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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

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Employees often work with managers to develop a(n) __________ that outlines the fundamental purposes of their organization.a. or
Levart [38]

Answer: (C) Mission statement

Explanation:

 Mission statement is one of the type of organization statement that is developed by the manager for the various types of fundamental purpose in an organization.

The primary objective of the mission statement in an organization is that it deals with the strategic planning by achieving long term goals.

According to the question, the employees worked with the manager in an organization for developing the mission statement that helps in outline the various types of fundamental process.    

 Therefore, Option (C) is correct.

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3 years ago
Savings accounts are usually not the best option when it comes to saving for retirement. Why? Most savings accounts do not pay e
densk [106]

The answer is B, tho I could also understand C, I am pretty sure it’s B.

4 0
3 years ago
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Lorico [155]

Answer:

The correct answer would be Access to more Capital.

Explanation:

A Public corporation or the public company is an entity what has many stock holder which include the general public as well. The liabilities of the company are separated from the stock holders. It is an entity whose shares are listed on the stock exchange to be traded by the people.

The main advantage of the Public Corporations is the access of more capital. As general public buy stocks or shares of the company, they are basically investing their money in the corporation, which increases the capital held by the company.

Public corporations are open for the general public.

8 0
3 years ago
Veronica lives in a cold climate where ice, snow, and freezing temperatures are common during the winter months. Unlike other em
sergiy2304 [10]

Answer:

C. Dependable.

Explanation:

Veronica is showing that she is dependable as she never misses a day of work, even though she lives in a cold climate where ice, snow and freezing temperature are common, which shows that she is reliable and committed towards her work. An employer can trust employees like her in assigning some of very important task or role, which is time-bound and require commitment. There are two characteristics of a dependable person is honesty and reliability, the reliable employee is the one who is committed.

8 0
4 years ago
Packard Corporation reported pretax book income of $500,000. Included in the computation were favorable temporary differences of
melomori [17]

Answer:

The corporation's current income tax expense or benefit would be $170100.

Explanation:

income tax expense or benefit = $500,000 + $100,000 - $10,000 -$80,000)*21%

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Therefore, the corporation's current income tax expense or benefit would be $170100.

3 0
3 years ago
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