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
notka56 [123]
3 years ago
9

A company forgot to prepare the adjustment to record the current month’s portion of Prepaid Rent. What is the resulting impact o

n the financial statements?
Business
1 answer:
Illusion [34]3 years ago
6 0

Explanation:

The adjusted entry to record the prepaid rent is shown below:

Rent Expenses A/c Dr XXXXX

               To Prepaid rent A/c XXXXX

(Being the prepaid rent is adjusted)

Since this above adjusting entry is not passed that results the asset account overstated together with the net income is also overstated that is shown in the income statement

You might be interested in
A general partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the
azamat

Answer:

True

Explanation:

A partnership is a type of business owned by two or more individuals known as partners. The partners join forces to exploits their talents and resources and profit from the business. A partnership may comprise of general and limited /silents partners.

The general partner participates in the day to day activities of the business. He or she makes business decisions on behalf of the partnership. Because a general partner is actively involved in managing the business, he has unlimited liability to its obligations. Should the partnership fail to meet its obligation, the assets of a general partner sold to settle the debts. He or she need not have been involved in creating the liability.

5 0
3 years ago
Jack Smith and four other people own Persimmon Hill Farm, an agric-entertainment farm which provides corn mazes, bonfires, hay r
Stolb23 [73]

Answer:Corperation

Explanation: A corporation is an organization usually a group of people or a company authorized by the state to act as a single entity and recognized as such in law for certain purposes. Early incorporated entities were established by charter. Most jurisdictions now allow the creation of new corporations through registration.

7 0
3 years ago
Read 2 more answers
. Imagine that you are buying a new computer and comparing different brands and prices. List and describe two nonprice competiti
Luba_88 [7]

Popularity and warranty

5 0
4 years ago
6. What do you pay for a twelve-ounce can? What are the real social costs of producing a can of Coke – in terms of water, power
VladimirAG [237]

Answer and Explanation:

To pay for a twelve ounce can it costs between 50 cents to a dollar. The social costs of producing a can coke, in which 9 liters of fresh water is used which effects fresh water supply on earth due to its contamination. The cost of making coke :costs more higher, where it has to maintain its employees, buildings, its road transportation, garbage disposal, and many more. People who are living near the coke plant building pays all these costs, and all people pays a equal part as it is taking from earth.

4 0
3 years ago
Managing a healthcare setting today is different than it was 50 years ago. give an example of an ethical situation facing the he
mariarad [96]
I believe one of the ethical situation would be Balancing care quality and efficiency
Healthcare depended on the amount of government budget each year, which could reduce the quality of the healthcare as the budget decreased.
In order to do this, i believe the government could create a stricter criteria on using the healthcare. and give the people who don't use it with other form of welfare as compensation. By doing this, we can increse both quality and efficiency.
7 0
3 years ago
Other questions:
  • It becomes particularly urgent for a company to consider diversification when there are
    9·1 answer
  • Many phone fraud scammers are especially cunning because they approach the target to try to sell _____.
    12·2 answers
  • Jake is leaving Shoe Warehouse to open his own shoe boutique. Jake currently earns $40,000 a year at Shoe Warehouse, but he is e
    11·1 answer
  • Tickets to see Willie Nelson cost $40. On any given day, you would be willing to pay up to $50 to see and hear Willie Nelson per
    15·1 answer
  • Assume that the United States has a comparative advantage in aircraft manufacture and India has a comparative advantage in produ
    11·1 answer
  • The difference between a financial planner and a financial expert is that the expert is a professional who charges a fee.
    8·1 answer
  • The fifth step of the interview process is:
    8·1 answer
  • A local university has a goal of raising $500,000 for an escrow account. Their fund-raising committee has committed to raising $
    12·1 answer
  • Help me please.. there is no option on here for Human Resources principals, so I jus clicked business as the subject..
    15·2 answers
  • Which supply chain process focuses on the transformation of inputs into outputs?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!