Green Realty Company Received a Check for $24,000 on July

question 30

Multiple Choice

Green Realty Company received a check for $24,000 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client.Unearned Rent Revenue was credited for the full $24,000.Financial statements will be prepared on July 31.Green Realty should make the following adjusting entry on July 31:

• A)debit Unearned Rent Revenue, $4,000; credit Rent Revenue, $4,000.
• B)debit Rent Revenue, $4,000; credit Unearned Rent Revenue, $4,000.
• C)debit Unearned Rent Revenue, $24,000; credit Rent Revenue, $24,000.
• D)debit Cash, $24,000; credit Rent Revenue, $24,000.

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Definitions:

Detected Stimuli

Sensory input from the environment that is recognized and processed by the nervous system.

Signal-Detection Theory

The theory that perceiving or not perceiving a stimulus is actually a judgment about whether a momentary sensory experience is due to background noise alone or to the background noise plus a signal.

Classical Psychophysical

Relates to the traditional study of the relationships between physical stimuli and the sensations and perceptions they produce.

Sensitivity

The capacity to perceive, feel, or be aware of stimuli or changes in the environment; can also refer to the degree of responsiveness to social or emotional matters.