Based on the amount paid by Olive Company for the two year period, the adjusting entry on December 31 would be a debit to an expense and a credit to prepaid expense for $2,050.
<h3>What would be the adjusting entry?</h3>
Based on the accrual method, only costs for the year can be recorded as expenses.
If any costs are for other periods, those costs would be credited to prepaid expenses.
The expense for this year for management services would be:
= Number of months from July to December x Amount paid / number of months in contract
= 6 months x 8,200 / 24 months
= $2,050
In conclusion, expenses will be debited $2,050.
Find out more on prepaid expenses at brainly.com/question/9270086.
Answer:
Labor leads to more love when participants successfully completed the task.
Explanation:
The answer is already provided in the question.
Answer: a. deceptive, and the FTC may issue a cease-and-desist order.
Explanation:
A product that can increase human height by 6 inches sounds highly improbable and so is deceptive to people.
The Federal Trade Commission in it's role as a protector of Consumers from.unfair and deceitful practices in Commerce can act against Acme to stop them from deceiving the consumer.
One of the ways that the FTC can do this is by issuing a Cease and Desist order to Acme and if they fail to do so, can then take them to Court.
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Answer:
receipts of cash from David Levin's
Explanation:
