Business, 25.09.2020 03:01 itsyourboyrocky
On september 1 of the current year, zimmerman collected six months' rent of $8,220 on storage space. At that date, zimmerman debited cash and credited unearned rent revenue for $8,220. On october 1 of the current year, the company borrowed $15,600 from a local bank and signed a one-year, 14 percent note for that amount. The principal and interest are payable on the maturity date. Depreciation of $1,700 must be recognized on a service truck purchased in july of the current year at a cost of $15,000. Cash of $5,700 was collected on november of the current year, for services to be rendered evenly over the next year beginning on november 1 of the current year. Unearned service revenue was credited when the cash was received.
Answers: 2
Business, 22.06.2019 10:20
Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.
Answers: 1
Business, 22.06.2019 20:30
The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.
Answers: 3
Business, 23.06.2019 10:00
Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property
Answers: 3
Business, 23.06.2019 10:30
This pie chart shows a sample weekly budget. in this budget, how much money is going toward optional expenses? $70 $75 $10 $35
Answers: 1
On september 1 of the current year, zimmerman collected six months' rent of $8,220 on storage space....
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