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
SVETLANKA909090 [29]
2 years ago
10

The balance in the prepaid rent account before adjustment at the end of the year is $21,000, which represents three months’ rent

paid on december 1. the adjusting entry required on december 31 is to
Business
1 answer:
nikdorinn [45]2 years ago
6 0
Rent for December is
21000/3months= 7000

The adjusting entry is
Debt to rent expenses 7000
Credit to prepaid rent 7000
You might be interested in
]To estimate the percentage of defects in a recent manufacturing​ batch, a quality control manager at Daimler minus Chrysler sel
krek1111 [17]

Answer:

Answer is option A, i.e. systematic sampling.

Explanation:

Systematic sampling is the type of probability sampling method of selection of samples out of the given group of homogenous nature. In this method, every Kth sample is selected until the required amount is obtained. Here, Chrysler selects every 16th van until he is successful in obtaining the 80 vans. Thus, Chrysler is using a systematic sampling method here.

3 0
3 years ago
Flint Corporation commenced operations in early 2020. The corporation incurred $58,500 of costs such as fees to underwriters, le
Alekssandra [29.7K]

Answer and Explanation:

The journal entry is shown below:

1. Organization expense Dr $58,500

     To cash $58,500

(Being organization expense is recorded)

Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance

2. No entry is required as the amortization is recorded for only intangible assets

6 0
2 years ago
Harry owns a Cadillac and a Porsche. Ryan has always wanted a Porsche and knows Harry owns one. Harry decides to sell his Cadill
seropon [69]

Answer:

mutual mistake

Explanation:

A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.  

Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.

6 0
3 years ago
Match the example with the business structure that makes sense for it. To match the items, click the example, and then click the
Kazeer [188]

Answer:

Doug and Vanessa- partnership

Esperanza- sole partnership

Robyn- c corporation

Cuba- s corporation or LLC

Ming- nonprofit corporation

I hope this helps someone!!

7 0
2 years ago
Air France collected cash on February 4 from the sale of a ticket to a customer on January 26. The flight took place on April 5.
expeople1 [14]

Answer:

Air France should have recognized the Revenue in month of  APRIL.

Explanation:

According to the revenue recognition concept the revenue should be recognized when it is realizable. When goods or services are tranferred or rendered to the customer. It doesn't matter matter when the payment is received. Payment received in advance should be recorded as unearned revenue rather as revenue. On the other hand payment doesn't received until the transfer of goods or services, a receivable will be made in result of revenue recognition entry. Air France should recognize the revenue on April 5, when the flight took placed and services are performed. Sale of ticked on January 26 will be recorded as unearned revenue and a receivable on the other hand. The receivable will be adjusted on February 4 when cash is received and the revenue will be recognized on April 5 when flight took place.

7 0
3 years ago
Other questions:
  • Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $35,000 to his em
    9·1 answer
  • Hsu Company reported the following on its income statement: Income before income taxes $302,634 Income tax expense 90,790 Net in
    11·1 answer
  • g The long-run effect of an increase in household consumption is to raise a. both real output and the price level. b. real outpu
    8·1 answer
  • During the year, Apex Co. sold an unprofitable component of the company. The component had a net loss from operations during the
    12·1 answer
  • Prompt 1 in his 2015 papal encyclical, laudato si', in which he addresses climate change and our collective responsibility to ca
    7·1 answer
  • Kyei weighed half the total weight of his two brothers. his two brothers be weighed 44 1/2kg and 32 1/2kg.what was kyei's weight
    7·1 answer
  • The manager of an air conditioning manufacturing plant wants to train their service installers on the steps to follow to install
    7·1 answer
  • What is the difference between division of labour and specialisation?
    13·1 answer
  • Brendan buys a used car in April 2020 from his neighbor for $20,000. After one month, he loses his job and decides to sell the c
    7·1 answer
  • Material requirements plus an allowance for normal inefficiencies are added together to determine the.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!