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3 years ago

Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are:

Business

1 answer:

vitfil [10]3 years ago

4 0

Answer:

The correct answer is letter "B": Debit Prepaid Rent, credit Cash.

Explanation:

Prepaid rent is the rent paid in advance. Usually, rent payments are made every month by the beginning of the month but other timeframes can also be agreed upon the lease. <em>Prepaid rent is debited to prepaid assets and credited to accounts payable. When the check for the payment is cut, accounts payable is debited and a cash account is credited.</em>

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gayaneshka [121]

B.81.06 because joe began saving listen to began saving

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3 years ago

By the end of the accounting period, employees have earned salaries of $650, but they will not be paid until the following pay p

pav-90 [236]

Answer:

The required adjusting entry would be to debit the Salaries expense account $650 and credit the accrued salaries account $650.

Explanation:

When an expense is incurred but yet to be settled in accrual accounting, the expense has to be recognized in the period in which it is incurred by debiting the expense account and crediting the accrued expense ( a liability) account with the amount incurred.

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3 years ago

Often, products enter the Blank______ stage of the product life cycle not due to any error in strategy but because of environmen

Anna35 [415]

Often, products enter decline the stage of the product life cycle not due to any error in strategy but because of environmental changes.

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

A product life cycle is the amount of time a product goes from being introduced into the market until it's taken off the shelves. There are four stages in a product's life cycle—introduction, growth, maturity, and decline.

<h3>What is the decline stage?</h3>

The final stage of the product life cycle (after introductory stage, growth stage and maturity stage) when sales are dropping because the original need and want have diminished or because another product innovation has been introduced.

The sales of most products will decline at some stage. This can be due to factors such as technological advances, trends, innovation or changing consumer tastes. You will know when your product reaches the decline stage of its life cycle because you will notice a significant downturn in the revenue it generates.

Learn more about Decline Stage of Product on:

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4 0

2 years ago

spectrum corp desires a 25% target gross profit after covering all product costs: considering the total product costs assigned t

HACTEHA [7]

Answer:

Note: "<em>The full question is attached as picture below"</em>

<em />

Required selling price for product = Total product cost / Product cost as a percentage of selling price

Note: <em>When the gross profit rate is 25%, this means that Product cost as a percentage of selling price is 75%</em>

Total cost assigned for product C = $1,396

Total cost assigned for product D = $3,158

<em>What would Oak have to charge the customer to achieve that gross profit?</em>

Charge to the customer for Product C:

= $1,396 / 0.75

= $1861.333333333333

= $1,861.33

Charge to the customer for Product D:

= $3,158 / 0.75

= $4210.666666666667

= $4,210.67

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3 years ago

"the public safety office at millennium college maintains a list of parking tickets issued to vehicles parked illegally on the c

aalyn [17]

Parking illegally on college grounds is an offense so there fore parking tickets should be maintained

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3 years ago