Answer: The correct answer is "the informal rules of the game".
Explanation: The given scenario illustrates <u>the informal rules of the game.</u>
<u>Because despite not being an official standard, it is an informal rule that the company tends to follow because it gives good results, and is backed by the organizational culture of the company.</u>
Answer:
1.
Dec 31 Rent expense $3450 Dr
Prepaid Rent $3450 Cr
2.
Oct 1 Prepaid Rent $13800 Dr
Cash $13800 Cr
3.
Year end balances at 31 December:
Rent Expense = $3450
Prepaid Rent = $10350
Explanation:
Assumption: The year end for the business in on 31 December.
1.
The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.
2.
The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.
3.
The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450
The balance in the prepaid rent account after adjusting the rent expense will be,
Prepaid rent = 13800 - 3450 = $10350
<span>When it is reported that a nation is experiencing a "balance of payments deficit," this is best interpreted to mean that the nation is experiencing? If it is reported that the nation is experiencing a balance of payments deific, the country is importing more goods, services and capital than it is exporting. When this happens, the nation has to borrow funds and items from other countries to help pay for what they are importing until the have the cash funds to pay for them, themselves. When this starts the happen, the nation that this is hurting should try and balance their payments and monitor transactions better to eliminate this in the future. </span>
Answer:
D. Consumption by $80 billion.
Explanation:
Marginal propensity to Save = 1 / MPS
= 1 / 0.2
= 5
= $20 billion × 5
= $100 billion
= $100 - $20
= $80 billion
Therefore, a $20 billion rise in investment spending will increase consumption by $80 billion.
Applied overhead goes on the credit side of the Manufacturing overhead of $120,700 was applied to production using the company's predetermined overhead rate
