Vaughn Manufacturing received cash of $63600 on August 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 2017 adjusting entry is:

A. debit Cash and credit Unearned Rent Revenue, $37100.
B. debit Unearned Rent Revenue and credit Rent Revenue, $26500.
C. debit Rent Revenue and credit Unearned Rent Revenue, $26500.
D. debit Rent Revenue and credit Unearned Rent Revenue, $37100.

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u. s. company and i don’t make decisions based on what’s good for the u. s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?