Answer and Explanation:
The rightward shfit in the curve is based on the assumption that the pay raise will be incorporated into the price of the ticket. As the price of the ticket increases, the demand will decrease and shift the demand curve to the right.
<span>There will we a new equilibrium price will be achieved over some period of time, this will happens in the market with upward sloping supply curve when there is a shift in the demand curve due to external shock. When the market has a upward sloping supply curve and there is a shift in the demand curve due to external shock this only means that a new equilibrium price will be achieve over some period of time.</span>
Answer:
C.Utilities payable
Explanation:
The items which required adjusting entries are presented below:
a. Unearned subscription revenue
Cash A/c Dr
To Unearned subscription revenue A/c
(Being the amount is collected)
Unearned subscription revenue A/c Dr
To Subscription revenue A/c
(Being the Unearned subscription revenue A/c is recorded)
b. Office supplies
Supplies expense A/c Dr
To supplies A/c
(Being supplies account is adjusted)
The supplies expense is computed by
= Supplies balance + purchase of the supplies - supplies on hand
c. Prepaid rent
Rent expense A/c Dr
To Prepaid rent A/c
(Being the prepaid rent is adjusted)
Since the utilities payable is an accrual expense so no likely required adjusting entry is required at the year end
A. Late start date because the other ones done work
The adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.
<h3 /><h3>Unearned rent</h3>
Based on the information given the appropriate adjusting entry required for unearned rent on December 31, 20Y1 is:
31 December
Debit Unearned rental revenue $16,296
Credit Rental revenue $16,296
($39,110×5/12)
(To record unearned rent)
Inconclusion the adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.
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