Answers A and E seem correct. B makes no sense. C makes no sense. and my renters insurance was very cheap vs property insurance.
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
The best contraceptive for them to use is condom.
The use of condom will protect them to some extent from all types of sexually transmitted diseases and the method does not have any side effect. The only disadvantage that is attached to it is that, the condom may break if not properly inserted or if it has expired.
The largest amount of money the government lays out is for the transfer program, Social Security. And its largest expenditure is for national defense. America is quite known for spending a lot of money on defending itself from any possible threat.
Answer:
"$1,673,750" is the appropriate answer.
Explanation:
The given values in the question are:
Applied overhead,
= $666,250
Actual overhead,
= $650,000
Unadjusted cost,
= $1,690,000
Now,
The overapplied overhead will be:
= 
= 
= 
($)
hence,
The goods sold's adjusted cost will be:
= 
= 
= 
($)
