Answer:
Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.
Explanation:
Since Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1, we will calculate monthly rent amount by:
24,000/6 = $4,000
Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.
We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.
Answer:
Explanation:
Expenditure made to reduce costs; Expenditure made to increase revenue; Expenditure which is justified on non-economic grounds.
Direct material cost variance = (Standard price - Actual Price) * Actual Quantity
= ($50 - $51) * 47,000
= $47,000 adverse
Answer:a company's ability to utilize money and workforce when producing goods or offering a service.
Explanation:
