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kicyunya [14]
2 years ago
7

Zach company previously recorded receiving $1,000 cash in advance. Zach company has earned ½ of the amount. the adjusting entry

would be:______.
A. Prepaid Rent 2,700
Rent Expense 2,700
B. Rent Expense 2,700
Prepaid Rent 2,700
C. Rent Expense 900
Prepaid Rent 900
D. Prepaid Rent 900
Rent Expense 900
Business
1 answer:
Mamont248 [21]2 years ago
6 0

The correct adjustment entry will be:

Prepaid Rent                     Dr.      900

           To Rent Expense                      900

An adjustment entry is one that is created to properly allocate each accounting period's income and expense amounts.

In order to ensure that the financial accounts at the end of the year are correct and current, it updates previously recorded journal entries. The matching principle is a requirement in accounting that you must follow. According to the matching principle, revenue is recognized when it is earned and costs are recognized when they are incurred.

Making adjusting entries allows you to correctly and timely record company transactions. But only the accrual basis of accounting is covered by this theory. Adjusting entries are not necessary if your company uses the cash basis technique.

To learn more about adjustment entry, click here

brainly.com/question/13716497

#SPJ4

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The answer would be C
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A) kiosk

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Initial margin requirements are determined by:________
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Answer:

b. the Federal Reserve System.

Explanation:

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3 0
4 years ago
Complete the following sentence.
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Answer:

Crucial or important?

Explanation:

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4 0
3 years ago
Read 2 more answers
Suppose you've just inherited $10,000 from a relative. You're trying to decide whether to put the $10,000 in a non-interest-bear
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Answer:

$800

$1,000

The quantity of money demanded decreases as the interest rate rises.

Explanation:

a

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= (8/100)%× $10,000

= 0.08% ×$10,000

= $800

To calculate the opportunity cost government at bond on 10%, we use the following method

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= (10/100)%× $10,000

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= $1,000

b. The quantity of money demanded decreases as the interest rate rises.

4 0
3 years ago
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