Regal Real Estate,which Maintains Its Accounts on the Basis of a Fiscal

question 25

Multiple Choice

Regal Real Estate,which maintains its accounts on the basis of a fiscal year ending June 30,began the management of an office building on June 15 for an agreed annual fee of $4,800.The first payment is due on July 15.The adjusting entry required at June 30 is:

• A)A debit to Management Fees Receivable for $200 and a credit to a revenue account for $200.
• B)A $200 debit to Unearned Management Fees and a $200 credit to Management Fees Earned.
• C)A debit to Cash for $200 and a credit to Management Fees Earned.
• D)A debit to Cash for $400 offset by a credit to a revenue account for $200 and a liability for $200.

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Definitions:

Stem-And-Leaf Plot

A graphical method of displaying quantitative data that splits each value into a "stem" (the leading digit or digits) and a "leaf" (the last digit).

Frequency Distribution

A summary of how often each value occurs in a data set, typically represented in a table or as a graph.

Dotplot

A graphical display of data using dots, where each dot represents one or more observations, allowing for the visualization of the distribution of the data set.

Frequency Distribution

A tabular or graphical representation showing how often different values occur in a dataset.