Answer:
Dr Rent revenue
Cr Unearned rent revenue, $4,500
Explanation:
Preparation of XYZ Company Journal entry
Since we were told that the Company received the amount of $18,000 on April 1, 2020 for a one year's rent paid in advance in which the transaction has a credit to a nominal account, this means we have to record the transaction by Debiting Rent revenue with 4,500 and Crediting Unearned rent revenue, with the same amount of $4,500 calculated as
(3/12 x $18,000 ).
Dr Rent revenue
Cr Unearned rent revenue, $4,500
(3/12 x $18,000 )
Answer: Debit Research and Development expense $477,000
Credit Cash $477,000
Explanation:
The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.
Based on the information given in the question, the journal entry for Sheffield Corporation will be:
Debit Research and Development expense $477,000
Credit Cash $477,000
Answer:
Web brosers are not considered a company's resource.
Explanation:
The reasons behind this answer are that in the first place, the company does own the hardware or office equipment the employee uses to send the e-mails. Also, they own the time because they have the arrangement to acquire the employees' time and skills to develop certain tasks. Furthermore, the company's also own the software they paid for. However, web browsers are free to use and they don't require licenses to be used. Therefore, web browsers are not copay's resources.
Answer:
c. appreciate
Explanation:
If the Federal Reserve reduces the interest rate of the US dollar this will lead to lower cost of funds, more people will borrow money and this increases money supplied to the economy.
Excess money will pursue less goods leading to inflation where the purchasing power of the US dollar will reduce.
All things being equal the value of the euro will appreciate against the US dollar if interest rate is decreased.
As the euro strengths against the US dollar, one will need less euros to purchase the weakened dollar.
