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
n200080 [17]
3 years ago
14

Item4 1 points Time Remaining 50 minutes 19 seconds00:50:19 Item 4 Time Remaining 50 minutes 19 seconds00:50:19 Chan Sports purc

hases one year of rent on November 1 for $12,000 ($1,000 per month), debiting Prepaid Rent. On December 31, Chan Sports would record the following year-end adjusting entry: Multiple Choice Rent Expense 10,000 Prepaid Rent 10,000 Rent Expense 2,000 Prepaid Rent 2,000 Rent Expense 12,000 Prepaid Rent 12,000 No entry is required on December 31 because full cash payment was made on November 1.3
Business
1 answer:
Paha777 [63]3 years ago
3 0

Answer:

Rent Expense 2,000 Prepaid Rent 2,000

Explanation:

The adjusting entry is

rent expense Dr ($1,000 × 2 months) $2,000

     To prepaid rent $2,000

(being rent expense is recorded)

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

The same should be relevant

You might be interested in
Does supply curve shift to the left or right​
erastova [34]

Answer:

An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left....

8 0
4 years ago
Read 2 more answers
Roger is new-product project manager for a medical equipment company. Recently the team has exhibited a high degree of conflict
Flauer [41]

Answer: Storming stage

               

Explanation: In simple words, it refers to the stage in which conflict between members of a group starts happening due to arise of individual personalities. This is last and most crucial stage of team development process.

In this stage the performance of team starts declining due to lack of harmony and trust among the members of the team.  In the given case, Roger's team has been facing conflict over the controlling issues ,hence, we can conclude that they are at storming stage of development.

5 0
4 years ago
BRAINLIEST
matrenka [14]
Store 
department
class
sub-class 
styles
4 0
4 years ago
When you purchase an item in a store you may be charged
labwork [276]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
When you purchase an item in a store you may be charged by Sales tax. It is <span>a tax on sales or on the receipts from sales.</span>
6 0
3 years ago
wise guys consulting receives payment in full totaling $9,000 from a client for services which were rendered and invoiced the pr
Grace [21]

The impact at the time the payment is received is a Revenue $9000 increase with credit.

Turnover is the total amount of revenue generated from the sale of goods or services related to the company's main activities. Earnings, also known as total earnings, are often referred to as the "top line" because they are at the top of the income statement.

Revenue is the total revenue generated from the sale of goods and services related to the company's main activities. Commercial income is also called sales or earnings. Some companies derive their income from interest, royalties, or other fees.

Revenue represents income from business activities and profit represents net profit after deducting expenses from income. Earnings can take many forms, including B. Sales, Commission Income, and Property Income.

The Revenue is used as an indicator of income quality. There are several financial metrics related to this. The main ones are gross margin and profit margin. Businesses also use earnings to determine the cost of bad debts using the income statement method.

Account receivable $9000 increasea  with debit

Revenue $9000 increase with credit

Learn more about Revenue here:-brainly.com/question/16232387

#SPJ4

3 0
1 year ago
Other questions:
  • Bramble Corp. purchased land as a factory site for $1350000. Bramble paid $124000 to tear down two buildings on the land. Salvag
    6·1 answer
  • Finding dominant strategies is often a very way of analyzing a game. Consider the following game: Microsoft and Apple are the tw
    7·1 answer
  • Archoid's Flowering Plants provides the following information for the month of May: Actual Budget Tulips Geraniums Tulips Gerani
    12·1 answer
  • What describes the nature of cause and effect in the context of the business cycle?
    5·1 answer
  • Activity based costing _____________
    7·1 answer
  • Meredith is a passive 30% member of the MNO LLC. She is not a managing member and she does not participate in any activities of
    10·1 answer
  • Can someone be my friend?
    14·2 answers
  • According to the Huff Gravity Model, the two factors which attract consumers to a store location are: travel time for customer t
    13·1 answer
  • Which of the following represents an opportunity for generating a new product?
    5·1 answer
  • According to the PMQ Pizza Magazine, an estimate of pizza sales in the United States for the top 100 pizza companies was $44.3 b
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!