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Marizza181 [45]
3 years ago
10

At December 31 of the current year, Sunland Corporation had a number of items that were not reflected in its accounting records.

Maintenance and repair costs of $900 were incurred but not paid. Utilities costing $370 were used but not paid, and use of a warehouse space worth $2,070 was provided to a tenant who had not been billed as of the end of the month. Record the required adjusting entries related to these events.
Business
1 answer:
yan [13]3 years ago
7 0

Answer:

Dr Maintenance and repair expense  $900

Cr Accrued expense   $900

Being entries to record maintenance and repair costs incurred

Utilities costing $370 were used but not paid

Dr Utilities expense  $900

Cr Accrued expense   $900

Being entries to record utilities used but unpaid for

use of a warehouse space worth $2,070 was provided to a tenant who had not been billed as of the end of the month

Dr Unbilled receivables    $2,070

Cr Rental Income       $2,070

Being entries to recognize income from warehouse space unbilled

Explanation:

When an expense is incurred but unpaid for, an accrual is recognized to capture the cost. For income earned but unbilled, unbilled receivable is recognized. This is based on the accrual concept.

Considering the transactions given

Maintenance and repair costs of $900 were incurred but not paid

Dr Maintenance and repair expense  $900

Cr Accrued expense   $900

Being entries to record maintenance and repair costs incurred

Utilities costing $370 were used but not paid

Dr Utilities expense  $900

Cr Accrued expense   $900

Being entries to record utilities used but unpaid for

use of a warehouse space worth $2,070 was provided to a tenant who had not been billed as of the end of the month

Dr Unbilled receivables    $2,070

Cr Rental Income       $2,070

Being entries to recognize income from warehouse space unbilled

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kondor19780726 [428]

Answer:

Falsifiability

Explanation:

Based on the information provided within the question it can be said that the principle that is involved here is Falsifiability. This term refers to the assertion that for a hypothesis to have credibility, it has to be inherently disprovable before being accepted as a scientific hypothesis or theory. Otherwise it will not be.

8 0
3 years ago
Explain ways of making contributions to discussions
Ksivusya [100]

Answer:

For making contributions to discussions, the following points are worth remembering:

  1. Until you arrive at the 'big idea', you should never wait. Your simple words will always be helpful in building discussions.
  2. Show responsiveness towards your group. Never be domineering or let others speak on your behalf.
  3. Be optimistic and show respect to other people's ideas.

Explanation:

The following strategies are helpful in building contributions to discussions. They make commencements with low stress approaches and build towards outright involvement.

Verbal/Non-Verbal Acknowledgements

Show that you're a decent audience by giving close consideration to what is being said. Recognize others' commitments by saying "yes" or gesturing your head. Speakers find such signals consoling as they show their thoughts are being tuned in to and esteemed. These listening techniques will likewise keep you dynamic and included, giving a decent beginning stage for increasingly significant commitments.

Agreements

Concurring with a point somebody has made can take your commitments to the following stage. Continuously use articulations that offer non-compromising talking techniques. You would then be able to manufacture this to increasingly complex degrees of understanding, expressing where and why you concur.

Observation

Take a stab at remarking on the conversation, indicating other gathering individuals that you're mindful of what's happening and are assuming a functioning job in tuning in and molding the contention. This can be especially helpful when attempting to maintain a strategic distance from interruptions and keeping the conversation on course.

Presenting alternative views

Offering elective perspectives shows a significant level of contribution and can be an exceptionally compelling method for assisting with building up your own thoughts and the thoughts of others. Try not to be hesitant to differ with somebody, just ensure that you do as such in a helpful manner. First express your contradiction by demonstrating you comprehend the point that was being made and afterward clarify why you oppose this idea. In the event that you are uncertain concerning why you dissent, have a go at doing as such with an inquiry

Involvement

This level shows exceptionally solid degrees of commitment. Notwithstanding the entirety of the above procedures, the included understudy will likewise attempt to make new focuses, driving the conversation into new ground. The included understudy will likewise attempt to carry others into the conversation, welcoming remark or drawing upon somebody with pertinent experience.

 

Using Openers

It tends to be hard to start making a commitment to the conversation, especially when other gathering individuals are now contributing completely. Utilizing a straightforward opening proclamation will kick you off and cause people to notice the way that you need to talk. On the off chance that the conversation is going truly well, you may need to rehash your initial articulation, in any event, causing to notice the way that a specific point is being disregarded

Coping with Conflict

In certain occasions, conversations can turn out to be exuberant to such an extent that they lead to solid contradiction between bunch individuals. Remember that conversation in a scholastic domain ought to stay objective and indifferent: thoughts ought to be tested, never individuals. On the off chance that you feel your own indignation levels rising, take a full breath and quit talking for some time. In the event that you see others blowing up attempt to assume a functioning job in the gathering, interceding with a portion of the above methodologies. Regardless of whether perception or understanding, you ought to be viable in causing to notice difference before it turns crazy.

4 0
3 years ago
Which of the following is true of a mixed economy? A. Individuals and corporations own the means of production. B. The governmen
olga_2 [115]
D,all of the above.. to be amixed economy it needs to have them all.
7 0
3 years ago
The data below relate to the month of April for Monroe, Inc., which uses a standard cost system and a two-variance analysis of f
Contact [7]

Answer:

Fixed overhead absorption rate

= <u>Budgeted fixed overhead</u>

  Budgeted activity level

= $<u>12,000</u>

    16,000 hours

= $0.75 per hour

Production volume variance

= (Standard hours - Budgeted hours) x Fixed overhead rate

= (16,250 - 16,000) x $0.75

= $187.5(F)

The correct answer is A

Explanation:

First and foremost, we need to calculate fixed overhead absorption rate, which is the ratio of budgeted fixed overhead to budgeted hours. then, we will calculate the production volume variance, which is the difference between standard hours and budgeted hours multiplied by fixed overhead absorption rate.

7 0
3 years ago
A premium bond that pays $60 in interest annually matures in seven years. The bond was originally issued three years ago at par.
Art [367]

Answer:

D.The yield-to-maturity is less than the coupon rate.

Explanation:

Whenever the yield to maturity is less than the bond's coupon rate, bond market value is greater than par value ( premium bond), these applies just as the question states that the premium bond pays $60 in interest annually in seven years and the bond was issued originally 3 years ago at par

in other cases when a bond's coupon rate is less than its yield to maturity, then the bond is selling at a discount and when a bond's coupon rate is equal to its yield to maturity. the bond is selling at par.

4 0
3 years ago
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