1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kicyunya [14]
1 year 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]1 year 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

You might be interested in
Andrew volunteered for the American Red Cross after a recent hurricane. He traveled 200 miles and helped the victims of the disa
Lyrx [107]

Answer: 1.

Mileage for the 200 miles he drove to the ravaged area

2.$1,500 charged to the credit card during the year

3.The cost of lodging while he is volunteering

Explanation:

3 0
3 years ago
Read 2 more answers
Which of these statements is true of the hiring process
aleksandr82 [10.1K]
What are the choices?

8 0
3 years ago
Read 2 more answers
Gladys learns from her agent Phil that he has just received a full price offer from a minority couple. She tells Phil to pull he
GaryK [48]

Answer:

both Gladys and Phil

Explanation:

Based on the information provided within the question it can be said that in this scenario both Gladys and Phil are guilty of violating the Fair Housing Law.  The Fair Housing law completely outlaws the refusal to sell a house or property to someone on the basis of race, color, disability, religion, sex, familial status, or national origin. Which is exactly why Gladys and Phil removed the property and did not want to sell to the minority couple.

5 0
3 years ago
A(n) _____ refers to a situation where a publicly traded company is purchased and then taken off the stock market.
dalvyx [7]
Leveraged buyout/////////////////
4 0
3 years ago
Angie Silva has recently opened The Sandal Shop, a store that specializes in fashionable sandals in Brisbane, Australia. Angie h
Elza [17]

Incremental contribution margin:

$25,000 increased sales x 60% CM ratio           $15,000

                                                                             

Incremental fixed salary cost                                8,000

Increased net income                                            $7,000.

yes, the position should be converted.

In economics, the margin is profit after deducting expenses, expressed as a percentage. In investing, the margin is the deposit an investor leaves with a broker when borrowing money to buy a security.

The portion of a page or sheet outside the body of a printed product or document. 2: The outer boundary and adjoining surface of something: a ridge at the edge of the continental margin of a forest. 3: Any amount or measure or degree of substitution permitted or granted due to unforeseen circumstances or special circumstances was not subject to error.

Learn more about margin at

brainly.com/question/10218300

#SPJ4

6 0
1 year ago
Other questions:
  • Read the spreadsheet formula below, then answer the question.
    14·1 answer
  • The current price for a good is ​$25​, and 100 units are demanded at that price. The price elasticity of demand for the good is
    15·1 answer
  • how would you handle a situation in which the supervisor of another department approaches you with a strong complaint about one
    15·1 answer
  • Wages expense Wages payable Utilities expense Accounts payable Unearned service revenue Service revenue Equipment Intangible ass
    5·1 answer
  • Holding all other things constant, an increase in the company's required return on investment (ROI) will affect:
    10·1 answer
  • Mike takes a card out of his wallet at the grocery store and swipes it to pay for his groceries. What did Mike use?
    13·2 answers
  • A central bank acts as a lender of last resort especially in times of financial crisis. What is the purpose of this function
    15·1 answer
  • Because of the difference between the discipline imposed by market competition and the discipline imposed by political decisions
    7·1 answer
  • Garcia is currently spending his entire lunch budget on 3 sodas and 4 hot dogs. At his current level of consumption, Garcia's ma
    6·1 answer
  • Which stage of the money laundering process occurs when funds gained from criminal activity enter the financial institution?.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!