Homework Answers
Correct answer-------
| Rent Expense............ | $ 9,000.00 | |
| Prepaid Rent............... | $ 9,000.00 |
Rent for 6 months is expired till december 31. Amount to be recorded as expense is calculated as $9000......(18000/12 x 6=$9000).....
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On July 1, Sidney Consulting Services paid $18,000 for 12 months of advance rent on its...
On July 1, 2021, Charlie Co. paid $18,000 to Rent-An-Office for rent covering 18 months from...
On July 1, 2021, Charlie Co. paid $18,000 to Rent-An-Office for rent covering 18 months from July 2021 through December 2022. What adjusting entry should Charlie Co. record on December 31, 20217 Multiple Choice O Debit Rent Expense and credit Cash for $18,000 O Debit Rent Expense and credit Prepaid Rent for $18,000 O Debit Prepaid Rent and credit Rent Expense for $6.000 O Debit Rent Expense and credit Prepaid Rent for $6.000
no explaining 28. On July 1, 2018, Charlie Co. paid $18,000 in advance to Rent-An-Office for...
no
explaining
28. On July 1, 2018, Charlie Co. paid $18,000 in advance to Rent-An-Office for 12 months rent from July 2018 through June 2019. What adjusting entry should Charlie Co, record on December 31, 2018 to record the amount of rent expense incurred in 2018? 18,000 18.000 B. | 18,000 18,000 Rent Expense Cash Rent Expense Prepaid Rent Prepaid Rent Rent Expense Rent Expense Prepaid Rent c. 9,000 9,000 9,000 9,000 29. A list of all accounts and their...
AlfordCo paid $11,800 in advance for six months of rent. What journal entry will AlfordCo prepare...
AlfordCo paid $11,800 in advance for six months of rent. What journal entry will AlfordCo prepare to record this transaction? Multiple Choice Debit Cash and credit Deferred Rent for $11,800 Debit Rent Expense and credit Cash for $11,800 O O Debit Prepaid Rent and credit Cash for $11,800 Debit Cash and credit Prepaid Rent for $11,800
On July 1 the Concord Corporation paid $19200 to Acme Realty for 6 months rent beginning...
On July 1 the Concord Corporation paid $19200 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Concord Corporation is: debit Prepaid Rent, $3200; credit Rent Expense, $3200. O debit Rent Expense, $19200; credit Prepaid Rent, $16000. O debit Rent Expense, $3200; credit Prepaid Rent, $3200 O debit Rent Expense, $19200; credit Prepaid Rent, $3200.
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months...
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months of rent. The date is now August 31st. What should the adjusting journal entry be to correct the prepaid rent balance? O Debit Rent Expense $1,000 and Credit Prepaid Rent $1,000 Debit Insurance Expense $2,000 and Credit Prepaid Insurance $2,000 Debit Rent Expense $2,000, Credit Prepaid Rent $2,000 O Debit Prepaid Rent $2,000 and Credit Rent Expense $2,000
A. On May 1st, 2019, Desert paid $180,000 in advance for 18 months rent on its...
A. On May 1st, 2019, Desert paid $180,000 in advance for 18 months rent on its new warehouse. At the time, Desert debited a Nominal Account! B. On August 1st, 2019, Desert received $120,000 cash in advance for services to be provided over the next 6 months. At the time, Desert credited a Real account, For your account titles, choose from: Unearned Une Rent Prepaid Rent Revenue Prepaid Services Revenue Rent Expense Revenue i Service Expense Revenue Unearned Service "Because...
Each of the following independent events requires a year-end adjusting entry. Paid $9,900 cash in advance...
Each of the following independent events requires a year-end adjusting entry. Paid $9,900 cash in advance on July 1 for a one-year lease on office space. Purchased $3,400 of supplies on account on April 15. At year-end, $270 of supplies remained on hand. Received a $8,800 cash advance on July 1 for a contract to provide services for one year beginning immediately. Paid $3,800 cash in advance on February 1 for a one-year insurance policy. Required Record each event and...
An accrued expense occurs when: Multiple Choice O Cash payment (or an obligation to pay cash)...
An accrued expense occurs when: Multiple Choice O Cash payment (or an obligation to pay cash) occurs before the exp O An expense is recorded at the same time as the cash payment. O The expense is recognized before the payment of cash. O Cash is paid but an expense is never recorded. < Pr On July 1, 2021, Charlie Co. paid $18,000 to Rent An Office for rent covering 18 months from July 2021 through December 2022. What adjusting...
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months...
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months of rent. The date is now August 31st. What should the adjusting journal entry be to correct the prepaid rent balance? Debit Rent Expense $1,000 and Credit Prepaid Rent $1,000 Debit Insurance Expense $2,000 and Credit Prepaid Insurance $2,000 O Debit Rent Expense $2,000, Credit Prepaid Rent $2,000 O Debit Prepaid Rent $2,000 and Credit Rent Expense $2,000 Identify the account below that is...
Offshore International Leasing (OIL) received $43,200 for 12 months' rent in advance. How should oil record...
Offshore International Leasing (OIL) received $43,200 for 12 months' rent in advance. How should oil record this transaction? 6 Multiple Choice 2 points 01:20:37 O Interest expense Interest payable 43,200 43,200 salaries expense Salaries payable 43,200 43,200 Prepaid rent Rent expense 43,200 43,200 Cash Deferred rent revenue 43,200 43,200
On July 1, 2021, Charlie Co. paid $18,000 to Rent-An-Office for rent covering 18 months from July 2021 through December 2022. What adjusting entry should Charlie Co. record on December 31, 20217 Multiple Choice O Debit Rent Expense and credit Cash for $18,000 O Debit Rent Expense and credit Prepaid Rent for $18,000 O Debit Prepaid Rent and credit Rent Expense for $6.000 O Debit Rent Expense and credit Prepaid Rent for $6.000
no
explaining
28. On July 1, 2018, Charlie Co. paid $18,000 in advance to Rent-An-Office for 12 months rent from July 2018 through June 2019. What adjusting entry should Charlie Co, record on December 31, 2018 to record the amount of rent expense incurred in 2018? 18,000 18.000 B. | 18,000 18,000 Rent Expense Cash Rent Expense Prepaid Rent Prepaid Rent Rent Expense Rent Expense Prepaid Rent c. 9,000 9,000 9,000 9,000 29. A list of all accounts and their...
AlfordCo paid $11,800 in advance for six months of rent. What journal entry will AlfordCo prepare to record this transaction? Multiple Choice Debit Cash and credit Deferred Rent for $11,800 Debit Rent Expense and credit Cash for $11,800 O O Debit Prepaid Rent and credit Cash for $11,800 Debit Cash and credit Prepaid Rent for $11,800
On July 1 the Concord Corporation paid $19200 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Concord Corporation is: debit Prepaid Rent, $3200; credit Rent Expense, $3200. O debit Rent Expense, $19200; credit Prepaid Rent, $16000. O debit Rent Expense, $3200; credit Prepaid Rent, $3200 O debit Rent Expense, $19200; credit Prepaid Rent, $3200.
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months of rent. The date is now August 31st. What should the adjusting journal entry be to correct the prepaid rent balance? O Debit Rent Expense $1,000 and Credit Prepaid Rent $1,000 Debit Insurance Expense $2,000 and Credit Prepaid Insurance $2,000 Debit Rent Expense $2,000, Credit Prepaid Rent $2,000 O Debit Prepaid Rent $2,000 and Credit Rent Expense $2,000
A. On May 1st, 2019, Desert paid $180,000 in advance for 18 months rent on its new warehouse. At the time, Desert debited a Nominal Account! B. On August 1st, 2019, Desert received $120,000 cash in advance for services to be provided over the next 6 months. At the time, Desert credited a Real account, For your account titles, choose from: Unearned Une Rent Prepaid Rent Revenue Prepaid Services Revenue Rent Expense Revenue i Service Expense Revenue Unearned Service "Because...
An accrued expense occurs when: Multiple Choice O Cash payment (or an obligation to pay cash) occurs before the exp O An expense is recorded at the same time as the cash payment. O The expense is recognized before the payment of cash. O Cash is paid but an expense is never recorded. < Pr On July 1, 2021, Charlie Co. paid $18,000 to Rent An Office for rent covering 18 months from July 2021 through December 2022. What adjusting...
Prepaid rent has a balance of $6,000 that was paid on July 1st for 6 months of rent. The date is now August 31st. What should the adjusting journal entry be to correct the prepaid rent balance? Debit Rent Expense $1,000 and Credit Prepaid Rent $1,000 Debit Insurance Expense $2,000 and Credit Prepaid Insurance $2,000 O Debit Rent Expense $2,000, Credit Prepaid Rent $2,000 O Debit Prepaid Rent $2,000 and Credit Rent Expense $2,000 Identify the account below that is...
Offshore International Leasing (OIL) received $43,200 for 12 months' rent in advance. How should oil record this transaction? 6 Multiple Choice 2 points 01:20:37 O Interest expense Interest payable 43,200 43,200 salaries expense Salaries payable 43,200 43,200 Prepaid rent Rent expense 43,200 43,200 Cash Deferred rent revenue 43,200 43,200
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