To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for;
- Rent expense is debited, prepaid rent is credited
<h3>Prepaid rent account</h3>
A prepaid rent account simply a current asset account that's responsible for reporting the amount of future rent expense that was paid in advance of the rental period.
On this note, the amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.
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Answer:
And he has reasons to be angry. The hotels usually are part of a large chain that can provide service for costumers to be happy in the given case that something like what you described happens. The hotel is not taking into account the interest and concerns of it's costumer and that will greatly affect the reputation the have.
Explanation:
When a company "Guarantee" a service or product is under the moral obligation to satisfy the costumer on the terms previously agreed on. Managers should be aware that failing to fix the problem will no doubt affect the perception of possible clients in the future.
Answer:
1. A) Gold coins
2. B) food stamp
3. Gold coins
Funds in a checking account
Funds in a savings account
100 shares of Google stock
Grocery Store Coupons
Food stamps
Explanation:
Money is legal tender that is generally acceptable for transaction within a geographical location mostly a country.
Gold coins is a form of money that is accepted it can be use for transaction immediately.
Funds in checking and savings accounts :-money is available but not in cash or coin, a card is needed to make of the money.
100 shares of google stock:- this is an investment that will yield dividend over a period of time, its not available for use at the moment.
Grocery store coupons is restricted to a specific grocery store and has no value outside.
Food stamp is not generally acceptable outside the designated points.
The industry is currently in long-run equilibrium. The economy now goes into a recession and average incomes decline. The result will be an increase in output, but not in the price, of the product. This is further explained below.
<h3>What is a
product?</h3>
Generally,
In conclusion, The market is in a state of long-term balance. There is currently a drop in typical salaries and the economy is entering a recession. As a consequence, production will rise without corresponding increases in cost.
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Answer:
decrease and average total cost to increase
Explanation:
Based on the information provided within the question it can be said that in this scenario we would expect Joe's output to decrease and average total cost to increase. This is mainly due to the fact that Joe's Juice Shop is in a monopolistically competitive market meaning that one company controls and dominates the entire market which will ultimately put Joe's Juice Shop out of business.
