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Temka [501]
2 years ago
14

Fragment Company leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of

$825. Fragment collected the entire $6,600 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made on December 31 would be: Multiple Choice A debit to Unearned Revenue and a credit to Rent Revenue for $2,475. A debit to Rent Revenue and a credit to Cash for $2,475. A debit to Rent Revenue and a credit to Unearned Revenue for $2,475. A debit to Cash and a credit to Rent Revenue for $6,600. A debit to Unearned Revenue and a credit to Rent Revenue for $4,125.
Business
1 answer:
BARSIC [14]2 years ago
5 0

The adjusting entry made on December 31 by Fragment company would be:  A debit to Unearned Revenue and a credit to Rent Revenue for $2,475.

<h3>What is revenue?</h3>

Revenue is income earned by an individual or a business from the sale of any products or services offered. It is the value of all sales of goods and services recognized by a company in a period.

Amount unearned = Amount of total rent (3months / 8 months)

Amount unearned = 6,600 [3/8]

Amount unearned = $2,475

Journal entry:

Unearned rent A/c Dr $2,475

Rent A/c Cr                  $2,475

[Debit to Unearned Rent

Credit to Rent Earned for $2,475]

Learn more about revenue adjusting entries here : brainly.com/question/13448930

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1. Some scholars have argued that the parole system should be abolished. Do you agree or
ExtremeBDS [4]

Answer:

Yes, I agree.

Explanation:

I agree that the parole system should be abolished because there is a risk that the parolee may become a repeat offender. It too involves the risk that he won't, In case, be able to survive on his individual upon freedom, and will fall victim to permanent  homelessness, unemployment, social maladjustment. It may also involve the continuation of involvement by the criminal justice system.

4 0
3 years ago
A company has break-even sales of $200,000. If the company expects sales of $500,000, the margin of safety i is________.
zhuklara [117]

Answer:

Margin of safety = $300000

Explanation:

The margin of safety is the amount or units in excess of the break even level of sales or units. It is the region beyond the break even point and represents the profit for the business. Any units in excess of the break even point represents the margin of safety.

The margin of safety for the given question with expected sales of $500000 and break even sales of $200000 can be calculated as follows,

Margin of safety = 500000 - 200000  =  $300000

7 0
3 years ago
Susan buys a new cell phone priced at $145 and agrees to pay for it over 12 months with 10% simple interest. What is her monthly
algol [13]

Answer:

Monthly payment 13.

Explanation:

No Mont Capital Interest

   

1         13 12 1

2         13 12 1

3         13 12 1

4          13    12 1

5          13 12 1

6          13 12 1

7         13 12 1

8          13 12 1

9         13 12 0

10         13 12 0

11          13 13 0

12         13 13 0

     153   145 8

6 0
3 years ago
Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures
UNO [17]

Answer: D. $600 included in Ned's medical expenses

Explanation:

The amount that Ned can include in his itemized deductions will be the $600 that's included in Ned's medical expenses.

It should be noted that the medical expenses will be under the itemized deductions. On the other hand, the other options will be under the miscellaneous itemized deductions. Therefore, the correct option is D.

5 0
3 years ago
A company reviewed their safety program and made improvements to seven different processes that had high injury records. after t
algol [13]

Injury and illness prevention program is a proactive process to help employers find and fix workplace hazards before workers are hurt.

What is lost time at work?

Lost time is the amount of time an injured worker is unable to work as a result of a compensable injury.

Why is lost time important?

Indicators of how successfully your organization's safety requirements are being upheld include lost time injuries (LTIs). Your first priority should be worker safety, but an above-average incidence of LTIs might point to other possible issues like financial losses, regulatory noncompliance, and legal or civil liability.

What qualifies as a lost time accident?

When a worker suffers a lost time injury (LTI) that necessitates time away from work or the loss of productive work, a lost time incident occurs (absenteeism or delays). While lost time accidents can lower team morale, they can also be expensive in terms of compliance, downtime, and workers' compensation.

Learn more about lost time: brainly.com/question/14862454

#SPJ4

5 0
2 years ago
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