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?
Find 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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Compared to the other states, where did Texas fall in the SPI policy liberalism ranking in 2012?
Answers (1)
John and Shirley have one child eligible for the Child Tax Credit, file their tax return as married filing jointly and, at a $410,000 modified adjusted gross income for 2019, they have an AGI that exceeds the threshold at which the Credit begins to
Answers (1)
Which of the following is a primary market transaction? a. You sell 200 shares of IBM stock on the NYSE through your broker. b. You buy 200 shares of IBM stock from your brother.
Answers (1)
It costs Homer's Manufacturing $0.45 to produce baseballs and Homer sells them for $6.00 a piece. Homer pays a sales commission of 5% of sales revenue to his sales staff.
Answers (1)
If creditors add finance charges after subtracting payments made during the billing period, this is called the: A. APR method. B. average daily balance method. C. previous balance method. D. adjusted balance method.
Answers (2)
New Questions in Business
LLCs were created to protect business owners from liabilities while holding their partners responsible. protecting them from business losses. allowing earnings and losses on their personal tax returns. offering them a limited number of shareholders.
Answers (1)
Janice bought her house in 2008 for $395,000. since then, she has deducted $70,000 in depreciation associated with her home office and has spent $45,000 replacing all the old pipes and plumbing. she sells the house on july 1, 2017.
Answers (1)
The United States trade deficit first became a problem in the 1970s because? a. The prices of imports from Japan increased dramatically. b. The prices of imports from China increased dramatically. c. The price of foreign oil was raised by APEC. d.
Answers (1)
This document is published by the Office of Inspector General (OIG) every year. It details the OIG's focus for Medicare fraud and abuse for that year.
Answers (1)
Equity theory is the principle that when jobs are distinctly different but entail similar levels of ability, responsibility, skills, and working conditions, they are of equal value and should have the same pay scale. True False
Answers (1)