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sweet [91]
3 years ago
13

Pappy Corporation received cash of $36,000 on September 1,2017 for one year's rent in advance and recorded the transaction with

a credit to Unearned Rent December 31, 2017 adjusting entry is
debit Rent Revenue and credit Unearned Rent Revenue, $12,000.
debit Rent Revenue and credit Unearned Rent Revenue, $24,000.
debit Unearned Rent Revenue and credit Rent Revenue, $12,000.
debit Cash and credit Unearned Rent Revenue, $24,000
Business
1 answer:
fenix001 [56]3 years ago
6 0

Answer:

debit Unearned Rent Revenue and credit Rent Revenue, $12,000.

Explanation:

Provided information we have,

Rent is received on 1 September 2017 for a period of 1 year on which it is accounted as Unearned Rent amounting $36,000.

Entry on that date would be

Cash A/c Dr.                  $36,000

To Unearned Rent                        $36,000

At the end of the year on 31 December 2017, we have period of current year lapsed = 1 September to 31 December = 4 months.

Thus rent income for the year = $36,000 \times \frac{4}{12} = $12,000

Therefore this rent of $12,000 will be recognized as rent income for the year 2017.

Entry will be

Unearned Rent A/c Dr.            $12,000

          To Rent Revenue                         $12,000

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choli [55]

Answer:

Exploration

Explanation:

The exploration phase of the relationship development process occurs when both parties (seller and buyer) test the actions of the other party. Both parties will explore or try how the business relationship may develop, since they are not committed yet to start a relationship.

The owner accepted to purchase a small number of uniforms to try how good or bad they are. Andy is also testing if what the owner says is true about opening new centers and needing a lot of uniforms before making an offer for a larger lot.

7 0
4 years ago
According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain e
Roman55 [17]

Answer:

According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.

Explanation:

The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.

6 0
3 years ago
"The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same
Pani-rosa [81]

Answer:

Customer-segment pricing

Explanation:

Customer-segment pricing is a form where the price of the product is grounded on the segment of the customer. It is the segmentation of the price, where the different prices are charged to different people for the similar or the same service or the product.

In this case, the gallery has a different admission prices for seniors, adults and students and they are entitled to have a same service, this form of the pricing is known as the customer pricing segment.

3 0
3 years ago
Amy is concerned with her​ organization's inability to solve problems quickly. She believes that more people should be included
Licemer1 [7]

Answer: Amy is <em>concerned </em>with her​ organization's i<em>nability to solve problems</em> quickly. Several <u>subordinates have complained</u> to her that they feel alienated from the management <u>making the decisions</u> about their jobs with<u> no input </u>from them.

The element that Amy should address is the Chain of command.

Explanation:

A chain of command is a system for sending inside information of organizations with strong, vertical and authoritative structures.

The continuous flow of the chain of command clearly establishes the authority, revealing this depending on who reports to whom.

We must take into account the Authority and the Unit of command. This last is very important because it states that each supervisor must inform only one superior and like this the company preserves the continuous line of authority so all employees are heard and their ideas are taken into consideration for making decisions.  

3 0
3 years ago
Bass new product forecasting model is used for estimating long term sales potential of a product True False
kobusy [5.1K]

Answer:

True

Explanation:

The Bass New forecasting model is a forecasting model that is commonly used to estimate the sales of a product at a certain in future and it is used for highly durable goods.

The bass new forecasting model wad developed by Frank Bass and it has a formula

<u> f ( t )   </u>    =   p + qF ( t )

1 - f ( t )

where:

f ( t )  is the change of the installed base fraction

F(t) is the installed base fraction

p is the coefficient of innovation

q is the coefficient of imitation

Cheers.

7 0
3 years ago
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