Answer:
The amount of rent expense that will be reported on the Year 1 income statement is $1,800
.
The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $5,400.
Explanation:
Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.
The duration of the payment is 12 months, hence
Monthly amortization = $7,200/12 = $600
Rent expense for year 1 = $600 × 3 = $1,800
The ending balance in the prepaid rent account will be
= $7,200 - $1,800
= $5,400
This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.
Answer:
Monthly interest rate = 2.16666667%
Explanation:
Given:
Annual percentage rate = 26% = 26 / 100 = 0.26
Total number of months in a year = 12 month
Monthly interest rate = ?
Computation of monthly interest rate :
Monthly interest rate = Annual percentage rate / Total number of months in a year
Monthly interest rate = 0.26 / 12
Monthly interest rate = 0.0216666667
Monthly interest rate = 2.16666667%
Answer:
The answer is B. Disciplining, promoting, transferring, and demoting.
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Answer:
because America coins and Canada coins is same
Explanation:
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