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.

Double corporation acquired all of the common stock of simple company for

Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?

Beranek corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. the new cfo wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. how much must the firm borrow to achieve the target debt ratio? a. $273,600b. $288,000c. $302,400d. $317,520e. $333,396