subject
Business, 08.02.2021 22:30 leannamat2106

ABC Co is on accrual basis. Receives in Dec 2019 $1,200,000 in rent from TENANTCO – Lease begins on 1/1/20 and will run for 2 years. The payment was all in advance – covers the entire 2 year lease period. What entries do you - accountant at ABC Co- make in 2019; 2020; 2021 to record this transaction?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 21:30
Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.
Answers: 2
question
Business, 22.06.2019 13:30
Hundreds of a bank's customers have called the customer service call center to complain that they are receiving text messages on their phone telling them to access a website and enter personal information to resolve an issue with their account. what action should the bank take?
Answers: 2
question
Business, 22.06.2019 19:30
Oz makes lion food out of giraffe and gazelle meat. giraffe meat has 18 grams of protein and 36 grams of fat per pound, while gazelle meat has 36 grams of protein and 18 grams of fat per pound. a batch of lion food must contain at least "46,800" grams of protein and 70,200 grams of fat. giraffe meat costs $1/pound and gazelle meat costs $2/pound. how many pounds of each should go into each batch of lion food in order to minimize costs? hint [see example 2.]
Answers: 1
question
Business, 22.06.2019 20:00
Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.
Answers: 3
You know the right answer?
ABC Co is on accrual basis. Receives in Dec 2019 $1,200,000 in rent from TENANTCO – Lease begins on...
Questions
question
Computers and Technology, 04.10.2021 18:00
question
Mathematics, 04.10.2021 18:00
Questions on the website: 13722359