Answer:
Dr Unearned revenue, $20,000
Cr Revenue, $20,000
Explanation:
Based On the information given if on June 30, the company paid Denver Insurance Company the amount of $40,000 for one year’s worth of insurance. Which means that adjusting entry that should be recorded by Denver Insurance Company on December 31 will be
Dr Unearned revenue, $20,000
Cr Revenue, $20,000
($40,000*6/12)
Answer:
checking one's financial records against the bank’s
Explanation:
Reconciling an account is the regular confirmation that the reported balances are accurate. It involves checking one's account against bank balances to ensure the figures are tallying. Reconciling may require making adjustments to capture omitted transactions and charges. In practice, reconciliation involves comparing one financial records against the bank statement.
Answer:
Cash flow will be $12750
So option (B) will be correct answer
Explanation:
We have given return on equity = 15 % = 0.15
Total equity = $85000
We have to find the cash flow
Equity is given by
So
So cash flow will be equal to $12750
So option (B) will be correct option
Social security number. SSN
<span>Out of the prepaid rent of $2800, $700, the actual rent for the month of January, has to be debited to rent account and prepaid rent account will be credited. Now the prepaid rent account will show a smaller figure(2800-700 = 2100) This is the amount that will be shown in the prepaid rent account in the balance sheet. Of course it will be shown as an asset since it has a debit balance.</span>