7) On February 1, 2015, Apollo Company received $24,000 in advance for a three-year rental of land, and credited Rent Revenue for the entire amount. The correct December 31, 2015 adjusting entry would be

Unearned Rent		7,333
	Rent Revenue			7,333

Rent Revenue		16,667
	Unearned Rent			16,667

Unearned Rent		16,667
	Rent Revenue			16,667

Rent Revenue		7,333
	Unearned Rent			7,333

8) Which balance sheet account is usually reported at net realizable value?

Investments

Inventory.

Land.

Accounts Receivable.

9) Selected information from a company's balance sheet follows:

Long-term debt	$ 140
Retained earnings	130
Current assets	275
Property, plant, and equipment	160
Common stock	530
Current liabilities	75

Working capital is

$250

$230

$220

$200