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
Greeley [361]
2 years ago
13

On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 per month. Under the lease ter

ms, Carlos pays 18 months’ rent ($18,000) in advance on December 1. How much can Carlos deduct for rent in 2021?
a. $12,000
b. $18,000
c. $1,000
d. $13,000
Business
1 answer:
kipiarov [429]2 years ago
5 0

The amount that Carlos can deduct for rent in the year 2021, based on his annual rent is <u>c.$1,000.</u>

<h3>Rent in 2021</h3>

When recording rent, you can only record it for the period that the financial statement is for.

The rent given is for 18 months from December 2021 which means that it will be for only a single month in December.

The rent will therefore be a rental amount for a month:

= Rental amount / Number of months

= $18,000 / 18

= $1,000

In conclusion, option C is correct.

Find out more on prepaid rent at brainly.com/question/1079277.

You might be interested in
In a perfectly competitive market in the long run, after all adjustments have occurred, an increase in demand causes equilibrium
Gemiola [76]
Spike before falling to the equilibrium level
4 0
3 years ago
A real estate agent is considering changing her cell phone plan. There are three plans to choose from, all of which involve a mo
Anni [7]

Answer:

req 1)

Plan A

0.42 x 150 + 0.17 x 70 = 74.9

Plan B

0.52 x 150 + 0.15 x 70 = 88.5

Plan C  $80

req 2)

from 0 to 190 minutes Plan A

from 191 and beyond Plan C

req 3)

the proportion should be 1/6 daycalls and 5/6 evenings

Explanation:

150 day calls

70 minutes evening calls

Plan A

0.42 x 150 + 0.17 x 70 = 74.9

Plan B

0.52 x 150 + 0.15 x 70 = 88.5

Plan C  $80

2) A will be preferable to B as it has the lower cost

now at some point C will be better as the cost is a flat rate

80 dollars / 0.42 per minute = 190.47

3) 0.42X + 0.17Y = 0.52X + 0.15Y

a minute of daycall is 10 cent higher in plan B

while a minute of evening call is 2 cent lower

thus, to balance there was to be 5 times more evening call than day times:

1:5 1 + 5 = 6

the proportion should be 1/6 daycalls and 5/6 evenings

8 0
3 years ago
Describe what a petty cash fund is by completing the following sentence. A petty cash fund is used for (large/small) payments in
exis [7]

A petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

<h3>What is petty cash?</h3>

A petty cash fund is a small amount of cash, used to pay for minor expenses, such as office supplies or employee reimbursements.

It is the pet a actual ledger book, rather than a computer record.

Hence, a petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

Learn more about petty cash here : brainly.com/question/6893535

#SPJ1

4 0
2 years ago
Most global firms find it is better to have expatriates rather than local staff at the management positions of their foreign ope
pshichka [43]

Answer:A True most global firms find it is better to have expatriates rather than local staff at management positions to their foreign operations because expatriates require less training and development.

8 0
3 years ago
Marketing logistics includes all of the following EXCEPT ________. reverse logistics inbound logistics producer-centered logisti
Nana76 [90]

Answer:

producer-centered logistics

Explanation:

When it comes to marketing, <u>consumers and customers always come first</u>. There isn't such thing as producer-centered logistics (<u>not that i know of at least</u>) because the producers need to focus on the business and customers not themselves.

8 0
3 years ago
Other questions:
  • Your division has been asked to compile a recommendation for the price point for an innovative software application. You need to
    13·1 answer
  • joes shoe shop raises prices from the equilibrium price of $40 a pair to its new price of $60 a pair.
    12·2 answers
  • A company has a net sales of 847000 and cost of goods sold of 561500. Its net income is 101200. The company's gross margin and o
    6·1 answer
  • Eric was in the store and started looking at riding lawn mowers. He didn't come to this store for the purpose of purchasing one,
    13·1 answer
  • Suppose the demand for Digital Video Recorders (DVRs) is given by Q = 250 - .25p + 4pc, where Q is the quantity of DVRs demanded
    15·1 answer
  • Becker and Murphy wrote their article before DVR systems and online streaming services became popular. Nowadays, ads on televisi
    6·1 answer
  • In your own understanding, compare and contrast "business markets versus consumer-goods markets."​
    11·1 answer
  • Baskin-Robbins is one of the world’s largest specialty ice cream shops. The company offers dozens of different flavors, from Ver
    6·1 answer
  • A company makes travel umbrellas. Its fixed costs are $1000 a week and its variable costs for one batch of umbrellas are $500 fo
    8·1 answer
  • if a firm is operating at the point of tangency between an isoquant and an isocost line, its production is:
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!