Bonita Realty Management Co. received a check for $30,000 on October 1, which represents a one yearadvance payment of rent on an office it rents to a client. Unearned Rental Revenue was credited for the full $30,000. Financial statements are prepared on December 31. The appropriate adjusting journal entryto make on December 31 would be
A. Rent Revenue $2,500Unearned Rent Revenue $2,500
B. Rent Revenue $22,500Unearned Rent Revenue $22,500
C. Unearned Rent Revenue $22,500Rent Revenue $22,500
D. Unearned Rent Revenue $7,500Rent Revenue $7,500
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Bonita Realty Management Co. received a check for $30,000 on October 1, which represents a one yearadvance payment of rent on an office it ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
As part of a major plant renovation project, the industrial engineering department has been asked to balance a revised assembly operation to achieve an output of 240 units per eight-hour day. task times and precedence relationships are as follows:
Answers (1)
Suppose that the turkey industry is in long-run equilibrium at a price of $5 per pound of turkey and a quantity of 400 million pounds per year. suppose the surgeon general issues a report saying that eating turkey is bad for your health.
Answers (1)
Can poorer countries do well on these alternative measures of well-being? could people be misled about differences in living standards if they only compared different countries levels of gdp per person? explain.
Answers (1)
Judd Company uses standard costs for its manufacturing division. Standards specify 0.1 direct labor hours per unit of product. The allocation base for variable overhead costs is direct labor hours.
Answers (1)
Blossom Company issued $504,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1 and January 1. Blossom Company uses the effective-interest method of amortization for bond premium or discount.
Answers (1)
New Questions in Business
A currency trader observes the following quotes in the spot market: 1 U. S. dollar = 122 Japanese yen 1 British pound = 2.25 Swiss francs 1 British pound = 1.63 U. S.
Answers (1)
Mary, Susan, and Sarah are running a beach boutique on the board walk of Ocean City. Their favorite product is a red lifeguard hoody. Mary believes it will sell 341 times next season.
Answers (1)
Stone Foods produces the majority of its cheese products in its U. S. based dairy division at a total outlay cost of $6.00 per unit.
Answers (1)
The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a rate of 6% forever.
Answers (1)
ABC Company issued a bond with face value for $1000, paid annual 10% coupon and 3 years to maturity, what is the value of ABC bonds today if the required rate of return is 12%.
Answers (1)