The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
<h3>What is
adjusting entry ?</h3>
An adjusting journal entry can be described d as the entry in a company's general ledger which is been carried out at end of an accounting period in order to have the record of any unrecognized income or expenses.
It should be noted that The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
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Answer:
$26,000
Explanation:
Joy Elle’s Vegetable Market
Cash flow from Financing Activities
Issuance of Stock $50,000
Less: Repaid Note payable $22,000
Less: Paid Dividend <u>$2,000</u>
Net Cash provided by financial activities <u>$26,000</u>
-Acquired land by issuing common stock is a Non cash investing and financing activities under cash flow
-Sold a long-term investment for cash is an investing activities under cash flow
-Acquired an investment in IBM stock for cash is an Investing activities under Cash flow
Layla could be an efficient employee in reducing the defect rate in the manufacturing and engineering departments
