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
zvonat [6]
3 years ago
14

On November 1, 20X1, Starbucks paid the rent of $90,000 for 40 of its stores in Colorado and Nebraska. The rent covers the perio

d, November 1, 20X1 through March 31, 20X2. Assuming that Starbucks prepares quarterly financial statements, how much rent expense does Starbucks record on (i) November 1 and (ii) December 31?
Business
1 answer:
vazorg [7]3 years ago
8 0

Answer:

Part (1) November 1

The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:

Dr Rental Advances $90,000

Cr        Bank account             $90,000

Part (2) December 31

On this date, some of the rental advances paid would be realized as expenses from the period November 1, 20X1 to December 31, 20X2.

This time duration constitutes to 2 months and the rental advance made on November were for five months. Out of these 5 months, 2 months share must be recognized as expense which is

The relevant entry would be:

Dr Rental Expenses $36,000

Cr                Rental Advances $36,000

You might be interested in
In a reinforcement type of situation, program plans are initiated to preserve and develop customer or public support.
Paladinen [302]
The answer to the statement above is TRUE. Program plans in a reinforcement type of reinforcement usually aim in the preservation and development of support for the public. The purpose of reinforcement here is to maintain public confidence. What is done in reinforcement is that the established organizational policy are being reiterated for the preservation of the good of the public.
3 0
3 years ago
During the agricultural revolution, the enclosure movement caused many former serfs to move to cities in search of work and led
netineya [11]
During the agricultural revolution, the enclosure movement caused many former serfs to move to cities in search of work and led to the rise of both the city and wage system
<span>The enclosure movement was legal movement and process in England of consolidating small landholdings into larger farms. Having larger farms resulted in bigger wages.</span>
8 0
4 years ago
Factoring service means:
Maksim231197 [3]
D) all of these...............
3 0
3 years ago
What makes the managerial task of executing strategy so challenging and demanding is the trial-and-error experimentation that is
Arturiano [62]

Answer:

The demanding people-management skills required, the resistance to change that has to be overcome, and the perseverance necessary to get a variety of initiatives launched and kept moving along.

Explanation:

What makes the managerial task of executing strategy so challenging and demanding is the demanding people-management skills required, the resistance to change that has to be overcome, and the perseverance necessary to get a variety of initiatives launched and kept moving along.

Change management s one of the most difficult tasks of strategic management because employees of the organisation and even some of the managers are opposed to change. They themselves become change barriers that stops the organization from advancing.

3 0
4 years ago
Americans value promptness in business meetings, while it is common in Mexico and Spain for a meeting to start thirty minutes la
Kruka [31]

This promptness in business meetings exemplifies how the perceptions of <u>time </u>differ among nations.

<h3>What is the promptness in business meetings?</h3>

Promptness in business meetings is defined as a habit or characteristic of getting to business meetings earlier than the scheduled time to avoid any delay or unforeseen circumstances.

Americans value promptness in business meetings because it shows how punctual you're and how you'll be when delivering assignments and projects.

  • However, it is common in Mexico and Spain for a meeting to start thirty minutes late.

This signifies how the perception of <u>time </u>differs among nations where time is being valued differently.

Learn more about business meetings here:

brainly.com/question/4472314

8 0
2 years ago
Other questions:
  • "how the actions of individuals and firms interact to produce a particular economy-wide level of performance is the focus of":
    5·1 answer
  • As Quentin checks out of a hotel, he recalls the expectations of quality and service he had upon arriving at the hotel and reali
    10·1 answer
  • Blue Spruce Corp. sells equipment on September 30, 2019, for $17,600 cash. The equipment originally cost $72,700 and as of Janua
    7·1 answer
  • While similar in some respects, the key difference between panel data and pooled cross-sectional data is that panel data consist
    8·1 answer
  • Which of the following represents a market failure?
    10·1 answer
  • Three $1,000 face value, 10-year, noncallable, bonds have the same amount of risk, hence their YTMs are equal. Bond 8 has an 8%
    9·2 answers
  • A waitress assumes a group of poorly dressed customers to be ungenerous tippers. She doesn't pay much attention to them during t
    11·1 answer
  • The principal-agent problem arises when ________.
    7·1 answer
  • The __________ perspective of management, which emerged from the Industrial Revolution, focuses on improving the efficiency, pro
    8·1 answer
  • At the beginning of the current year, Trenton Company's total assets were $274,000 and its total liabilities were $188,000. Duri
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!