pharoah should be
Business
1 answer:
MAXImum [283]3 years ago
4 0

Answer:

Adjusting entries

Dr Unearned rent revenue $47,800

Cr Rent revenue $47,800 to record accrued rent revenue.

Explanation:

Contract value for one year $71,700

One month of rent $71,700/12 = $5,975

We will need to get how many month that has passed from May to December i.e 8 months

Value of 8 month of rent = 8 × $5,975

= $47,800 i.e earned portion of the contract.

Balance unearned rent revenue at year end= $71,700 - $47,800

= $23,900

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Niler Corporation reported the following after-tax information for its current fiscal year: $35,000 income from continuing opera
Helen [10]

Answer:

The net income for Niler Corporation for the current year is $30,900.

Explanation:

When there is a discontinued operation, the income from the discontinued operation is added to the income from continuing operations while the loss on disposal of the same operation is added to obtain the net income for the company. This can be done as follows for this question:

Niler Corporation

Partial Income Statement

<u>Details                                                                               $       </u>

Income from continuing operations                           35,000

income from operations of discontinued Line C         8,400

Loss on disposal of Line C                                         <u> (12,500) </u>

Net income                                                                  <u> 30,900  </u>

Therefore, the net income for Niler Corporation for the current year is $30,900.

4 0
3 years ago
The economic activities that typically produce an intangible product are referred to as
valentina_108 [34]

Answer:

The correct answer is: services.

Explanation:

Services can be defined as economic activities that produce intangible and non-physical products. For instance, education, health, tourism, hospitality, etc.  

Services cannot be stored in inventory. They are produced and consumed at the same time. They cannot be produced in advance to be used in the future.

6 0
3 years ago
Is the inside of your car feeling hot on a summer day conduction, convection, or radiation
weqwewe [10]
Conduction because heat is directly transmitted through a substance where there is a difference of temp. without movement of material :)
6 0
3 years ago
Lorenzo Peterson was swimming in a swimming pool with a friend at an apartment com­plex. Lorenzo watched his friend swim to the
Naya [18.7K]

Answer: See explanation

Explanation:

1. Yes.

A design defect is when the design for a particular product brings about risk or injury which could have been averted if the design was done in another way.

With regard to the question, there is a design defect as we're informed that the drain cover becomes loose and we're further told that Sta-Rite did not install safety fea­tures on its drain pumps.

2. No.

Based on the scenario in the question, the ethical duty wasn't met by Sta-Rite Industries. They neglected the potential injury and harm that their design would cause. This means that they didn't perform their ethical duty well.

3. Yes.

In this case, Sta-Rite has to compensate the affected person and a punitive damage should further be added to whatever compensation had been put in place. This will serve as a way of making others also learn and always do the right thing and be safety conscious.

7 0
3 years ago
Tarihteki ilk padişah kimdir?​
Mnenie [13.5K]

Answer:

1osman Gazi bey dir

2Orhan bey gelir

3Murat Hüdâvendigâr, Şehit

4Bayezid Yıldırım, Sultân-î İklim-i Rûm

5 0
3 years ago
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