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natita [175]
3 years ago
10

On November 1, 2019, Wenger Co. paid its landlord $4,140 in cash as an advance rent payment on its store location. The six-month

lease period ends on April 30, 2020, at which time the contract may be renewed. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2016.
Business
1 answer:
arsen [322]3 years ago
3 0

Answer:

Assets

Cash: -$4,140

Prepaid Rent: $4,140

Explanation:

given data

paid  landlord = $4,140

time = 6 month

to find out

horizontal model to record the six-month advance rent payment on November 1, 2016

solution

we get here  6 month advance rent payment on November 1, 2016 that is as

date                          title                                   Debit     Credit

November 1,2016      Prepaid Rent                 4140  

                                  Cash                                                  4140

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On January 1, 2021, Consolidated Company purchased 100% of the common stock Avergy Industries for $720,000. On that date, Avergy
Dahasolnce [82]

Answer:

b. $ 50,000

Explanation:

Investment cost                    

720000

Book value of net asset

100000

420000

--------------

520000

Excess

200000

Allocated as follows

Land and equipment                              50000

overvaluation of bonds payable            40000

Undervaluation of inventory                    60000

Total                                                          150000

Un allocated amount    

Goodwill                                                    50000

Total                                                        200000

4 0
3 years ago
Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
faltersainse [42]
I would say that it is a CHECKING ACCOUNT. The answer for this would be option A. This type of account can be accessed anytime which makes its liquidity very high, but on the other side, this has very low interest and the minimum balance required is also low. Hope this helps.
7 0
3 years ago
The following U.S. Treasury bond is listed in the The Wall Street Journal: Rate Mo/Yr Bid Asked 9.50 Oct 38 135:30 136:04 This $
STatiana [176]

Answer:

6.35%

Explanation:

If you purchase this bond you will need to pay $1,000 x 136.04% = $1,360.40

the coupon rate is 9.5% / 2 = 4.75% or $47.50 every six months

the bond matures in 18 years or 36 semiannual periods

yield to maturity = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]

YTM = {47.5 + [(1,000 - 1,360.4)/36]} / [(1,000 + 1,360.4)/2]

YTM = 37.49 / 1,180.2 = 0.031766 x 2 (annual yield) = 0.06353 = 6.35%

8 0
4 years ago
Suppose that consumer income increases and that ground meat is an inferior good. Which of the following will occur in the market
antoniya [11.8K]

Answer:

d. Market clearing price will fall, and equilibrium quantity will fall.

Explanation:

Inferior goods are those goods which do not behave normally to market.

As with increase in consumer spending capacity, their demand decreases.

Accordingly with decrease in demand , the prices will fall.

Thus, either Statement b is correct or statement d.

Since demand and price both tend to fall, the equilibrium quantity will fall for the same, as the demand will be low, the equilibrium quantity will fall to meet the demand level.

Thus, Statement D is correct.

4 0
3 years ago
Why would expanding the nation’s communications network be considered an increase in wealth, while improving the education of it
larisa86 [58]
To be honest i think that it is because the internet contains everythingnyou need to know. And it is also much more easy to use. Hope this helps!
4 0
4 years ago
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