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yanalaym [24]
3 years ago
9

On July 1 the Skysong, Inc. paid $19680 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full

amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Skysong, Inc. is ________
Business
1 answer:
Ghella [55]3 years ago
3 0

Answer:

The adjusting entry is as follows;

July 31

Rent Expense                                               Debit        $ 3,280

Prepaid Rent                                                 Credit                       $ 3,280

To record rent expense for the month of July

Explanation:

Prepaid rent payment                                                           $ 19,680

Period of payment                                                                 6 months

Period of benefit                                                                   1 month

Rent expense for 1 month I.e July is computed as

$ 19,680/6 months * 1 month                                                  $ 3,280

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Answer:

C. A possible cause of economic fluctuations is due to the use of fiscal policy for political purposes.

<em>Explanation:</em>

<em>During political business cycles the ups and downs of the economy are best explained through analyzing public policy. In a political business cycle we should expect that there will be some manipulations when using policy to try to make the politicians appear more competent than they are. In 1972, the Nixon administration basically increased the Social Security payments made to Seniors by 20%, 1972, was of course an election year, so the Nixon administration manipulated economic fluctuations due to his fiscal policy.</em>

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4 0
3 years ago
Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess d
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Answer: C) and D) answers.

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3 years ago
According to recent market research, Google is one of the most valuable brands in the world. According to this research, the com
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Answer:

The correct answer is letter "D": brand equity.

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5 0
3 years ago
Nine subjects, 87 to 96 years old, were given 8 weeks of progressive resistance weight training. strength before and after train
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Answer:

11.611 +/- 3.013

Explanation:

3     3.5     4       6        7          8        8.5        12.5       15

7      17      19      12       19       22       28         20         28

difference

4      13.5    15     6       12        14        19.5        7.5         13

mean = 11.611

the standard deviation ⇒ 7.611² + 1.889² + 3.389² + 5.611² + 0.389² + 2.389² - 7.889² + 4.111² + 1.389² = 57.927 + 3.568 + 11.485 + 31.483 + 0.151 + 5.707 + 62.236 + 16.9 + 1.929 = 191.386/9 = √21.265 = 4.611

standard deviation = 4.611  1.918

confidence interval = mean +/- [(standard deviation/√9) x 1.96]

11.611 + [(4.611/3) x 1.96] = 11.611 + 3.013

11.611 - [(4.611/3) x 1.96] = 11.611 - 3.013

4 0
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Answer:

Option b. Differs from accounting income due to differences in interperiod allocation and

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Explanation:

Corporation examples are joint stock companies, joint accounts, associations, insurance companies e.t.c.

A Corporation taxable income is simply defined as a part of its profits generated by corporations that is collected by the Federal and State government as an income tax. It is known as a direct tax. It is placed on the net income or profit of a corporate organization. The tax rate for corporation uses the slab rate system or method of taxation that is based on the type of corporate entity and the different revenues gotten by them individually.

6 0
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