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Anna71
12 days ago
9

Sanborn company rents space to a tenant for $3,100 per month. the tenant currently owes rent for november and december. the tena

nt has agreed to pay the november, december, and january rents in full on january 15 and has agreed not to fall behind again. the adjusting entry needed on december 31 is:
Business
1 answer:
soldi70 [3.1K]12 days ago
8 0

To adjust for Rent Receivable:

Sanborn Company has a tenant paying $3,100 monthly for renting space. The tenant has outstanding rent for November and December, which results in a total Rent Receivable on December 31 of (3100*2) = $6,200

Consequently, the adjusting entry on December 31 should be recorded as follows:


Rent Receivable Debit $6,200

Rent Revenue Credit $6,200

(Reflecting adjustment for rent receivable)


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Austin borrowed $700 from a lender that charged simple interest at a rate of 9% for 6
harina [3228]

Response:

Initial investment of $700

Interest rate     9%

Duration       6 years

Annual interest: (700x0.09)    =63

Total interest after the loan term: (63x6) = 378

8 0
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When talking about buyer-readiness stage in online lecture, we talked about an advertisement that encourages women to buy rings
marusya05 [3096]

Response:

The correct choice is letter "E": Conviction.

Rationale:

The stages of buyer readiness illustrate the process that marketing identifies consumers undergo while making a purchase influenced by advertisements. These stages include: Awareness, Knowledge, Liking, Preference, Conviction, Purchase. In the stage of conviction, marketing is aimed at persuading customers of the product's appropriateness for them. The advertisement seeks to instill confidence in consumers regarding their purchasing decision. Consequently, motivating women to purchase rings for themselves fits within this stage.

4 0
1 month ago
Consider the table. Mother Nature Tlaloc Bob Value of sales ($) 2750 7750 20000 Dirt ($) 0 2750 0 Bricks ($) 0 0 7750 Wages ($)
Free_Kalibri [3164]

Answer and Explanation:

Here is the breakdown:

1. For the contribution to Mother Nature

This corresponds to sales amounting to $2,750

2. Regarding Tlaloc's value-added

It equates to

= $7,750 - $2,750

= $5,000

3. For Bob’s value added

It corresponds to

= $20,000 - $7,750

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This process applies equally to all three.

3 0
1 month ago
A growing number of utility companies are using drones for site inspections. What is the effect of these changes on the equilibr
stepan [3001]

Respuesta:

A continuación, se presenta la solución a esta pregunta:

Descripción:

El aumento en el uso de drones por parte de los proveedores impulsará su mercado. Un exceso de oferta moverá la curva de moda hacia la derecha si la demanda permanece constante. Esto permitirá que los drones aumenten su valor de equilibrio y también mejoren su rendimiento.

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ncome Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engine
Scilla [3267]

Answer:

Income statement prepared under the absorption costing method

Sales 2,600,000

Less: Cost of Goods Sold

Beginning Inventory 0

Add: Cost of Goods Produced

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Labor Costs 522,000

Variable Overhead 87,000

Fixed Overhead 130,500

Less: Ending Inventory (1,957,500/4,350)×350 (157,500)  1,800,000

Gross Profit 800,000

Less: Operating Costs:

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Variable Sales/Administrative Costs (60,000)

Fixed Sales/Administrative Costs (25,000)

Net Profit 715,000

Explanation:

Product/Manufacturing Cost under Absorption Costing = Direct Materials + Direct Labor + Variable Overheads + Fixed Overheads

Period Cost under Absorption Costing  = All Non-Manufacturing Expenses

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