1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
HACTEHA [7]
3 years ago
5

Answer the following questions about prepaid​ expenses:

Business
1 answer:
pochemuha3 years ago
6 0

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

You might be interested in
Conduct research and create a 5 paragraph essay that explains how consumers can protect themselves from fraudulent and deceptive
snow_lady [41]

Answer: Reading the fine print: the producer would always make available fine print on their products which distinguishes them from other's, the consumer is expected to take note of that.

Explanation:

Fraudulent practise are being on the increase in business now, as many want to imitate firms and make gains out of their products. The following are what consumers can look out for to help them against this fraudulent practise.

1) Do not call list; the producer would make available how they can be reached and would want the consumer to reach them by such ways.

2) Reading the fine print: the producer would always make available fine print on their products which distinguishes them from other's, the consumer is expected to take note of that.

3) Terms and conditions: although this can be imitated but the producer has a unique way they would do theirs which the consumer should be aware of.

4) Personal information disclosures: when considering services, there will be need for releasing personal information, the customer should verify who they release information to.

7 0
3 years ago
During the last year, Exeter Enterprise Inc. generated $702.00 million in cash flow from operating activities and had negative c
kakasveta [241]

Answer:

a.) -$254.00 million

* The option given in the question is inconsistent with question's data so that the answer is not matched. Following Question is the correct. Please refer my following solution to this question

During the last year, Len Corp. generated $936 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$512 million). At the end of the first year, Len Corp. had $160 million in cash on its balance sheet, and the firm had $330 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year?

a.) -$254.00 million

b.) -$127.00 million

c.) $317.50 million

d.) $190.50 million

Solution based on above data:

Cash Balance at the end of Year 2 = Cash Balance at the start of Year 2 + net cash flow for year 2

Cash Balance at the end of Year 2 = Cash Balance at the start of Year 2 + ( Cash flow from operating activities + cash flow from Investing activities + cash flow from Financing activities

$330 million = $160 million + ( 936 million + (-$512 million ) + cash flow from Financing activities )

$330 million = $160 million + ( 936 - $512 million + cash flow from Financing activities )

$330 million = $160 million + 424 million + cash flow from Financing activities

$330 million = $584 million + cash flow from Financing activities

Cash flow from Financing activities = $330 million - $584 million

Cash flow from Financing activities = - $254 million

Explanation:

According To given data:

Cash Balance at the end of Year 2 = Cash Balance at the start of Year 2 + net cash flow for year 2

Cash Balance at the end of Year 2 = Cash Balance at the start of Year 2 + ( Cash flow from operating activities + cash flow from Investing activities + cash flow from Financing activities

$305 million = $120 million + ( 702 + (-$384 million ) + cash flow from Financing activities )

$305 million = $120 million + ( 702 - $384 million + cash flow from Financing activities )

$305 million = $120 million + 318 million + cash flow from Financing activities

$305 million = $438 million + cash flow from Financing activities

Cash flow from Financing activities = $305 million - $438 million

Cash flow from Financing activities = - $153 million

8 0
3 years ago
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received
Nady [450]

Answer:

$14,960

Explanation:

Pay $22,000 bill in December:

$22,000 tax deduction × 32%marginal tax rate = $7,040 in present value tax savings.

After-tax cost= Pretax Cost − Present Value

Tax Savings= $22,00 − $7,040

= $14,960

Therefore the after-tax cost if she pays the $22,000 bill in December will be $14,960

8 0
3 years ago
Read 2 more answers
A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as p
Jet001 [13]

Answer:

Students believe that if the initiative does not happen, the funds for the initiative will not be spent elsewhere.

Explanation:

The visual appearance is both non rival and non excludable I.e. Pure public good

Benefit is 17*490=8.330

Benefit is greater than cost so college administrators should undertake the beautification initiative

7 0
3 years ago
Which career cluster did some states add to the list created by the National Association of State Directors of Career Technical
Arada [10]

Answer:

The answer is energy because when a certain career cluster is added to the National Association of State Directors of Career Technical Education Consortium, it would most likely be because there are a lot of companies that currently need professionals in that career cluster.

Due to environmental problems that are caused by the current energy source (fossil fuels), many companies put a lot of investments in pursuing new technology to replace fossil fuel as the main source of energy. (the current front runners are energy generated from solar or electricity)

Explanation:

8 0
2 years ago
Read 2 more answers
Other questions:
  • Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($500 per year), or two y
    7·1 answer
  • Read the following sentence, and determine which technique is most applicable to improve its readability.
    12·1 answer
  • Joe works for a life insurance company that funds commercial investment projects and often insures these projects by insisting o
    9·1 answer
  • A 10-year bond pays an annual coupon, its YTM is 8%, and it currently trades at a premium. Which of the following statements is
    5·1 answer
  • Sterling Corporation prepares its financial statements in accordance with IFRS. Sterling paid $10,000 of interest during the yea
    5·1 answer
  • Miranda thinks she's ready to invest in the stock market. what should she have done to prepare? she should have paid off credit
    10·2 answers
  • Assume you are given the following relationships for the Haslam Corporation: Sales/total assets 1.6 Return on assets (ROA) 3% Re
    9·1 answer
  • On January 1, Year 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annua
    12·1 answer
  • A $25,000 price tag on a new car is an example of money as
    12·1 answer
  • at the phase 3 meeting, the project manager will outline the process to . a.) transfer the deliverables into operational state a
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!