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3 years ago

As Prepaid Rent is used, the asset becomes a/an

Business

2 answers:

Tju [1.3M]3 years ago

8 0

The correct answer is the letter B. Expense

melamori03 [73]3 years ago

6 0

As prepaid rent is used, the asset becomes a liability.
Liability because it becomes the responsibility of someone who uses the prepaid. Since the prepaid rent was used, it needs money to be able to pay them. It becomes the responsibility for someone to be able to use his money to pay the prepaid rent that was used.

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What item flows from the income statement to the statement of retained earnings?.

Reil [10]

Net Income flows from the income statement to the statement of retained earnings.

The balance sheet is balanced when net income from the income statement, less any dividends paid, is transferred to the retained earnings column. Additional connections- Long-term debt on the balance sheet is used to determine interest expenditure on the income statement.

Net income: In commerce, Net Income is the amount of cash left over on balance costs, like salaries and wages, the value of commodities or raw materials, and taxes, are paid. Net Profit is the amount that an individual keeps after paying taxes, insurance premiums, and retirement contributions.

Net Income.

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5 0

1 year ago

Loree manages the service desk and makes routine decisions related to customer refunds and merchandise returns. Loree also overs

Eva8 [605]

Answer:

First-line manager.

Explanation:

A first-line manager is a person within a company who is directly above all other personnel who are not managers. They have various obligations, such as the aforementioned routine decisions, service desk, feedback, work satisfaction, etc. When it comes to some more serious decisions, this type of a manager is not allowed to make them but rather only advise higher ups.

8 0

3 years ago

Which of the following is true about a "credit"? I. It is part of the double-entry procedure that keeps the accounting equation

kipiarov [429]

Answer:

III. I, II, III, and IV.

I. It is part of the double-entry procedure that keeps the accounting equation in balance.
II. It represents a decrease to assets.
III. It represents an increase to liabilities.
IV. It is on the right side of a T-account.

Explanation:

The debit-credit balance is necessary for maintaining the accounting equation in balance, i.e. all the debits must have a corresponding credit.

Asset accounts increase when they are debited and decrease when they are credited.

Liabilities accounts decrease when they are debited and increase when they are credited.

Debits are on the left side of a t-account and credits are on the right side.

3 0

3 years ago

While advocates of a market-oriented economy tend to argue that consumers benefit substantially when firms seek short-term profi

ELEN [110]

Answer: socially wasteful

Explanation:

Product differentiation is when a product is being distinguished from similar products in order to make it more appealing and therefore drive consumers choice.

It should be noted that critics of market-oriented economies may argue that product differentiation is socially wasteful.

4 0

3 years ago

The controller of Fortnight Co. has requested a quick estimate of the manufacturing supplies needed for the Cleveland Plant for

zmey [24]

Answer:

$778460

Explanation:

Using the highlow method, we calculate the variable cost per unit,

VC / unit = 855460 - 651960 / 730000 - 545000 = $1.1per unit

The total fixed cost will be = 855460 - (1.1 * 730000) = $52460

The cost estimating equation will be,

Total cost at x number of unit = 1.1x + 52460

The cost of manufacturing supplies for the month of July will be,

Total cost (July) = 1.1(660000) + 52460 = $778460

6 0

3 years ago