Homework Answers
Total rent paid from january 1 to december 31, 20x6 =£2400.
Accounts are drawn upto september 30, 20x6 = for 9 months.
Therefore remaining three months rent for october ,november ,december would be prepayment for the accounts closed on september 30, 20x6.
Rent expense =£2400×9/12 =£1800
Prepayment =£2400-£1800=£600.
Add Answer to:
During January 20x6, Andell plc. paid rent of £2,400 to cover the period 1st January 20x6...
Please answer parts A through D. On January 1st, 2016, Whale Boats Co. issued a 6...
Please answer parts A through D.
On January 1st, 2016, Whale Boats Co. issued a 6 year $680,000 bond with a 2% coupon rate paid quarterly on March 31st, June 30th, September 30th, and December 31st for $660,000. Whale Boats Co. records interest quarterly. How much cash does the firm receive on January 1st, 2016? Your Answer: Answer On January 1st, 2016, Whale Boats Co. issued a 8 year $600,000 bond with a 9% coupon rate paid quarterly on March...
ABC PLC has a year-end of 31st December 2012. During the year, ABC LTD redeemed 80...
ABC PLC has a year-end of 31st December 2012. During the year, ABC LTD redeemed 80 million of its existing share capital on 30th September 2012. Only 50% of the total amount payable on shares was paid on 30th September. The number of shares outstanding at the start of the year were 130 million. What is the weighted average number of shares to be used in the EPS calculation? 50 million 90 million 110 million 120 million ABC PLC has...
On January 1 of the current year, Oliver Company paid $2,100 in rent to cover six months
On January 1 of the current year, Oliver Company paid $2,100 in rent to cover six months (January June). Oliver recorded this transaction as follows: DateAccountsDebitCreditJan 1 Prepaid Rent2,100Cash2,100Oliver adjusts the accounts at the end of each month. Oliver's adjusting entry at the end of February should include a debit to Rent Expense in the amount of A. $700 B. $0 C. $350 D. $1,400
The following transactions occurred during the first twelve months of operations: January 1st Common stock is...
The following transactions occurred during the first twelve months of operations: January 1st Common stock is issued in exchange for cash in the amount of ………….………….……………………… 395,000 February 8th The company purchases and pays for 170 units of gourmet dog food at a price of $25 per unit ………….. 4,250 March 1st The company pays cash for a one-year insurance policy in the amount of ……………….………………………..….. 3,900 March 31st Rent on a retail space for 12 months is paid in...
On January 1 of the current year, Aladdin Company paid $900 rent to cover six months...
On January 1 of the current year, Aladdin Company paid $900 rent to cover six months (January through June). Aladdin recorded this transaction as follows: Journal Entry Debit Accounts Credit Date Jan 1 Prepaid Rent 900 Cash 900 Aladdin's adjusting entry at the end of February included a debit to Rent Expense in the amount of $150. What effect does the adjusting entry have on Naddin's net income for February? O A. decrease by $300 OB. decrease by $150 O...
What is the net income for the period year. The institution adjusts the books only at...
What is the net income for the period year. The institution adjusts the books only at end of the year. The following is the unadjusted trial balance and some other info for December 31, 2019. Accounts payable: 5,000 Accounts receivable: 4,000 Cash: 26,000 Common stock: 20,000 Dividends: 3,000 equipment: 16,000 Government contract revenue: 17,000 Prepaid rent: 4,000 Private sector revenue: 8,000 Retained earnings: 10,000 supplies: 2,000 Unearned revenue: 5,000 Wages expense: 10,000 1. Prepaid rent was recorded on November 21,...
On January 1 of the current year, Cruella Company paid $1,500 rent to cover six months...
On January 1 of the current year, Cruella Company paid $1,500 rent to cover six months (January through June). Cruella recorded this transaction as follows: Journal Entry Date Accounts Debit Credit Jan 1 Prepaid Rent 1,500 Cash 1,500 Cruella's adjusting entry at the end of February included a debit to Rent Expense in the amount of $250. What effect does the adjusting entry have on Cruella's net income for February? A. increase by $500 B. decrease by $250 C. increase...
On January 1, 2020 the company paid $3,600 for an annual (12 month) flood insurance policy...
On January 1, 2020 the company paid $3,600 for an annual (12 month) flood insurance policy covering their headquarter building. Assume the company has a monthly accounting period, prepare the adjusting entry needed at the end of January. Assume the company has a quarterly accounting period (report once every 3 months). Prepare the entry needed at the end of the first quarter. A business pays its employees $1,500 per day and payday is each Friday. Prepare the adjusting entry needed...
Depreciation on the office equipment for the year is $10,900. Employee salaries are paid twice a...
Depreciation on the office equipment for the year is
$10,900.
Employee salaries are paid twice a month, on the 22nd for
salaries earned from the 1st through the 15th, and on the 7th of
the following month for salaries earned from the 16th through the
end of the month. Salaries earned from December 16 through December
31, 2021, were $1,200.
On October 1, 2021, Pastina borrowed $51,800 from a local bank
and signed a note. The note requires interest to...
Sun Corporation was created on January 1, 20X2, and quickly became successful. On January 1, 20X6,...
Sun Corporation was created on January 1, 20X2, and quickly became successful. On January 1, 20X6, its owner sold 80 percent of the stock to Planet Company at underlying book value. At the date of that sale, the fair value of the remaining shares was equal to 20 percent of the book value of Sun. Planet continued to operate the subsidiary as a separate legal entity and used the equity method in accounting for its investment in Sun. The following...
Please answer parts A through D.
On January 1st, 2016, Whale Boats Co. issued a 6 year $680,000 bond with a 2% coupon rate paid quarterly on March 31st, June 30th, September 30th, and December 31st for $660,000. Whale Boats Co. records interest quarterly. How much cash does the firm receive on January 1st, 2016? Your Answer: Answer On January 1st, 2016, Whale Boats Co. issued a 8 year $600,000 bond with a 9% coupon rate paid quarterly on March...
On January 1 of the current year, Aladdin Company paid $900 rent to cover six months (January through June). Aladdin recorded this transaction as follows: Journal Entry Debit Accounts Credit Date Jan 1 Prepaid Rent 900 Cash 900 Aladdin's adjusting entry at the end of February included a debit to Rent Expense in the amount of $150. What effect does the adjusting entry have on Naddin's net income for February? O A. decrease by $300 OB. decrease by $150 O...
On January 1 of the current year, Cruella Company paid $1,500 rent to cover six months (January through June). Cruella recorded this transaction as follows: Journal Entry Date Accounts Debit Credit Jan 1 Prepaid Rent 1,500 Cash 1,500 Cruella's adjusting entry at the end of February included a debit to Rent Expense in the amount of $250. What effect does the adjusting entry have on Cruella's net income for February? A. increase by $500 B. decrease by $250 C. increase...
On January 1, 2020 the company paid $3,600 for an annual (12 month) flood insurance policy covering their headquarter building. Assume the company has a monthly accounting period, prepare the adjusting entry needed at the end of January. Assume the company has a quarterly accounting period (report once every 3 months). Prepare the entry needed at the end of the first quarter. A business pays its employees $1,500 per day and payday is each Friday. Prepare the adjusting entry needed...
Depreciation on the office equipment for the year is
$10,900.
Employee salaries are paid twice a month, on the 22nd for
salaries earned from the 1st through the 15th, and on the 7th of
the following month for salaries earned from the 16th through the
end of the month. Salaries earned from December 16 through December
31, 2021, were $1,200.
On October 1, 2021, Pastina borrowed $51,800 from a local bank
and signed a note. The note requires interest to...
Most questions answered within 3 hours.
-
Batteries play an important role in our everyday lives. From
making many devices mobile, to allowing...
asked 5 seconds ago -
Determine the pHpH of an HFHF solution of each of the following
concentrations. The KAKA value...
asked 3 minutes ago -
Two point charges of 7.0mL are initially 11.5m apart. What is
the change in potential energy...
asked 4 minutes ago -
It is possible to iterate through an array quickly and easily
using a loop?
asked 7 minutes ago -
Please write as a short answer
You have heartburn and a two hour working session on...
asked 8 minutes ago -
Please solve with excel and mention the excel function.
Thanks
Kevin deposits $10,000 in a savings...
asked 10 minutes ago -
Which Special Journal would the following transaction be
journalized in?
Sold merchandise on account to Customer...
asked 22 minutes ago -
Assuming 100% dissociation, calculate the freezing point (?fTf)
and boiling point (?bTb) of 1.45 ? K3PO4(aq)1.45...
asked 24 minutes ago -
An inflated helium balloon with a volume of 0.35L at
sea level (1.0 atm) was allowed...
asked 26 minutes ago -
Python 3.0 Please
Write a function that takes, as arguments, a binary string, a
list of...
asked 54 minutes ago -
(a) Calculate the momentum of a 2150 kg elephant charging a
hunter at a speed of...
asked 42 minutes ago -
all the following is an example of a fixed cost except: any cost
that changes in...
asked 44 minutes ago