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LenaWriter [7]
3 years ago
9

Ivanhoe Company sublet a portion of its warehouse for five years at an annual rental of $71100, beginning on May 1, 2020. The te

nant, Barbara Jones, paid one year's rent in advance, which Ivanhoe recorded as a credit to Unearned Rent Revenue. Ivanhoe reports on a calendar-year basis. The adjustment on December 31, 2020 for Ivanhoe should be:________.
Business
1 answer:
Olenka [21]3 years ago
8 0

Answer and Explanation:

The adjustment should be as follows

Unearned Rent Revenue    $47,400

    To Rent Revenue   $47,400

(Being recording of revenue earned is recorded)

Here unearned rent revenue is debited as it decreased the liabilities and the rent revenue is credited as it increased the revenue. Also liabilities and revenue contains the normal debit balance

The working is shown below:

= $71,100 × 8 months ÷ 12 months

= $47,400

The eight months are calculated from May 1 to December 31

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Which of the statements below is​ FALSE?
Alecsey [184]

Answer:

C. The standard of one vote for each share cannot be altered.

Explanation:

Shares are sold to individuals that now obtain ownership rights of a company.

Common share holders are entitled to voting in of new board members and also have the ability to vote for changes in bylaws of the company.

Also common shareholders are shares have different classes with different voting rights.

However it is not true that the standard of one vote for each share cannot be altered.

When more shares are issued by a company it can result in dilution of shares. That means for example if a person has 10,000 shares in a company with 1 million shares, and the company now issues an extra 1 million shares making 2 million in total now.

The shareholder's standard of vote for each share is now halved

5 0
3 years ago
In a macroeconomic context, choose the best definition for the term velocity. The rate at which the aggregate price level increa
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Answer:

The rate at which money circulates through an economy.

Explanation:

In Macroeconomics, the term velocity refers to the speed at which money circulates in an economy, and it is a variable in a fundamental macroeconomic equation, the quantity theory of money equation:

M x V = P x T

Which states that the price of goods and services is equal to the amount of money in an economy, or its money supply (M) multiplied by the Velocity of circulation of money, which is in turn equal to price (P) multiplied by the number of transactions (T).

7 0
3 years ago
Which is an example of an external factor that may affect purchase decisions?
prohojiy [21]
Government policies specific to the entrepreneurs business is the answer. This is the only external factor.
6 0
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Question 3
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OD All are signs of a serious gambling problem.

5 0
3 years ago
Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and t
rosijanka [135]

Answer:

117,000 adjusted COGS

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$$Beginning Inventory + Manufactured = Ending Inventory + COGS

35,000 + 136,000 = 48,000 + COGS

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This means the applied is higher than actual expenses, the cost is 6,000 lower we must decrease the COGS

123,000 - 6,000 = 117,000 adjusted COGS

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3 years ago
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