Answer:
From all indications,the two rents received have been posted wrongly, I want to believe that you are required to post the adjusting entries,hence my answer below:
The first $9000 was posted to deferred revenue,whereas only two months should have been
First rent:
DR Deferred revenue $3000
CR Revenue $3000
Second Rent
DR Revenue $6000
CR Deferred revenue $6000
Explanation:
The first $9000 was posted to deferred revenue,whereas only two months should have been deferred and December rent recognized as rent.
As far as the second rent is concerned only one month has been earned,as a result the revenue should be credited with just $3000 for December.
This then mean that revenue from the second property has been overstated in December by $6000,this necessitated by adjustment above.
Marliss will want to invest her money in a savings bond to help her save money for college. The correct answer is A.
Answer:
b. $90,000 with a $10,000 loss carryover
Explanation:
Given that
Active business income = $90,000
From Activity A, the income earns = $20,000
From Activity B, the loss incurs = $30,000
So by considering the above information, the Adjusted gross income should be
The $90,000 should be recorded
Plus, the $10,000 loss should also be carryover
The $10,000 loss is come from
= $20,000 - $30,000
= -$10,000
Answer:
c. it makes prices rise
Explanation:
Inflation describes a situation where there is a general increase in prices in the country. Inflation is directly linked to economic growth. A high growth rate results in high inflation.
Inflation causes prices to rise, reducing the purchasing power of money. A reduction in purchasing power means a unit of money will buy fewer items than it did previously. The government puts in measures to counter inflation to stabilize prices and prevent erosion of purchasing power.
Low inflation indicates slow economic growth, low employment, and a reduction in prices.
Answer:
networkers
Explanation:
Corporate managers who supervise, coach, and guide lower-level employees and serve as their organizational sponsors are called: networkers.
