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Iteru [2.4K]
3 years ago
14

On November 1, 2019, Peaches Consulting Service paid $4,800 for 12 months of advance rent on its office space. The correct adjus

ting entry on December 31, 2019, to show the amount of rent that had expired would include:
Business
1 answer:
igor_vitrenko [27]3 years ago
5 0

Answer:

Debit Rent expense $800

Credit Prepaid rent  $800

Explanation:

When rent is paid in advance, an asset is reduced while another is increased. The entries required are debit to prepaid rent and a credit to cash account. As the rent expires, the expense is recognized by debiting rent expense and crediting prepaid rents.

Rent expense as at 31 December 2019

= 2/12 * $4,800

= $800

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Increase the promotion budget to gain greater awareness

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  • Coat's manager continues to perform well in the market competing product as strong and is looking to take over the market share leader in segment.
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3 years ago
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the fol
masha68 [24]

Answer: purchase foreign currency in order to purchase a U.S. treasury bond.

Explanation:

Currency convertibility has to do with the degree in which the domestic currency of a particular country can be converted into the currency of another country.

Therefore, a citizen in a developing country with a currency policy of convertibility on the current account could engage in the purchase foreign currency in order to purchase a U.S. treasury bond.

3 0
3 years ago
Your phone service provider offers a plan that is classified as a mixed cost. The cost per month is $50 flat rate for the first
fomenos

Answer:

$120

Explanation:

The computation of the cost is shown below:

= Cost per month flat for 1,000 units + extra cost if exceeded 1,000 minutes

where,

Cost per month flat for 1,000 units = $50

And, the extra cost is

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The 200 minutes is come from

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4 0
3 years ago
_____ is abroad declaration of an organization's purpose that identifies the organization's products and customers and distingui
fgiga [73]
A mission is abroad declaration of an organization's purpose that identifies the organization's products and customers and distinguishes the organization from its competitors.

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3 years ago
Which has more elastic Supply in the short run, ice cream or oranges?
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3 years ago
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