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
Brilliant_brown [7]
3 years ago
9

On September 1, Year 1, Hales Company paid its rent in advance for the months of October, November, and December. On December 31

, Year 1, Hales made the required adjustment to adjust its accounts. How does this year-end adjustment impact the amounts reported on the company’s financial statements?
Social Studies
1 answer:
sammy [17]3 years ago
5 0

Answer:

  • It decreases an asset.
  • It increases an expense.

Explanation:

Hales Company paid the rent for its facility in advance. This payment generated an expense that will interfere with the company's balance sheet, acting as an asset within the balance sheet. This interference will need to be readjusted later when the advance payments Hales Company has made are over, ie when the three months of advance payment have passed. Adjusting the company's balance sheet will decrease balance sheet assets, in this case being represented as advance rent, and will increase expenses, which in this case is money spent on rent. From this we can conclude that the company's year-end adjustment will show a decrease in assets and an increase in expenses.

You might be interested in
What is regional intergration
larisa [96]

Answer:

Regional integration is the process by which two or more nation-states agree to co-operate and work closely together to achieve peace, stability and wealth.

Usually integration involves one or more written agreements that describe the areas of cooperation in detail, as well as some coordinating bodies representing the countries involved.

This co-operation usually begins with economic integration and as it continues, comes to include political integration. We can describe integration as a scale, with 0 representing no integration at all between two or more countries. Ten would represent complete integration between two or more countries. This means that the integrating states would actually become a new country — in other words, total integration.

Explanation:

4 0
3 years ago
Which is not a means of making rational economic choices?
podryga [215]

Answer:

measuring production levels

Explanation:

Economic rational choices refers to a scientific frameworks that a person or  a group can use in order to fulfill all of their  interests and needs. The means are the things that we can use before we make those rational choices

To make a rational economic choices, there are several steps that generally need to be followed:

Understanding what want to be achieved - analyzing the resources that we possess to achieve it - formulating potential plans - assessing cost and benefit of our action - choosing the best plans.

Measuring production levels is an activity that we do after the plan is already executed. Is not something that we do before we make the choice.

5 0
2 years ago
Explain three basic principles of erikson's theory of development.
Delvig [45]
Mar fdse5t ae 6 +3 +3 =JSH
5 0
3 years ago
How long has senator Tom carper served in the senate
Alenkasestr [34]

Answer:

he served senate for 6 years (2001 to 2007)

3 0
3 years ago
Rene Descartes considers this as a reason why people philosophize​
Vlad [161]

Answer:

it is simple

Explanation:

3 0
3 years ago
Other questions:
  • What major point of U.S. President Wilson's Fourteen Points for Peace pushed for a withdrawal from colonialism?
    13·1 answer
  • What are the major root causes of religious conflict ​
    7·1 answer
  • What type of economic system is America? How do our economic system regulates choices to respond to economic challenges?
    8·1 answer
  • The belief that you control your own destiny is called
    12·1 answer
  • PLZZZ HELP I NEED THIS TODAY!!! I"M SOO OVER DU
    15·2 answers
  • Lenora's parents always taught her that she ought to "put on a happy face" even when she is not. according to research on self-p
    10·1 answer
  • Which answer best completes the following sentence? Two advantages of a confederation are that it ______ and ______.
    8·1 answer
  • Do big and wgc have a contract for the bushels of wheat? why or why not? analyze all issues.
    13·1 answer
  • Shays Rebellion was organized by farmers from what state
    5·2 answers
  • Can you help me with this? Just look up the articles to see what you're working with :)
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!