In analyzing the december 31, the end of an annual fiscal period. accounts of sydney corporation, the adjusting data listed below are determined on dec 31, the end of an annual fiscal period(a) the prepaid insurance account shows a debit of $6,000, representing the cost of a two-year earthquake insurance policy dated july 1(b) on august 1, rent revenue was credited for $9,450, representing revenue from subrental for a seven-month period beginning on that date.(c) purchase of advertising materials for $3,550 during the year was recorded in the advertising expense account. on december 31, advertising materials costing $500 are on ha(d) on november 1, $4,200 was paid for rent for a six-month period beginning on that date. the rent nd. expense account was debited(e) miscellaneous office expense was debited for office supplies of $950 purchased during the year on december 31, office supplies of $125 are on hand.(f) interest of $534 has accrued on notes payable1. give the adjusting entry for each item.2. what sources would provide the information for each adjustment?

The vaska company buys a patent on january 1, year one, and agrees to pay $100,000 per year for the next five years. the first payment is made immediately, and the payments are made on each january 1 thereafter. if a reasonable annual interest rate is 8 percent, what is the recorded value of the patent? 1. $378,4252. $431,2133. $468,9504. $500,000

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.