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
larisa86 [58]
3 years ago
9

Purdue Company signed a one-year lease on April 1, 2017, and paid the $45,600 total yearâs rent in advance. Purdue recorded the

transaction as a debit to Prepaid Rent and a credit to Cash. What adjusting entry should Purdue make on December 31, 2017 (no previous adjustment has been made)?
Business
1 answer:
kogti [31]3 years ago
7 0

Answer:

Rent expense debit and credit prepaid rent

Explanation:

Prepaid expense refers to those expenses that have been paid in advance before they are accrued. Some examples prepaid expenses are prepaid rent and prepaid insurance.

Prepaid expenses are debited and cash is credited at the time expenses are paid in advance. At the end of the year, adjustment entry is made when the expense expires. Following is the adjustment entry made at the end of the year:

Date                        Particulars                          Debit($)                 Credit($)

December               Rent expense                     45,600

31'2017                           Prepaid expenses                                       45,600

                                (To record expired prepaid

                                  rent)

You might be interested in
Claire is opening her first savings account with a $200 deposit. Her account pays 0.5% interest compounded monthly. How much wil
KiRa [710]
If adding

48240

If subtracting

47760
8 0
2 years ago
What is the difference between purpose and objectives in setting goals for future .​
Zarrin [17]

Answer: Purpose is something that influences goal. And objective is the specific action which one try to achieve as a short term plan.

Explanation:

6 0
3 years ago
Back2Work is considering replacing the receptionist who answers the phone with an automated answering system. Back2Work should _
aleksandr82 [10.1K]

Answer:

involve the current receptionist in the decision process.

Explanation:

When changes are to be made that will affect an employee, the best way to reduce resistance to the change is to involve the employee in the decision-making process.

By involving the employee they will get to see the benefits of the new initiative and this will also convince them that it is for the good of the business and not a ploy to replace them.

Employees have a higher buying and will drive implementation more when they were part of the process for change.

8 0
3 years ago
Read 2 more answers
Business operations Essay​
juin [17]

Answer:

The description of the given term "Business operations" is provided below.

Explanation:

  • Together with all measures essential to manage as well as generate money besides your firm, is considered as business operations.
  • Sometimes a component devoted to the industry would be included throughout the marketing strategies, enough so founding members comprehend or recognize the authoritarian leadership style, machinery, personnel, including procedures.
6 0
3 years ago
Atlas Corporation sells 100 bicycles during a month. The contribution margin per bicycle is $200. The monthly fixed expenses are
jonny [76]

Answer:

A, $12,000

Explanation:

Profit is the financial gain as a result of the difference between the selling price of a product and the cost/production cost of the product.

To calculate the profit from the sale of the bicycles, we use the formula

Profit = (marginal cost x quantity of bicycles) - Expenses.

we have,

Profit = ($200 x 100) - $8,000

Profit = $20,000 - $8,000

Profit = $12,000.

Cheers.

4 0
3 years ago
Other questions:
  • What is the answer for 7+4*3+8*(5*2)
    11·1 answer
  • Within a(n) _____, there is a level of economic integration that involves the use of a common currency, harmonization of members
    8·1 answer
  • Susan purchases and places in service property costing $1,050,000 in 2019. She wants to elect the maximum Sec. 179 deduction all
    5·1 answer
  • If you are installing an expansion card into a case that does not have enough clearance above the motherboard for the card, what
    7·1 answer
  • What’s the purpose of balancing or monitoring your checking account?
    9·1 answer
  • Personal Care Products recently introduced a new acai berry shampoo. Rinn, director of new product development, has just reviewe
    13·1 answer
  • When a sales manager determines that her staff is not making sufficient progress toward meeting monthly sales quotas and develop
    15·1 answer
  • Why do overhead costs often shift from high-volume products to low-volume products when a company switches from a conventional c
    9·1 answer
  • What is the guideline amount for an emergency fund
    15·1 answer
  • Identify and describe ten of the common and/or specialist positions a fire fighter
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!