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dsp73
3 years ago
8

ABC Tax Planning Service started business in January 2018. The company rented an office for 7,000 per month starting from Januar

y​ 1, 2018. On that​ day, ABC prepaid the rent through June 30. The company makes adjusting entries at the end of each month. What is the balance in the Prepaid Rent account as of April​ 30, 2018?
A.$ $3,500
B.$7,000
C.$14,000
D.$ 1,167
Business
1 answer:
Jet001 [13]3 years ago
3 0

Answer:

The answer is: C) $14,000

Explanation:

ABC Tax Planning Services paid six months of rent in advance, from January to July. It spends $7,000 per month on rent, so the six months prepaid rent would be $42,000. On April 30, 2018, ABC had already rented the offices for 4 months, so it had only two months left in its Prepaid Rent account, equivalent to $14,000 (2 x $7,000).

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Richard has $652 in his account and is planning a road trip. He looks at how expensive hotels and sightseeing costs are in certa
Cloud [144]

Answer:

The answer is: Detroit  $196.87

Explanation:

We first must add the cost of visiting the five cities:

Detroit            $196.87

Pittsburgh      $180.32

St. Paul          $102.87

Cincinnati      $155.81

<u>Richmond      $211.86      </u>

Total cost     $847.73

Then we find what is the difference between the total cost and the road trip budget: $847.73 - $652 = $195.73

The cheapest city that Richard can drop is Detroit, by doing so his total expenses will be $650.86, which is below his budget.

4 0
3 years ago
Read 2 more answers
Given some of the apparent problems with Wilkerson’s cost system, should executives abandon overhead assignment to products enti
Aneli [31]

Answer:

Current issues in the framework by regarding fabricating costs as a period cost  

Assembling overhead is evaluated bu increasing direct work with 300%. This estimation isn't exact and doesn't speak to how the genuine variable sub-costs that form the manufacturing overhead act for example machine related costs, arrangement work, getting and creation control, designing, bundling and sending. In spite of the fact that there could be a connection between the measure of direct work cost and the all out manufacturing overhead, this present strategy for estimation is dubious and ignores the real segments of manufacturing overhead.  

Advantage of Product Cost  

Increasingly exact impression of the inconstancy of the sources for example on the off chance that there are five factors, it is more precise than one.  

Advantage of Period Cost  

Treating manufacturing overhead as a period cost implies that it stays simpler to contrast Wilkerson's and a rival, given that contender likewise treats manufacturing overhead as a period cost for example it is simpler to analyze like-for-like

6 0
3 years ago
taxes: a. are unlikely to affect market supply and demand b. are copmulsory payments to governments c. never affect efficiency i
Crank

Answer:

The answer is B.

Explanation:

Taxes are compulsory payment levied by a government of a country. It is not voluntary.

We have direct and indirect tax.

Direct taxes are those taxes that are imposed on individual and company. A company is charged at a rate after its profit is known. An individual earning salary is charged before the salary is collected.

Indirect taxed are those levied on goods and services. These types of taxed are pass on to the consumers in form of price of goods.

Tax is mandatory for everyone. Its a revenue for government

5 0
3 years ago
Robert, the president of the labor union of a company, speaks to the management of the company about the requirement for an extr
vodomira [7]

Answer:

Taft-Hartley Act

Explanation:

Taft-Hartley Act is also known as the labour management relations act of 1947 and it restricts the activities and powers of labour unions. It stops unions for engaging in unfair labour practices such as jurisdictional strike, wild strike, political strike, secondary boycotts, and monetary donations to political campaigns.

Robert has violated the Taft-Hartley act by creating a fictional role in the company in order to get his cousin a job.

8 0
3 years ago
Before Kraft introduced Philadelphia Single Size Cream Cheese Spreads, it test marketed them in California markets to see if the
Nitella [24]

Answer:

The right option is (a)

Explanation:

Experimental research is a technique that helps to analyse the initial consumer response before officially launching the project. Kraft has launched an experimental research in California market to test their product and to analyse if the serving was acceptable with the new product. Experimental research generally helps to determine the flaws and loopholes in a product.

4 0
3 years ago
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