1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Which one of the following statements concerning venture capital financing is incorrect? Multiple Choice Venture capitalists des
ziro4ka [17]

Answer:

The incorrect statement about Venture capitalists is:

Venture capitalists usually assume active roles in the management of the financed firm.

Explanation:

Venture capitalists are high net worth individuals with managerial competence or experience seeking for new businesses to invest in. In exchange, they ask for an equity stake in the company they finance.

Venture capital financing is the type of funds that are given to invested into viable businesses in their budding stage by investors that see long term growth potential in them. it is a form of private equity.

Venture Capitalist never assume active roles in the management of the financed firm. however, if they have the technical know how, they may pitch in passively from time to time to advice.

3 0
2 years ago
Suppose the owners of Lopes and HomeMax meet for a friendly game of golf one afternoon and happen to discuss a strategy to optim
Amiraneli [1.4K]

Answer:

c. $2.0 million for Lopes and by $2.5 million for HomeMax.

Explanation:

For the problem above, the two organizations agreed to work on a particular project because they believed that they will benefit from the outcome of the project. Based on the available information provided in the question, the profit that Lopes will make yearly will increase by $2.0 million while that of HomeMax will increase by $2.5 million.

3 0
3 years ago
Correct identification of the underlying root cause is the desired outcome of the ________________ approach to problem solving.
Citrus2011 [14]

Answer:

Letter A is correct. <u>Cause-oriented.</u>

Explanation:

A cause-oriented approach to problem solving is a method characterized by focusing on the history of the problem and then thereafter finding the root cause that originated it.

It is a very effective method when used to find solutions to various organizational problems that are apparently unsolved.

8 0
3 years ago
Kyle is a strict boss. He is more concerned about the successful execution of tasks than the wellbeing of his employees. As a re
abruzzese [7]

Answer:

The answer is option (C) authority-compliance style.

Explanation:

The authority-compliance style In the context of the Blake/Mouton leadership grid describes when managers or bosses are overly concerned about the effectiveness with which their employees or subordinates get work done without regard for the well being of such employees.  

This kind of dictatorial management style is due to the fact that a manager or boss believes that the needs of his/her subordinates or employees are relatively unimportant when compared to achieving success or getting work effectively done.

7 0
2 years ago
Samson, Inc. had the following balances and transactions during​ 2019: Beginning Merchandise Inventory 10 units at $ 94 March 10
lubasha [3.4K]

Answer:

The answer is attached;

Explanation:

Download xlsx
3 0
3 years ago
Other questions:
  • During the course of your examination of the financial statements of the Hales Corporation for the year ended December 31, 2021,
    9·1 answer
  • School teachers, counselors, and job placement centers can help you _____.
    6·1 answer
  • Nutritional Foods reports merchandise inventory at the lower of the cost or market. Prior to releasing its financial statements
    7·1 answer
  • Organizations and activities that are close to the end customer in a supply chain are said to be _______, while organizations an
    9·1 answer
  • Before you could train as a physician, you first had to become _____.
    11·2 answers
  • When rainforest land, such as in the lower amazon, is suitable for agriculture, a single cash crop is often planted. such crops
    15·1 answer
  • when the number of jobs is insufficient for the number of workers ex: Charles recently lost his job as a waiter at a local resta
    11·1 answer
  • _____ is a practice where a store sends coupons to a customer, who has already bought a product from the store, for a more expen
    12·1 answer
  • g each collectible ship requires one pint of high-quality paint at a cost of $25 per pint. considering increasing the selling pr
    12·1 answer
  • A type of pricing strategy we’re in the same product being sold at a different place but have different price
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!