To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for;
- Rent expense is debited, prepaid rent is credited
<h3>Prepaid rent account</h3>
A prepaid rent account simply a current asset account that's responsible for reporting the amount of future rent expense that was paid in advance of the rental period.
On this note, the amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.
Read more on prepaid rent account;
brainly.com/question/1202504
Answer:
is there an image that shows the amount of $
Explanation:
can't solve without knowing the amount sorry
Answer:
$40 million
Explanation:
The computation of stock price is shown below:-
For computing the stock price first we need to compute the firm value which is below:-
Firm value = Free cash flow-1 ÷ (Weighted average cost of capital - Growth rate)
= $70.0 million ÷ (10% - 5%)
= $70.0 million ÷ 5%
= $1,400 million
Stock price = (Firm value - Debt) ÷ Number of shares
= ($1,400 million - $200 million) ÷ 30 million
= $1,200 million ÷ 30 million
= $40 million
The purchases discount account or discounts received account.
Answer:
d) credit to Paid-in Capital from Treasury Stock for $30,000
Explanation:
The entry for profit in sale of treasury stock is as computed below
Account Details Debit Credit
Cash (5000*20) $100,000
To treasury stock (5000*14) $70,000
To Additional paid in capital (5000*6) $30,000
