After each month, adjust the accounts. Cruella's adjusting entry at the end of February should include a debit to rent expense for $100.
<h3>What is an adjusting entry?</h3>
Adjusting entries refer to a set of journal entries recorded at the end of the accounting period to have updated and accurate balances of all the accounts. The main purpose of adjusting entries is to communicate an accurate picture of the company’s finances. The management can have a proper look into the financial statements knowing that Everything that occurred during the month is reported, even if the financial part of the transaction would have been warranted to have occurred at a later stage.
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False, because you can't really use those animals for a service.
Explanation:
No matter how bold or ambitious your plans are to grow your business, the key to your business's success lies in three critical, interdependent components: operational excellence, customer relations/communications and financial management.
