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sukhopar [10]
4 years ago
12

On September 1 the Petite-Sizes Store paid $12,000 to the Mega-Mall Co. for 3-month rent beginning September 1. Prepaid Rent was

debited for the payment. If Petite-Sizes Store prepares financial statements on September 30, the appropriate adjusting journal entry to make on September 30 would be ________.
a. Prepaid Rent - $4,000; Rent Expense - $4,000b. Rent Expense - $4,000; Prepaid Rent - $4,000c. Prepaid Rent - $8,000; Rent Expense - $8,000d. Rent Expense - $8,000; Prepaid Rent - $8,000
Business
1 answer:
blsea [12.9K]4 years ago
6 0
B) Rent Expense $4,000
Rent $4,000
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Operating cash flow is defined as:A. a firm's net profit over a specified period of time.B. the cash that a firm generates from
mina [271]

Answer:

B. the cash that a firm generates from its normal business activities using its existing assets

Explanation:

It represent the cash from the main activity. It is a good indicator wether the company needs external financing or it can sustain his grow with own funds.

It is stated in the cash flow statement. along with investing and financing activities.

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4 years ago
Certain adjusting entries made at the end of an accounting period are reversed at the beginning of the following period Required
frutty [35]

Answer:

No reversing entry is needed as they are all posted correctly

Explanation:

1. Rent Expense 1,000 Prepaid Rent 1,000

This entry is correct because it rent had been prepaid, then the entry would have been to debit 'Prepaid Rent'and credit Cash/Bank. However at the end of the period when rent is accrued, you debit 'rent expense' and credit 'prepaid rent'

2.Taxes Expense 1,750 Taxes Payable 1,750

This entry is correct because at the end of the period when Tax is accrued, you debit 'Tax expense' and credit 'Tax payable' because tax is always paid much later in a future period not the current period

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6 0
3 years ago
Read 2 more answers
Which of the following institutions makes up the largest part of the Federal Reserve System organization
vlada-n [284]

The Correct answer choice for question 1 is : <u>Federal Reserve Banks</u>

<h3>What is Federal Reserve Banks?</h3>

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                                                   AND

The Correct answer choice for question 2 is : <u>Buy government securities</u>

<h3>What is Recession?</h3>

A recession is a business cycle recession which occurs in a general slowdown in financial activity. Macroeconomic indicators such as GDP, finance spending, capacity utilization, household income, business profits, and inflation fall, while failures and the unemployment rate rise.

Therefore, we can conclude that the correct option of 1 is (B) and 2 is (A).

Your question is incomplete, but most probably your full question was:

1. Which of the following institutions makes up the largest part of the Federal Reserve System organization?

A. Board of Governors

B. Federal Free Market Committee

C. Federal Reserve Banks

D. Member banks and other depository institutions

2. If the United States falls into a recession, which action would the Federal Reserve take to encourage employment?

A. Buy government securities

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Learn more about Federal Reserve System on:

brainly.com/question/999538

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7 0
2 years ago
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