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>
Answer: Production orientation
Explanation: It refers to a strategy when the company focuses only to provide the best quality product in the market without taking into consideration the preference of the customers.
In the given case, Steel makers are focusing on making their business process the best in market so that they can gain a competitive advantage.
Thus, from the above we can conclude that the correct option is C.
An outstanding balance on your account
Based on the situation described in the question, the IoT technology that the company should choose to ensure the highest degree of security is "<u>Azure Sphere."</u>
This is because Azure Sphere is the operating system that Microsoft designs to ensure the dealers of Internet of Things devices increase their security by incorporating a specific system on a chip.
Azure Sphere is known for its protection, high-level application functionalities, and well built-in communication and security traits for internet-connected devices.
Hence, in this case, it is concluded that the correct answer is "<u>Azure Sphere</u>."
Learn more here: brainly.com/question/22977393
Answer:
HAZARD INSURANCE is included as part of a fixed expense in the calculation of net operating income(also ppty taxes).
Explanation:
Mortgage payments are not considered as opex because they are not directly associated with the maintenance and operation of the property.
Hazard insurance is coverage that protects a property owner against damage caused by fires, severe storms, earthquakes, or other natural events. As long as the specific weather event is covered within the policy, the property owner will receive compensation to cover the cost of any damage incurred. Typically, the property owner will be required to pay for a year's worth of premiums at the time of closing, but this will depend on the exact details of the policy.