User Account

All Pages

What correcting journal entry will Framber make

Assignment Help Accounting Basics
Reference no: EM132892170

Problem - At the end of 2019, Framber Company received $8,000 as a prepayment for renting a building to a tenant during 2020. The company erroneously recorded the transaction by debiting Cash and crediting Rent Revenue in 2019 instead of 2020. Upon discovery of this error in 2020, what correcting journal entry will Framber make? Ignore income taxes.

Reference no: EM132892170

Questions Cloud

What correcting journal entry will Cortex make : Cortex increased interest revenue in 2020 when it received the cash. Upon discovery of this error in 2020, what correcting journal entry will Cortex make
Security policy template-security framework policy : Describe and explain any other aspects of the document that are important to successful implementation.
What amount will have one year from now : Past 15 months to a savings plan that earns 4% compounded monthly. What amount will he have 1 year from now, if he continues with the plan?
Why is redundancy of data undesirable : These questions are about Access Microsoft What is an input mask used for? Why is redundancy of data undesirable?
What correcting journal entry will Framber make : The company erroneously recorded the transaction by debiting Cash and crediting Rent Revenue in 2019 instead of 2020. What correcting journal entry Framber make
What period of time could pay back a loan : What period of time could you pay back a loan of $13 900.00 by making monthly payments of $296.00 if interest is 6.5% compounded monthly?
Compute the current and future annual depreciation expense : At the beginning of the sixth year, the asset's book value is $200,000. compute the current and future annual depreciation expense
What is the present cash value : What is the present cash value? You are offered payments of $475.00 at the end of each semi-annual period for 6.5 years. You think that the cost of money is 6.1
Explain how external factors affect organisations : Explain how external factors affect organisations and how changes in the external environment affect organisational strategy

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd