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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

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This is not an appropriate strategy for resolving the issue, as decisions should never be made based solely on assumptions, such as the fact that the product engineers in question are new hires and therefore unable to write. This is further explained below.

<h3>What is a decision?</h3>

Generally, a decision or conclusion was arrived at after careful deliberation.

In conclusion, When John was making this choice, he made a number of assumptions, one of which was that the three new product engineers are not competent writers and that their writing is horrible. John is also of the opinion that the only way the firm's technical handbook can be brought up to the standards of the corporation is by providing students with the opportunity to take a course in technical writing.

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5 0
1 year ago
Suppose the mean income of firms in the industry for a year is 75 million dollars with a standard deviation of 17 million dollar
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Answer and Explanation:

Given:

μ = 75 million

SD = 17 million

Probability (x) raw data = 110 million

Computation:

= Probability (x) < 110 million

= Probability [(x-μ) / SD] < [(110 - 75) / 17]

[(x-μ) / SD] = Z

= Probability [z] < [(35) / 17]

= Probability [z] < [2.05882353]

Using z calculator:

P-value from Z-Table:  

Z score = 0.98024

Therefore, probability is 0.98024

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3 years ago
Which of the following statements is​ correct?
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Answer:

C. Governments have a difficult time​ fine-tuning the economy by using fiscal policy because there are several time lags and these are often variable.

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Fiscal policy includes two important tools, one is taxation and the other is government spending, the balance of which is essential for the sustainable economy, however the collection of expected tax and the nature of spending (also include the priorities) takes time and certain variable factors e.g. economic growth (GDP), employment, inflation, etc makes it difficult for the government to fine tune the economy.

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identify and discuss three or four of the major elements required in the statement on standards for valuation services (SSVS). B
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Explanation:

Statement on standards for valuation services:

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<u>Major Elements:</u>

  i) Sufficient evidence

Sufficient evidence must be gathered by such means as inspection, inquiry  computation, and analysis to ensure that the business valuation conclusion and report are properly supported.

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The valuation analyse must document matters , which are important in providing evidence to ;

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  b) Justify decision made in the contact of engagements and;

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The valuation analyst should consider anything that may affect minority  majority or control issues , including but not limited to:

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          - Veto power

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 iv) Scope of work

Scope should be supportable and consistent with expectation of participants and peers in the market for similar services and in compliance with these valuation standards.

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Tijuana's actions are an example of <u> "altruism".</u>


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