Answer:
Preemptive rights
Explanation:
Preemptive rights are a way of preventing the dilution of a shareholder's ownership in a corporation. Preemptive rights are set by a contract clause that establishes that in case the corporation issues new stock, then a current shareholder must be given the right to buy additional shares before the stocks are sold to other investors.
The preemptive right usually gives the stockholder the right to buy new stock in the same proportion as his/her current stock ownership. For example, if an investor currently owns 2% of the company's stock, he/she will be able to buy 2% of every new set of stocks issued.
Answer:
1.
Dec 31 Rent expense $3450 Dr
Prepaid Rent $3450 Cr
2.
Oct 1 Prepaid Rent $13800 Dr
Cash $13800 Cr
3.
Year end balances at 31 December:
Rent Expense = $3450
Prepaid Rent = $10350
Explanation:
Assumption: The year end for the business in on 31 December.
1.
The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.
2.
The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.
3.
The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450
The balance in the prepaid rent account after adjusting the rent expense will be,
Prepaid rent = 13800 - 3450 = $10350
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Answer:
H. J. HEINZ COMPANY
Partial Balance Sheet
For the month ended April 30, 2017
Assets
<u>Current assets</u>
Cash $373,145
Accounts receivable $1,171,797
Inventory $1,237,613
Prepaid insurance <u>$125,765
</u>
Total current assets <u> $2,908,320</u> A
<u>Property, plant, and equipment</u>
Land $76,193
Buildings $4,033,369
Less: Accumulated depreciation <u>$2,131,260</u> <u>$1,902,109</u>
<u>$1,978,302</u> B
<u>Intangible assets</u>
Goodwill $3,982,954
Trademarks <u>$757,907 </u>
<u>$4,740,861 </u>C
Total assets (A+B+C) $9,627,483
Scarcity exists when there are limited resources available to satisfy all the competing uses.
<h3>What is scarcity?</h3>
When the demand for a resource or a product is more than its actual supply in the market, such a condition in the market is regarded as scarcity. For example, in deserted regions there is a scarcity of water.
Hence, the significance of scarcity is aforementioned.
Learn more about scarcity here:
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