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solniwko [45]
3 years ago
14

On July 1 the FISHER Shoe Store paid 15,000 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the

full amount. The financial statement prepared on July 31 should adjust:
Business
1 answer:
spin [16.1K]3 years ago
7 0

Answer and Explanation:

The adjusting entry is as followS:

Rent expense $2,500

      To Prepaid rent $2,500

(Being rent expense is recorded)

Here the rent expense is debited as it increased the expenses and credited the prepaid rent as it decreased the assets

The rent for one month is

= $15,000 ÷ 6 months × 1 month

= $2,500

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ElenaW [278]

Every Credit user is entitled to a free credit report every 12 months (1 years) from either of Equifax, Experian, or TransUnion.

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The maintained historical credit information helps in preparation of the credit report and score of all individuals and businesses in United states..

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7 0
2 years ago
Tristan transfers property with a tax basis of $1,245 and a fair market value of $1,750 to a corporation in exchange for stock w
Bas_tet [7]

Answer: $1644

Explanation:

The corporation's tax basis will be the addition of the tax basis of Tristan and the gain that is recognized on the exchange by Tristan.

Gain realized = 1750 - 1245 = 505

Boot received = 399

The gain recognized on the exchange will the value that's lower between the gain realized which is $505 and the boot received which is $399. Therefore, gain recognized = $399.

The corporation's tax basis will then be:

= Tristan Tax basis + Gain recognized

= 1245 + 399

= 1644

6 0
3 years ago
Marcia tends to avoid traditional brainstorming with her six-person team because it usually results in one or two people monopol
Marta_Voda [28]

Answer:

Brainwriting

Explanation:

Brainwriting is a way of getting ideas from each individual participants in a team or group. This method involves the members of the team writing the ideas that each one of them have in papers instead of verbally contributing their ideas.

That way, the members of the team can all contribute to the brainstorming session as coordinated by the team leader.

In the case of Marcia, she also requires her team members to contribute ideas individually so that each idea is read out one after the other and analyzed. That way, every member of the team is involved rather than two or three people controlling the session.

Cheers

7 0
3 years ago
Read 2 more answers
A decision to position the product on high-performance quality will mean that the ________. marketer must boost derived demand i
Virty [35]
<span>A decision to position the product on high-performance quality will mean that the seller must charge a higher price to cover higher costs.

When a company uses higher quality products to market their product as high-performance quality it means that the product will cost more to make and will sell for a higher price. The company has to cover all of their costs and one way to do that is to make sure their price point is set correctly. 
</span>
3 0
3 years ago
You are 40 years old. Your investment portfolio currently consists of: (1) a savings account, with a $16,000 balance, (2) certif
murzikaleks [220]

Answer:

Option C is correct one.

<u>The investment strategy is conservative. </u>

Explanation:

This is so because most of the money is either in cash or certificates of deposits. Portfolio also consists 40% of bonds with 6% interest rate and 40% equities are also only of the employer's stock. The rate of appreciation and dividend is also very low on this stock. Hence due to all these factors we can say the strategy is conservative.

8 0
3 years ago
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