Rem real estate received a check for $27,000 on july 1 which represents a 6 month
advance payment of rent on a building it rents to a client. unearned rent revenue was
credited for the full $27,000. financial statements will be prepared on july 31. rem real
estate should make the following adjusting entry on july 31:

a. debit unearned rent revenue, $4,500; credit rent revenue, $4,500.
b. debit rent revenue, $4,500; credit unearned rent revenue, $4,500.
c. debit unearned rent revenue, $27,000; credit rent revenue, $24,000.
d. debit cash, $27,000; credit rent revenue, $27,000.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Neon light company of kansas city ships lamps and lighting appliances throughout the country. ms. neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. the bank has a remote disbursement center in florida. a. if neon light company has $2.90 million per day in collections and $1.18 million per day in disbursements, how many dollars will the cash management system free up?

Abond purchased for $950 was sold for $980 after one year. the interest received during the year is $25. the bond's yield is: