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CaHeK987 [17]
3 years ago
13

On August 1, 20Y1, Newhouse Co. received $39,110 for the rent of land for 12 months. Journalize the adjusting entry required for

unearned rent on December 31, 20Y1. Round your final answer to the nearest dollar amount. If an amount box does not require an entry, leave it blank.
Business
1 answer:
Marta_Voda [28]3 years ago
3 0

The adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

<h3 /><h3>Unearned rent</h3>

Based on the information given the appropriate adjusting entry required for unearned rent on December 31, 20Y1 is:

31 December

Debit Unearned rental revenue $16,296

Credit Rental revenue $16,296

($39,110×5/12)

(To record unearned rent)

Inconclusion the adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

Learn more about unearned rent here:brainly.com/question/4260123

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A firm uses machine hours to allocate overhead cost. During the period, budgeted variable overhead is Rs. 10000 and budgeted
iVinArrow [24]

Answer:

C

Explanation:

If you do hours X units and then put it on the end of the Variable you get C. Hope this helped #brainiest

4 0
3 years ago
A businessman in New York is preparing an itinerary for a visit to seven major cities. The distance traveled, and hence the cost
enot [183]

Answer:

The answer is 5,040.

There are 5,040 different possible itineraries.

Explanation:

The number of different possible itineraries equals the number of the selection of 7 cities from a total of 7 cities where order is important.

We solve thus:

N = P^{7}_{7} = \frac{7!}{(7 - 7)!}

   = \frac{7!}{0!}

   = 7!

   = 7 X 6 X 5 X 4 X 3 X 2 X 1

   = 5,040

6 0
4 years ago
Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $1
masya89 [10]

Answer:

Amount deposit = $118,411.4 (Approx.)

Explanation:

Given:

Future amount = $150,000

Rate of interest = 6% compounds semiannual

Number of year = 4 year

Find:

Amount deposit

Computation:

Compounds semiannual

So,

Rate of interest = 6% / 2 = 0.03

Time taken = 4 x 2 = 8 times

So,

A = P[1+r]ⁿ

150,000 = p[1+0.03]⁸

150,000 = p[1.03]⁸

150,000 = p[1.26677]

p = 150,000 / 1.26677

p = 118,411.393

Amount deposit = $118,411.4 (Approx.)

4 0
3 years ago
Write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within 12 months
salantis [7]

Answer:

monthly payment = (total amount owing+interest to be paid) / 12 months

Explanation:

Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.  

The formula to calculate the monthly repayments in the credit card is as follows:

(total amount owing + interest) / 12 months

For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.

6 0
3 years ago
Phil, age 20, is single and can be claimed as a dependent on his parent's return. He had $150 in interest income and wages of $7
Korvikt [17]

Answer: B - $7,150

Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.

Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.

According to the above question, Phil earns $7,000 as wages plus $150 in interest income.

From the above information, Phil has a standard tax of $7,150.

3 0
3 years ago
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