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Artist 52 [7]
3 years ago
15

On September 1, a client paid the company $25,200 cash for six months of rent in advance (the client leased a building and took

occupancy immediately). The company recorded the cash as Unearned Rent Revenue.
Business
1 answer:
Tju [1.3M]3 years ago
4 0

Answer:

Dr Unearned rent revenue 16,800

Cr Rent revenue 16,800

Explanation:

Period 6 months

Period expired at year end which is from September to December = 4 months

December 31

Dr Unearned rent revenue 16,800

(4/6×25,200)

Cr Rent revenue 16,800

Unearned Rent Revenue was debited in order to reduced Liability while Rent Revenue was credited in order to increase revenue.

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One of the accounting records maintained by Visors Inc. lists the number of regular work hours worked by its employees, the over
Iteru [2.4K]

Answer:

B. Payroll record

Explanation:

Payroll record is a record in an organization showing the list of employees in that organization along with payments due to every employee in the organization for a specific pay period. It shows the number of hours worked, average pay rates, and deductions for each employee present in the organization. From the description detailed in the question, the record described is most likely a payroll record. In summary, it's a documentation showing under what criteria are the employees of an organization paid.

5 0
3 years ago
Dina loves branded apparel and accessories but cannot afford to buy them too often. Fortunately, Dina lives close to an off-pric
inn [45]

Answer: Off- Price Retail Store

Explanation: An off price retail store also known as treasure hunt is a store that sells at very low prices. They stock wide range of original goods from well known manufacturers and sell at reduced price.

It focuses more on fashion goods from well known designers. The items bought here are well known for quality.

5 0
3 years ago
You recently bought a used car and it breaks down. You take it to the repair shop, which will charge $400. You don’t have that m
notka56 [123]

Answer:

My Guest is P2P or Debit Card

Explanation:

3 0
2 years ago
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the nec
liberstina [14]

Answer:

(A)

The total relevant cost would be: 495,000

Buy 15,000 x 35 = 525,000

It would be better to keep producing.

(B) relevant cost 495,000

Buy 525,000 - 150,000 = 375,000

In this scenario is better to buy the procuct, as this alternative will come with the 525,000 cost but 150,000 contribution margin in the new product

Explanation:

The relevant cost would be:

Direct Materials                         14

Direct labor                                10

Variable Overhead                     3

traceable fixed overhead          6

Total                                         33

15,000 x 33 = 495,000

<u>The depreciation is a sunk cost,</u> already incurred when the machine was purchased. Is not relevant to decide wether to produce or buy

The potencial new product would be opportunity cost:

It should be considered as a decrease in the cost of buy the product

7 0
3 years ago
During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The fol
Anika [276]

Direct labour rate variance = (3875) unfavourable, Direct labour efficiency rate = (800) unfavourable

<u>Explanation:</u>

<u>Computation of Direct Material Price & Quantity Variance </u>

Direct Material Purchase - Price variance  = (SP minus AP) multiply AQ Purchase  ($1.45 minus $1.48) multiply19000  = ($570) Unfavourable

Direc Material Quantity Variance =(SQ-AQ)SP  =

((20 multiply600)-10500) multiply$1.45 =  $2,175 Favourable

Direct Material Price variance - (SP minus AP)AQ Used  = ($1.45minus $1.48) multiply10500 = ($315) Unfavourable

<u>Computation of Direct Labour Rate & Efficiency Variance </u>

Direct Labour Rate variance  = (SR minus AR)multiply AH  

= ($8 minus $9.25) multiply3100  = -3875 Un Favourable

Direct Labour Efficiency Variance  (SH minus AH)multiply SR  

= ((5 multiply 600) minus 3100)multiply8)  = -800 Un Favourable

8 0
3 years ago
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