Answer:
Dr Unearned rent revenue 16,800
Cr Rent revenue 16,800
Explanation:
Period 6 months
Period expired at year end which is from September to December = 4 months
December 31
Dr Unearned rent revenue 16,800
(4/6×25,200)
Cr Rent revenue 16,800
Unearned Rent Revenue was debited in order to reduced Liability while Rent Revenue was credited in order to increase revenue.
Here, in the given case, Mort was offered a <u>line of credit </u>financial facility. Therefore, Option D is the correct choice.
<h3>What is a line of credit?</h3>
A line of credit is a versatile mortgage from a monetary group that includes a described amount of cash that you could access as needed and pay off both right now or over time. Interest is charged on a line of credit as quickly as money is borrowed.
The missing information in the question is given below:
A. revolving credit agreement.
B. asset guarantee pledge.
C. pledging agreement.
D. line of credit.
Therefore, Here, in the given case, Mort was offered a<u> line of credit </u>financial facility. Therefore, Option D is the correct choice.
Learn more about line of credit:
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I believe the answer would be C because first we gather materials like cotton strings ect, then we produce it and make something out of cotton and strings ect, and then we distribute it to retail to get sold and earn money. Hope this helps!
Answer:
See below
Explanation:
Given the above details, post closing ending balance of retained earnings would be calculated by
= Debit balance in the retained earning + credit in the retained earnings - Credit balance in the retained earnings
= $308,800 + $99,000 - $347,400
= $60,400
Answer:
$20,000
Explanation:
Calculation for the liability that should be reported for vacation pay
Using this formula
Liability=Vacation weeks*Compensation averaged per week for Year 1
Let plug in the formula
Liability=20 weeks × $1,000 per week
Liability = $20,000
Therefore the amount of liability that should be reported for vacation pay will be $20,000
