Answer: $324,000
Explanation:
Cedar Corp. paid $432,000 for a year in advance. According to the Accrual principle in Accounting, expenses are to be recorded only when incurred.
The rent will therefore have to be apportioned to the months that it has paid for in the current period.
Rent for year = $432,000
Rent for month = 432,000/12 = $36,000
April - December = 9 months
Rent for the year = 9 * 36,000
= $324,000
Note; <em>Question is about Rent expense which is how much Cedar Corp has paid not about how much they have received. </em>
Answer:
The insurance expense to be recorded for period ended 31 January 2013 is $900
The insurance expense to be recorded for period ended 31 January 2014 is $1200
Explanation:
From the date of insurance premium payment till 31 January 2013 gives a period of nine months, which means that nine months of insurance premium should be recognized as expense in that period.
January 31 2013 insurance expense=$2400*9/12
=$900
From February 1 2013 till January 31 2014, gives a complete year, which means 12-month insurance premium should be recognized in that period,hence the below calculation:
January 31 2014 insurance expense=$2400*12/24
=$1200
Answer: Ordinary income tax on earnings exceeding basis.
Explanation:
From the question, we are informed that a 60-year-old customer purchases a nonqualified variable annuity and withdraws some of her funds before the contract is annuitized.
The consequences of this action is that Ordinary income tax on earnings exceeding basis. It should be note that the distributions from a nonqualified plan had to do with return on original investment and income from the investment. Since there's defer of the income, it'll be taxable as an ordinary income.
Answer:
When measuring burns in adults, the rule of nines assesses the percentage of burn and is used to help guide treatment decisions including fluid resuscitation and becomes part of the guidelines to determine transfer to a burn unit.
Explanation:
<em>The transfer to the burn unit.</em>
Answer:
ur mom ur dad and........STEP BRO
Explanation:
It is a summary of debit and credit balances which are extracted from various ledger accounts.
It is a summary of debit and credit balances.
The motive behind the preparation of Trial balance is to establish arithmetical accuracy of the transactions recorded in the Books of Accounts.
