On October 1, River Place Apartments received $5,200 from a tenant for four months rent. The receipt

Question:

On October 1, River Place Apartments received $5,200 from a tenant for four months’

rent. The receipt was credited to Unearned Rent Revenue. What adjusting entry is needed on December 31?

a. Unearned Rent Revenue 1,300 Rent Revenue 1,300

b. Cash 1,300 Rent Revenue 1,300

c. Rent Revenue 1,300 Unearned Rent Revenue 1,300

d. Unearned Rent Revenue 3,900 Rent Revenue 3,900

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

See More Books

Question Posted: Jul 26, 2024 03:00 AM

See More Questions

112 S cos-(2x) dx
1. Might there be any repercussions against small businesses because of recent decisions in their favor in cases involving cyber theft? 2. Why is it so difficult for banks to recover funds stolen...
What is Operating Ratio? Explain.
10. Which of the following is a characteristic of the Dow Jones Industrial Average? (LO 13-2) a. It contains 30 well-known stocks that represent the whole stock market. b. It has had the same stocks...
1. Using Worksheet 12, determine the amount of additional life insurance, if any, that the Kampes should purchase to protect Wendy if Frank should die. 2. Should Wendy purchase an insurance policy?...
Pedro sells port wine for $36 per bottle. His fixed costs are $678. Variable costs are $11 per bottle. With the increased variable costs of $2 per bottle, what is the new breakeven revenue?...
Suppose ShineBrite Car Wash holds a note receivable as an investment. At the end of June, $100 of interest revenue has been earned but not yet received. Journalize the accrued revenue adjustment at...
The following normal balances appear on the adjusted trial balance of Greenville National Company: REVIEW ACCRUAL ACCOUNTING The carrying amount of the equipment is a. $82,500. b. $66,000. c....
Discuss the similarities and differences between the indicators of finance leases under IFRS and the criteria for capitalizing leases under U.S. GAAP.
TranscribedText: 4. DQ 5. Create your initial post on the DQ 5 Discussion Board in response to the following: e There are many different opinions about how media, specifically TV and the Internet,...
Star Trek LLC has 8,000 bonds, two million shares of preferred stock outstanding and seven million shares of common stock outstanding. If the common shares are selling for $17 per share, the...
So the component of the flow velocity that is perpendicular to the isobar in cm/s is: V =2V cos(0)=2(10/(1+2 sin(0))) cos(0) V (10)/[1+2(1) sin(90)] = V = 3.3cm/s
2. The CIBC stock price was very volatile today. a. Using the website below, what did the price of CIBC shares end the day at ? CM.TO: Canadian Imperial Bank of Commerce - Yahoo Finance b. In a brief...
Answer the following according to Florida rules: Abigail Atlas was chatting quietly in the hall outside Courtroom 14-1 with Mariel Topher, an employee of the Hopper Law Firm that was representing...
In which medium does a sound wave travel faster: in air at 20C and 1 atm or in air at 20C and 5 atm?
Repeat the previous problem, but close the positions on September 20. Use the spreadsheet to find the profits for the possible stock prices on September 20. Generate a graph and use it to identify...

On October 1, River Place Apartments received $5,200 from a tenant for four months rent. The receipt

Question:

Step by Step Answer:

Financial Accounting International Financial Reporting Standards

Students also viewed these Business questions