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
Alexxandr [17]
2 years ago
12

As prepaid expenses expire with the passage of time, the correct adjusting entry will be a:

Business
1 answer:
Nonamiya [84]2 years ago
4 0

Answer:

d. debit to an expense account and a credit to an asset account.

Explanation:

When a prepayment is made, the entries recorded are Debit prepaid expense and credit Cash account to recognize the amount prepaid.

As time passes and the expenses are incurred, the entries required are debit expense account and credit prepaid expense (an asset) with the amount of the expense incurred as a result of the passage of time.

You might be interested in
On July 15, 2021, the Nixon Car Company purchased 2,600 tires from the Harwell Company for $35 each. The terms of the sale were
mote1985 [20]

Answer:

Explanation:

The journal entries are shown below:

On July 15:

Purchase A/c Dr $89,180

       To Accounts payable $89,180

(Being purchase of goods are made on credit with discount)

The computation of the purchase of tires after applying the discount is shown below:

= Number of tires × price per tire - discount rate

= 2,600 tires × $35 - 2%

= $91,000 - $1,820

= $89,180

On July 23:

Account payable A/c Dr $89,180

     To Cash A/c                                  $89,180

(Being payment is made)

On August 15:

Account payable A/c Dr $89,180

Interest expense A/c Dr $1,820

     To Cash A/c                                  $91,000

(Being payment is made on late interval)

4 0
3 years ago
Garrison Shops had a SUTA tax rate of 3.7%. The state's taxable limit was $8,000 of each employee's earnings. For the year, Garr
Ierofanga [76]

Answer:

Detailed solution is given below:

7 0
3 years ago
Knowing what of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions?
givi [52]

Knowing what stage of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.

<h3>What is the product life cycle?</h3>

The stages that a product goes through as it enters, establishes itself and leaves the market are defined by the Product Life Cycle (PLC). The product life cycle, in other words, outlines the stages that a product is likely to go through. Managers can use it to examine their products and create plans as they move through different stages.

When a product is first introduced to the market, a company frequently faces higher marketing expenses; nevertheless, as product adoption rises, more sales are realized.

When a product's adoption matures, sales stabilize and peak, however they may decline due to competition and obsolescence. When making business decisions, from pricing and advertising to expansion or cost-cutting, the idea of product life cycle might be helpful.

To learn more about the product life cycle, visit:

brainly.com/question/9363762

#SPJ4

4 0
2 years ago
Debt-to-equity ratio is:
babymother [125]
The D/E ratio indicates how much debt a company is using to finance its assets relative to the value of shareholders' equity
5 0
2 years ago
The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigati
Ludmilka [50]

The variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

<h3>What is a performance report?</h3>

A performance report is at the heart of the variance analysis cycle.

The performance report details the following:

  • Calculates the difference between actual and budgeted expenditure and revenue.
  • Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.
  • Investigates the reasons for the differences.
  • Puts the information together and reports to management.

Thus, the variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

Learn more about performance reports and variances at brainly.com/question/13287252

4 0
2 years ago
Other questions:
  • Calvert Corporation expects an EBIT of $25,300 every year forever. The company currently has no debt, and its cost of equity is
    11·1 answer
  • The amounts to calculate ratio of liabilities to stockholders' equity can be found on
    11·2 answers
  • What is 10% of 500,000<br><img src="https://tex.z-dn.net/?f=10%5C%25of50.000%20%5C%5C%20" id="TexFormula1" title="10\%of50.000 \
    7·2 answers
  • The subject has $8,000 pool and a $2,000 chimney but no porch. a comparable that sold for $199,000 has a $3,000 porch but no poo
    6·1 answer
  • What are the characteristics of the best circular flow of income?
    5·1 answer
  • Which of the following statements is false? A) Battery acid cannot be neutralized B) Batteries should never be stored on metal t
    8·1 answer
  • An organization's only sustainable competitive advantage lies in: Group of answer choices
    12·1 answer
  • Ellen Carson’s sales for 5 months were $26,908, $28,386, $28,730, $27,290, and $29,009. What must be her sales next month if she
    12·1 answer
  • What is meant by activity analysis? Give 3 criteria for determining whether an activity adds value.
    9·1 answer
  • ________ is the risk that the host government will take specific steps that prevent the foreign affiliate from exercising contro
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!