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EleoNora [17]
3 years ago
12

Due to the terms of its​ lease, ​Services, Inc., pays the rent for its new office space in one annual payment of on ​1, . The le

ase covers the period of ​1, ​, through ​31, . Services has a​ year-end of 31. Assume that Services had no other prepaid rent​ transactions, nor did it have a Prepaid Rent beginning balance in . Give the journal entries that Services would make for​ (a) the annual rent payment of on 1 and​ (b) the adjusting entry for rent expense on ​31, . What is the balance of Prepaid Rent at ​31, ​?
Business
1 answer:
hichkok12 [17]3 years ago
5 0

Answer:

a.

August 31

DR Prepaid Rent .........................................................$21,000

CR Cash.........................................................................................$21,000

(To record Prepaid rent)

b.

December 31

DR Rent.........................................................................$8,750

CR Prepaid Rent .........................................................................$8,750

(To record prepaid rent recognized)

Working

= $21,000 * 5/12 (August to December)

= $8,750

c. Balance in Prepaid rent;

= 21,000 - 8,750

= $12,250

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This monitoring will help to understand consumption and satisfaction trends so that the purchase and sales strategy is carried out more effectively and aligned.

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The school board is trying to evaluate a new math program introduced to second-graders in five elementary schools across the cou
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Answer:

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So m will be 3 (3 sigma) for the upper limit control and 3 (3 sigma) for the lower limit control:

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(the graphic is attached)

As we can see, al the test error values are between the control limits, so the program is undercontrol

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