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Natali [406]
3 years ago
14

Bonita Real Estate received a check for $28440 on July 1 which represents a 6 month advance payment of rent on a building it ren

ts to a client. Unearned Rent Revenue was credited for the full $28440. Financial statements will be prepared on July 31. Bonita Real Estate should make the following adjusting entry on July 31:
A. Debit Cash, $28440; Credit Rent Revenue, $28440.
B. Debit Rent Revenue, $4740; Credit Unearned Rent Revenue, $4740.
C. Debit Unearned Rent Revenue, $4740; Credit Rent Revenue, $4740.
D. Debit Unearned Rent Revenue, $28440; Credit Rent Revenue, $28440.
Business
1 answer:
Alenkasestr [34]3 years ago
8 0

Answer:

C. Debit Unearned Rent Revenue, $4740; Credit Rent Revenue, $4740.

Explanation:

When money is collected in advance for service yet to be rendered, we credit unearned revenue and debit cash. As the service becomes rendered, we debit unearned revenue with the amount earned and credit revenue.

Since the money was received on 1 July and the Financial statements will be prepared on July 31, by the date of the preparation, the company has earned 1 month rent. This rent is equivalent to

= $28440/6

= $4760

Hence the adjusting entry on July 31 will be

C. Debit Unearned Rent Revenue, $4740; Credit Rent Revenue, $4740.

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A self-driving car designer and a luxury automobile company partner together to develop a luxury, fully autonomous vehicle. By j
stira [4]

The joining together of the self-driving car designer and a luxury automobile company can result in profit maximization.

<h3>What is profit maximization?</h3>

It should be noted that profit maximization simply means the process that's important to bring about the highest level of profit in a company.

In this case, the joining together of the self-driving car designer and a luxury automobile company can result in profit maximization and improvement in sales.

Learn more about profit maximization on:

brainly.com/question/4171648

6 0
2 years ago
Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flou
Vilka [71]

Answer:

37 F

Explanation:

Direct materials Quantity variance 597 F

Less: Direct materials Price variance 560 U

Direct materials Flexible Budget variance 37 F

7 0
3 years ago
With the advent of flexible manufacturing technologies and mass customization, establishing manufacturing facilities in each maj
juin [17]

Answer:

A. True

Explanation:

As with the increasing modernization the technologies are increasing, which makes it easy to produce what a human desires.

As it is increasing day by day, and the technologies are easily accessible, by many people , there aren't much human interference involved in this. Not much of the efforts of humans are involved. Accordingly, the humans do not carry the old culture and art in such production or manufacturing the products.

Also the marketing in these days is comparatively quite easy, as with the access of internet  by huge population.

These things make the efforts of people and manufacturers less attractive and visible.

3 0
3 years ago
Ace, Inc.'s stockholders' equity applicable to common shares is $60,000. The number of common shares outstanding is 1,000 and th
iVinArrow [24]

Answer:

the book value per common share is $60.

Explanation:

Book Value Per Share = Equity Applicable / Number of Shares Outstanding

                                     =  $60,000/ 1,000

                                     = $60

Thus the book value per common share is $60.

8 0
3 years ago
Your Competitive Intelligence team is predicting that the Chester Company will invest in adding capacity to their Cute product t
Rasek [7]

Answer:

HELLO SOME PARTS OF THE QUESTION IS MISSING ATTACHED BELOW IS THE MISSING PARTS

answer : 13156

Explanation:

Considering only products primarily in the core segment last year.

they are : Ant, cone, cute,Drat and Daze

From the question it is assumed that Chester's product Cute and other products in its Core segment will be increased  by 10% this year hence we will calculate the 10% increase of each core product and add it to its initial value

For ANT (1550)

will become = 1550 + ( 10% * 1550 ) = 1705

For CONE ( 1050 )

will become = 1050 + ( 10% * 1050 ) = 1155

For Cute ( 1300 )

will become =  1300 + (10% * 1300 ) = 1430

For Drat ( 1040 )

will become = 1040 + ( 10% * 1040 ) = 1144

For DAZE ( 1040 )

will become = 1040 + ( 10% * 1040 ) = 1144

The total capacity of the current year = 1705 + 1155 + 1430 + 1144 + 1144 = 6578

Hence the Total capacity the Industry will produce in the core next year still applying the 10% increment will be = 2 * 6578 = 13156

7 0
3 years ago
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