Please advise of correct answer (a, b, c or d) any help is appreciated: On Febru
ID: 2422212 • Letter: P
Question
Please advise of correct answer (a, b, c or d) any help is appreciated:
On February 1, 2010, Zeus Company received $36,000 in advance for a three-year rental of land, and credited Rent Revenue. The correct December 31, 2010 adjusting entry would be
Unearned Rent 25,000
Rent Revenue 25,000
b)
Rent Revenue 25,000
Unearned Rent 25,000
c)
Unearned Rent 11,000
Rent Revenue 11,000
d)
Rent Revenue 11,000
Unearned Rent 11,000
Which of the following is not an acceptable way of reporting a company's comprehensive income?
a) on the face of the income statement.
b) in a separate statement of comprehensive income
in the statement of changes in stockholders' equity
in the statement of cash flows
a)Unearned Rent 25,000
Rent Revenue 25,000
b)
Rent Revenue 25,000
Unearned Rent 25,000
c)
Unearned Rent 11,000
Rent Revenue 11,000
d)
Rent Revenue 11,000
Unearned Rent 11,000
Which of the following is not an acceptable way of reporting a company's comprehensive income?
a) on the face of the income statement.
b) in a separate statement of comprehensive income
c)in the statement of changes in stockholders' equity
d)in the statement of cash flows
Explanation / Answer
1- B
Rent Revenue 25,000
Unearned Rent 25,000
2 D in the statement of cash flows
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