Answer:
Consumers help determine what goods and services will be produced through their purchasing decisions. I think :)
Explanation:
Answer:
a)
Rent Expense Dr.$16,000
Bank Dr.$48,000
Prepaid Rent Cr.$64,000
Explanation:
The company entered into lease on 1st November 2019 with rent of $8,000 per month. the company on 1st November 2019 recorded prepaid rent as follows; which is wrong
Prepaid Rent Dr. $72,000
Bank Cr. $72,000
This is wrong entry as prepaid rent was overstated by ($72,000-$24,000 ) $48,000 and same like bank was understated by $48,000
The correct entry should have been like this as on 1st November 2019;
Prepaid Rent Dr. $24,000
Bank Cr. $ 24,000
By 31st December 2019, two months rent have already accrued so prepaid rent should be credited by (8000*2+48,000 for additional amount recorded)
<em>So the rectifying entry is; as on 31st December 2019</em>
<em>Rent Expense Dr.$16,000</em>
<em>Bank Dr.$48,000</em>
<em>Prepaid Rent Cr.$64,000</em>
The resource based model.
The resource based approach says organizations should look inside their company for sources of improvement and competitive advantage rather than looking outside to their environment (such as their industry).
Answer:
$172,000
Explanation:
Calculation for what Andrea's 2020 gross income from the above is:
Using this formula
2020 gross income=Punitive damages+ Medical expenses deducted
2020 gross income=$160,000+$12,000
2020 gross income=$172,000
Therefore Andrea's 2020 gross income from the above is: $172,000
