Williams Enterprises prepaid four months of office rent totaling $2400 on October 1,2019. what would be the adjusting entry on December 31, 2019? Debit Rent Expense and credit Cash for $8400
Debit Prepaid Rent and credit Cash for $2400
Debit Cash and credit Unearned Rent for $8400 Debit Rent Expense and credit Prepaid Rent for $1800
Answers
The adjusting entry on December 31, 2019. Debit Rent Expense $800; Credit Prepaid Rent $800.
The adjusting entry on December 31, 2019 for Williams Enterprises, which prepaid four months of office rent totaling $2400 on October 1, 2019, would be:
Debit Rent Expense $800
Credit Prepaid Rent $800
The reason for this entry is that as of December 31, 2019, Williams Enterprises has used up three months of the prepaid rent, leaving one month of prepaid rent that has not yet been used. Therefore, the amount of prepaid rent that has been used up is $2400/4 = $600 per month, and the amount of prepaid rent that has not yet been used is $600. The adjusting entry reduces the Prepaid Rent account by $800 (the amount of prepaid rent that has been used up) and increases the Rent Expense account by the same amount.
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Related Questions
multiple choice-- economics
You are interested in becoming a business owner. You want the freedom to be your own boss but do not want to deal with all of the stress that comes with starting a new business. What type of business ownership makes the most sense for you? >>
Partnership
Franchise
Corporation
Sole proprietorship
Answers
Answer:
A partnership.
Explanation:
In a partnership you are a part owner of a business, but you share responsibility.
What does indigenous technology mean?
Answers
Answer: I hope this is helpful mark brainlist if right then no if wrong
Explanation:
Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.Technologies employed by the native inhabitants of a country and which constitute an important part of its cultural heritage and should therefore be protected against exploitation by industrialized countries; the problem of indigenous knowledge has been discussed during the Rio Conference but it does not receive much ...Types of indigenous technology in India are; (i) Generic Drugs. (ii) Thorium based Nuclear Reactors. (iii) Plastic RoadsIndigenous Technology is created within a sensory environment that builds on our sense of relationship, meaning, balance, feeling, memory and place as well as sight, sound, smell, taste and touchIndigenization is the process by which Indigenous ways of knowing, being, doing and relating are incorporated into educational, organizational, cultural and social structures of the institution.One example of Indigenous Technologies in action today can be witnessed in differential approaches to medicine. Medical technologies in the Western Scientific sense of the term might conjure images of biomedical research labs, electromagnetic monitors or imaging systems such as CT or MRI scans.Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.
What role do sources play in validating an argument? Are we able to rely on the internet to provide complete and truthful information? Of course not, but how do we discern? How do we determine the motives of the people we're reading? One thing we have learned is that the people screaming most loudly about dishonesty are the ones being most dishonest. That isn't by accident. So, what do you do? And how does that apply to this week's content?
Answers
Incomplete question. However, I answered from a general research perspective.
Explanation:
What role do sources play in validating an argument?
Well, the term source basically refers to the originator of any information. We have sources that are considered credible sources (like Encyclopedia, Journal Magazine, Newspaper, etc) and others that are considered incredible sources (general social media post). Knowing the kind of source could thus help validate an argument.
Relying on the internet to provide complete and truthful information is difficult considering the amount of fake news available today.
what would cause a bank statement not to agree with the cash balance in the accounting records?
Answers
Check printing fees and bank servicing fees. the company's books include mistakes. Charges and deposits made electronically that show up on a bank statement but have not yet been entered into the company's records.
What conditions prevent the cash book and bank statement from agreeing?Errors Made by the Bank When Recording Transactions The bank may occasionally make mistakes as well, such as leaving out or incorrectly recording transactions involving deposited checks, etc.
Why does the cash balance in the general ledger differ from the sum on the bank statement?These deposits, also known as deposits in transit, result in an understatement of the company's actual cash balance on the bank account. Because deposits in transit have already been recorded as cash revenues in the company's accounts.
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Answer:
- Deposits outstanding that been recorded on the company’s records, but not on the bank’s.
- The bank made an error recording a deposit made by the company
- The company made an error in recording a deposit
- the bank paid interest that the company has not recorded
Explanation:
What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answers
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
Question 10 of 20
What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers,
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers
D. A market economy is determined by consumers and a command
economy is determined by central authority,
Answers
Violet, William, and Xavier are partners in a partnership that sells medical devices. Violet and William each contributed $100,000 to the partnership. Xavier contributed $300,000 to the partnership. The partners vote on whether or not to purchase a new $100 machine. Violet and William support the purchase. Xavier opposes the purchase. Unless the partnership agreement states otherwise, the partnership will a. not purchase the machine because partnership decisions in management matters always require a unanimous vote b. purchase the machine because the support of one partner is required for the partnership to commit itself to a given action c. not purchase the machine because Xavier's interest in the partnership exceeds the interest of Violet and William combined d. purchase the machine because each partner has one vote in management matters
Answers
Answer:
d. purchase the machine because each partner has one vote in management matters
Explanation:
Since in the question it is mentioned that the partners vote whether or not to buy a new machine for $100 so the violet and William would agree on this but Xavier does not agree
Now according to this situation the machine should be purchased as each partner vote is necessary also there is a majority of 2 person to buy the machine
hence, the option d is correct
Specialty Products Company has a high turnover rate among its employees, especially those
who are young parents. Solution to this problem
Answers
The company has to first investigate the reason why young parents are leaving the company. This is the first step towards resolving the issues of high turnover.
If it is because of the inability to care for their kids while at work, then the company can solve this problem by:
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
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"Project manage implementation " is included under which of following steps establishing a retrieval service? Select one: a. Design b. Analysis c. Development d. Implementation
Answers
The phrase "Project manage implementation" is included under the step of Implementation when establishing a retrieval service.
The term "project manage implementation" refers to the process of overseeing and coordinating the execution and deployment of a project. It involves managing the activities, resources, timelines, and deliverables necessary for successful implementation. In the context of establishing a retrieval service, project management implementation would involve organizing and leading the efforts to bring the retrieval service from the planning and development stage to actual implementation.
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When using the marketing strategy planning process, what part of the process should be implemented last?
Answers
Answer:
summary
process should be implemented last
If households, businesses, and government buy more than businesses have produced, O a. there will be a decrease in total output. O b. the economy is in equilibrium. O c. total expenditures are greater than total production. d. there will be an increase in inventory.
Answers
Option (C), If households, businesses, and government buy more than businesses have produced, then the total expenditures are greater than total production.
When the total expenditure is greater than the total production, it leads to a situation of overspending. Households, businesses, and government can spend only the amount that is available. But when they spend more than what is available, it creates an imbalance in the economy. It means that there is not enough production to support the level of spending that is taking place.
As a result, businesses would have to increase their production to meet the rising demand. This can be achieved by using existing inventories or increasing their capacity to produce. However, if businesses are unable to do so, then the economy would experience a decline in output. Therefore, the correct answer is C. Total expenditures are greater than total production.
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The computer accessories that Javier is making and
selling are bringing in a substantial amount of money
for him. Inspired by this success, he decides to hire two
people and expand his business.
A.international competition
B.consumer sovereignty
C.wealth creation
D.property rights
E.profit motive
Answers
Answer:
E. Profit motive
Explanation:
Profit motive can be defined as the intention, motivation or desire to form a business or engage in business ventures so as to generate financial (monetary) gains.
This ultimately implies that, profit motive is a desire for monetary gains (profits) which motivates a business owner to engage in the sales of finished goods or services.
Hence, profit motive is the premise on which all businesses are built on because the ultimate goal of every business is to achieve financial gains.
In this scenario, the computer accessories that Javier is making and selling are bringing in a substantial amount of money for him. Inspired by this success, he decides to hire two people and expand his business.
Thus, this is an example of profit motive.
When does a salesperson generally move in to close a deal?
A. after establishing rapport
B. after qualifying the lead
C. after answering objections
D. after delivering the sales pitch
Answers
So C.
abe's steakhouse is the largest upscale steakhouse company in the united states, based on total company- and franchisee-owned restaurants. the company's menu features a broad selection of high-quality steaks and other premium offerings. assume the information below is from a recent annual report: common stock, $0.01 par value; 100,030,000 shares authorized; 23,563,356 issued and outstanding at the end of the current year; 23,375,356 issued and outstanding at the end of last year. additional paid-in capital: $199,389,000 at the end of the current year and $170,431,000 at the end of last year. accumulated deficit: ($82,097,000) at the end of last year. in the current year, net income was $54,383,000 and a cash dividend of $7,138,000 was paid.
Answers
Equity held by shareholders refers to the sum that a company's founders have contributed to the enterprise. This covers the funds they have directly invested as well as the total amount of profits the business has generated and reinvested since its establishment.
The total assets less the total liabilities of the company can also be used to determine the shareholders' equity. The account shows what the company did with the profits and money it earned throughout the time period.
Indicating whether a corporation chooses to distribute profits as dividends to shareholders or reinvest them back into the business, it also indicates the dividend policy of the organisation. Common shares, preferred shares, and retained earnings make up the three components of shareholders' equity on the balance sheet.
The balance sheet treatement for shareholder's equity is attached as an image for the question asked.
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Disclaimer: Your question is incomplete. Please write the complete question by looking over the internet.
What is the first and most important step in data analysis?
Answers
Any data analysis technique must begin by defining the aim. A crucial step in clarifying your objective is formulating a hypothesis and considering how to test it.
Data analysis: Why Is It Important?Data analysis is essential for businesses because it improves customer understanding, increases revenue, improves consumer targeting, decreases costs, and enables the creation of more efficient problem-solving methods.
Which phase of data analysis is most important?It's critical to approach data analysis with a clear goal in mind. If you are aware of the business problem you are attempting to address and have well defined objectives, choosing the data you need will be lot simpler.
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francis has calculated that the fixed costs for his company to manufacture a new jet ski are $24,000, the sales price is $9,000, and the variable cost per unit is $1,000. the break-even point is?
Answers
Answer: 3 units
Explanation: got it right on edgen
the coffee house, a local coffee shop, has a low return on equity. what does this indicate?
Answers
it is important for investors to carefully evaluate the coffee shop's financials, such as revenue and expenses, to determine the reasons behind the low return on equity and to identify potential areas for improvement.
If the coffee house has a low return on equity, it means that the profits generated by the business are not enough to compensate for the amount of money invested in it. This can be a red flag for investors as it suggests that the business may not be performing well and may not be able to generate sufficient returns in the future. It is important to note that a low return on equity does not necessarily mean that the business is failing or that it should be avoided altogether. However, it is important for investors to carefully evaluate the coffee shop's financials, such as revenue and expenses, to determine the reasons behind the low return on equity and to identify potential areas for improvement.
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________ involves assembling, packing, labeling, checking and actually moving goods to customers by the best possible means in terms of cost, safety and speed.(1 Point)
a.Distribution
b.Production
c.Driving
d.Direction
Answers
Answer:
distribution or a
Explanation:
When you pack and give the goods to the customers, you are 'distributing' the goods.
Have a nice day! ^ ^
FILL IN THE BLANK. ______ refers to the continuous monitoring of events in other locations keeps managers aware of potential business opportunities and threats.
Answers
Environmental scanning refers to the continuous monitoring of events in other locations keeps managers aware of potential business opportunities and threats.
Environmental scanning is a term used in business to describe the process by which leaders look over the landscape of their rivals, clients, and novel products and services. The CEO who prepares today will be the one who will lead in the future.
Environmental scanning enables CEOs to step back from day-to-day activities and acquire a broad perspective of the company. By doing this, the organization switches from a reactive to a proactive mode, enabling it to foresee and adapt to market developments as well as new client expectations.
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which is an example of a demand-oriented approach to setting an approximate price? multiple choice question. skimming pricing loss leader experience curve target return on sales
Answers
These approaches, which are particularly "psychological" in nature, prioritise expected client likes and preferences over criteria like cost, revenue, and competition when determining a price level.
What does profit mean?The money that remains after paying your business expenses is your profit. Gross profit, operating profit, and net profit are the three primary types of profit. The largest profit is gross. The balance left over after paying for the sold goods and services is shown.
What is a business example of profit?Its simplest definition is the sum that remains after deducting all expenses from all revenues. The remaining funds, or your earnings, can either be retained by the company and reinvested to fund future expansion, or they can be given as a drawing or dividends to shareholders.
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one problem with the use of the polygraph to detect lying is that the test
Answers
Answer:
the person may be nervous, causing the test to be invalid
Money market is essentially a market for short term funds. Discuss
Answers
Answer:
ok so a money market is like say you want to start a business, you have to invest in your business to start getting money back
Explanation:
so say Sarah wanted to start a bracelet business she has to buy the things for it and buy flyers and things to start earning customers to get money back :)
hope this helps I'm only in 10th grade so this was hard to explain
Which feature helps streamline the purchasing process once a customer approves an estimate?
Answers
The feature helps streamline the purchasing process once a customer approves an estimate is Copy to purchase order from an estimate. Thus the correct answer is B.
What is a customer?A customer refers to a person who purchases the product. He may or may not utilize the product. The final user of any product is referred to as a consumer.
Once your estimate has been approved by the client, you can quickly copy it to a purchase order to speed up the procedure. Purchase orders only receive copies of products that are clearly indicated as vendor purchases.
Therefore, option B Copy to purchase order from an estimate is appropriate to answer.
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The complete question is Question 1
Which feature helps streamline the ordering process once a customer approves an estimate?
Price Rules
Copy to purchase order from an estimate
Automatic Purchase Orders
Export Data
An instrument used to enlarge or reduce a map is known as
Answers
Answer:
pantograph
Explanation:
you can use a pantograph to do this.
a. associates degree
b. doctoral degree
c. high school degree
d. professional degree
Answers
how is opening a 2nd store a good method of research and will will it help the business?
Answers
Answer:
opening a second store is a good method of business because people will think, "oh this is a successful business because they have more than one locations." It will help the business by bringing in more customers.
Explanation:
jim's company has recently opened branch offices in several countries where they had not been located in the past. what technique might best help those reading jim's report on the company's growth to quickly grasp this progress?
Answers
The technique that might best help those reading Jim's report on the company's growth to quickly grasp this progress is the use of visual aids.
Visual aids are a great way to represent data and information so that it can be easily understood by the readers. It involves the use of images, graphs, charts, diagrams, and videos to present information in a more effective manner. In Jim's report, he can use graphs to represent the growth of the company in each of the new locations where they have opened their branches.
The graph could represent the number of customers, revenue generated, and profits from each branch in the various countries where they have opened branches. Jim could also use images to show the locations of each branch, so readers can quickly get a better idea of the countries where the branches were opened.
In conclusion, the best technique that might best help those reading Jim's report on the company's growth to quickly grasp this progress is the use of visual aids.
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Hem and Nem are partners in a firm sharing profits in the ratio of 3:2. Their capitals were 80,000 and 60,000 respectively. They admitted Sam on Jan 1, 2019 as a new partner for 1/5th share in the future profits. Sam brought 60,000 as his capital.Calculate the value of goodwill of the firm and record necessary journal entries when Sam brings his share of goodwill in cash.
Answers
Answer:
Sam's capital account = $60,000 (for 1/5 of the firm)
the firm's total value = $60,000 x 5 = $300,000
goodwill = $300,000 - ($60,000 + $80,000 + $60,000) = $100,000
Hem's share of goodwill = ($80,000 / $140,000) x $100,000 = $57,143
Nem's share of goodwill = $100,000 - $57,143 = $42,857
the journal entry used to record goodwill:
Dr Goodwill 100,000
Cr Hem, capital, 57,143
Cr Nem, capital, 42,857
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
A small network is more effective than a large network.
Please select the best answer from the choices provided
ОТ
OF
Answers
Answer:
is
Explanation:
A small network is more efficient than a huge network is a false claim.
What do you meant by Wide area network?A telecommunications network that covers a significant amount of ground is called a wide area network (WAN). Often, leased telecommunications circuits are used to construct wide area networks.
Wide area networks are used by businesses, as well as by institutions of higher learning and governmental organizations, to transmit information to personnel, pupils, clients, customers, and suppliers located all over the world. In short, this form of communication makes it possible for a company to efficiently perform its regular tasks wherever it is.
A WAN could be thought of as the Internet. Yet, a lot of WANs are private and were created for a single enterprise. Given that LANs are networks that are physically close together, WANs can be distinguished from them.
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