Business, 07.03.2020 01:33 tiniecisneros28
On November 1, 2016, Gordon Co. collected $10,380 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30, 2017, at which time the contract may be renewed.
a-1. Use the horizontal model to record the effect of the six months of rent collected in advance on November 1, 2016 for Gordon Co. (Use amounts with + for increases and amounts with – for decreases.)
a-2. Use the horizontal model to record the effect of the adjustment that will be made at the end of each month to show the amount of rent "earned" during the month for Gordon Co. (Use amounts with + for increases and amounts with – for decreases.)
Record the receipt a six-month advance rent payment.
Note: Enter debits before credits.
a-3. Record the journal entry to show the effect of the six months of rent collected in advance on November 1, 2016 for Gordon Co. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Event General Journal Debit Credit
1
Journal entry worksheet
Record a reduction in the liability account for rent earned each month.
Note: Enter debits before credits.
a-4. Record the journal entry to show the effect of the adjustment that will be made at the end of each month to show the amount of rent "earned" during the month for Gordon Co. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
b. Calculate the amount of unearned rent that should be shown on the December 31, 2016, balance sheet with respect to this lease.
c. Suppose the advance collection received on November 1, 2016, covered an 30-month lease period at the same amount of rent per month. How should Gordon Co. report the unearned rent amount on its December 31, 2016, balance sheet?
Answers: 3
Business, 22.06.2019 00:40, mmsomefood85
Gdonald was unhappy that his company did not provide good transport facilities. he found it very strenuous to drive to work on his own, and this eventually led to job dissatisfaction. hence, he recommended ways to solve this problem. according to the evln model, this information suggests that donald's main reaction to job dissatisfaction was:
Answers: 3
Business, 22.06.2019 11:10, evansh78
Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?
Answers: 3
Business, 22.06.2019 19:50, Salas1333
Which of the following would create the most money? the initial deposit is $6,500 and the required reserve ratio is 20 percent. the initial deposit is $3,000 and the required reserve ratio is 10 percent. the initial deposit is $7,500 and the required reserve ratio is 25 percent. the initial deposit is $4,500 and the required reserve ratio is 15 percent.
Answers: 1
Business, 23.06.2019 00:00, amanquen35
How do the percentages of the 65 customer satisfaction ratings in that actually fall into the intervals [formula62.mml ± s], [formula62.mml ± 2s], and [formula62.mml ± 3s] compare to those given by the empirical rule? do these comparisons indicate that the statistical inferences you made in parts b and c are reasonably valid? (round your answers to the nearest whole number. omit the "%" sign in your
Answers: 2
On November 1, 2016, Gordon Co. collected $10,380 in cash from its tenant as an advance rent payment...
History, 26.08.2019 14:30
English, 26.08.2019 14:30
Biology, 26.08.2019 14:30
English, 26.08.2019 14:30
English, 26.08.2019 14:30