Murphy Company sublet a portion of its warehouse for five years at an annual rental of $75,000, beginning on May 1, 2020. The tenant, Sheri Charter, paid one year’s rent in advance, which Murphy recorded as a credit to Unearned Rent Revenue. Murphy reports on a calendar-year basis. The adjustment on December 31, 2020 for Murphy should be:

The income statement of Dolan Corporation for 2020 included the following items:  Interest revenue  $141,000 Salaries and wages expense   210,000 Insurance expense 21,200                                                          The following balances have been excerpted from Dolan Corporation’s balance sheets:  December 31, 2020   December 31, 2019 Interest receivable        $18,200 $15,000 Salaries and wages payable   17,800 8,400 Prepaid insurance    2,200 3,000 The cash received for interest during 2020 was:

For the year ended December 31, 2020, Transformers Inc. reported the following: Net income $300,000 Preferred dividends declared 50,000 Common dividend declared 10,000 Unrealized holding loss, net of tax  5,000 Retained earnings  400,000 Common stock 200,000 Accumulated Other Comprehensive Income,                      Beginning Balance 25,000 What would Transformers report as its ending balance of Accumulated Other Comprehensive Income?

The current assets total is:

(Please write 4 to 6 sentences in paragraph form).   What modifications would you make to this class to further assist you in reaching your fitness goals?  

Arreaga Corp. has a tax rate of 20 percent and income before non-operating items of $1,392,000. It also has the following items (gross amounts). Unusual loss $222,000 Discontinued operations loss 606,000 Gain on disposal of equipment 48,000 Change in accounting principle        increasing prior year’s income 318,000   What is the amount of income tax expense Arreaga would report on its income statement?

(Please write 4 to 6 sentences in paragraph form).   How do you feel weekly exercise has affected you this semester?

Which of the following is a platelet?   

Starr Corporation loaned $600,000 to another corporation on December 1, 2020 and received a 3-month, 8% interest-bearing note with a face value of $600,000. What adjusting entry should Starr make on December 31, 2020?

Presented below are data for Caracas Corp.: 2020  2021 Assets, January 1  $6,840 ? Liabilities, January 1 ? $4,104 Stockholders’ Equity, Jan. 1 ? $4,125 Dividends   855 969 Common Stock 912 975 Stockholders’ Equity, Dec. 31 ? 3,399 Net Income  1,026 ?  Net income for 2021 is: