Answer:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Explanation:
The accrual concept of accounting requires us to record the expenses in a period in which they are incurred rather than when cash is paid. When the company paid advance rent of six months at the end of October, it will record a current asset (Unexpired resource) on the face of balance sheet. At the end each accounting period, it is required to expense out the resources (benefits) that are expired (utilized). This can be done through straight-line method. So, on December 31, 2019, the rent expense of two months that is of November and December should be charged to profit and loss statement in-order to record the expense of related period.
<u>Workings</u>
Rent expense per month = 29,400 / 6 = $4,900.
⇒ Rent expense of two months = 4,900 * 2 = $9,800.
This amount should be written off and the required adjusting entry is:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Answer:
a bank
Explanation:
that is where you open a savings account
If this question has the same choices like the previous ones posted here, then the answer would be letter letter C. <span>The speaker is willing to improve workplace safety.
</span><span>
Choices to this question are:
a.
The speaker is an environmentalist and wants to preserve resources.
b.
The speaker is concerned that employees will be lazy.
c.
The speaker is willing to improve workplace safety.
d.
The speaker will not allow OSHA or the EPA to inspect their job site.</span>
Answer:
$84.00
Explanation:
The cost of machining per phone will be calculated as;
Machine time required x cost per machine hour
Here Given is:
6 hours of machine time
$14.00 per machine hour rate
6 hours × $14.00 = $84.00
Answer:
What are the businesses that are listed?
Explanation:
