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
Child, family, and school social workers influence conditions _____.
Anastaziya [24]

Answer:

in all communities

Hope that helps!

5 0
3 years ago
Read 2 more answers
Studying business ethics will not necessarily
Serga [27]

Business ethics will never tell you exactly what to do in all decisions. The study of business ethics is designed to help you understand the importance of your decisions, inform you of impacts, describe the ethical decision-making process, and help you recognize ethical issues, but it will not tell you what to do. It will simply give you the tools necessary to make a decision.

7 0
3 years ago
When the price of an inferior good​ falls, the substitution effect leads to​ ________ in the quantity purchased and the income e
hammer [34]
When the price of an inferior good falls, the substitution effect leads to an increase in the quantity purchased and the income effect leads to a decrease in the quantity purchased. 

An inferior good is something consumers would purchase only if they had more income so if the price falls, customers are able to afford to use this product as a substitute to an item of lower price that they currently purchase. 
4 0
3 years ago
4. if you have two children, ages 2 and 4, how much should you record in step 3 of the form? (3 points)
Minchanka [31]

Based on the information provided, you should record two (2) dependents in Step 3 of the W-4 form.

<h3>What is a W-4 form?</h3>

A W-4 form simply refers to an internal revenue service (IRS) tax form which is used in the United States of America, so as to indicate the correct federal income tax that should be withheld from an employee's paycheck.

In Step 3 of the W-4 form, an employee is expected to indicate whether or not he or she has dependents. Thus, an employee would write (record) the number of dependents he or she has in Step 3 of the W-4 form.

In this scenario, we can logically conclude that you should record two (2) dependents in Step 3 of the W-4 form because you've two (2) children, aged 2 and 4.

Read more on W-4 form here: brainly.com/question/15507745

#SPJ1

4 0
2 years ago
Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor? check a
Schach [20]
<span>paying higher wages increases worker turnover YOUR ANSWER

</span>
<span>higher wages attract a more competent pool of workers YOUR ANSWER

the rest really do not apply.
</span>
6 0
3 years ago
Other questions:
  • Martha Beyerlein Company incurred $150,000 of research and development costs in its laboratory to develop a patent granted on Ja
    11·1 answer
  • Why is vocabulary important?<br> What is Promotion?<br> Why is Promotion important in marketing?
    11·1 answer
  • Flint Corporation issued 700 shares of no-par common stock for $7,800. Prepare Flint’s journal entry if (a) the stock has no sta
    15·2 answers
  • Ahmad bought a desktop computer and a laptop computer. Before finance charges, the laptop cost less than the desktop. He paid fo
    12·2 answers
  • Prior to the launch of its financial service, Mint made extensive use of ______ which helped search engines view this business a
    5·1 answer
  • Risk is best thought of as the potential for variability in the investment’s outcomes. This means that if an investment has the
    15·1 answer
  • Mr. Buffett says the kinds of bad qualities some people show are qualities that no
    8·1 answer
  • Assume the manager is located at point B in the diagram above, and he is charging a price of P0. What does the demand for the fi
    10·1 answer
  • Decades ago, developing and implementing the "right" marketing strategy was all about _________________ . In today's economy, ho
    11·1 answer
  • If a good is normal, then a decrease in price will cause a substitution effect that is?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!