Homework Answers
Rent expense per month:
= $19,200 / 6
= $3,200
Debit rent expense $3,200 and credit prepaid rent $3,209
3rd option
Add Answer to:
On July 1 the Concord Corporation paid $19200 to Acme Realty for 6 months rent beginning...
On April 1 the ABC Inc. paid $20,400 to Acme Realty for 12 months Rent beginning...
On April 1 the ABC Inc. paid $20,400 to Acme Realty for 12 months Rent beginning May 1. The company did the correct recording on April 1. If financial statements are prepared on December 31st, the rent expense for the year is: A 20400 B 13600 C 15300 D 11900
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom...
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debitec full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Swifty's Sports Store is O Debit Rent Expense. $14600; Credit Prepaid Rent, $14600. O Debit Rent Expense, $14600: Credit Prepaid Rent. $3650. Debit Prepaid Rent, $3650; Cred Rent Expense, $3650. Debit Rent Expense. $3650: Credit...
D Question 15 0.25 pts On April 1 the ABC Inc. paid $20,400 to Acme Realty...
D Question 15 0.25 pts On April 1 the ABC Inc. paid $20,400 to Acme Realty for 12 months Rent beginning May 1. The company did the correct recording on April 1. If financial statements are prepared on December 31st, what is the adjusting entry needed on the balance sheet? Decrease Cash 20,400 / Increase PrePaid Rent 20,400 Decrease PrePaid Rent 13,600/Decrease Rent Expense 13,600 Decrease Prepaid Rent 20,400 / Increase Rent Expense 20,400 Decrease PrePaid Rent 13,600 / Increase...
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
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
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...
UUSES 333105519C UUUUUU Your answer is partially correct. The ledger of Concord Corporation on July 31,...
UUSES 333105519C UUUUUU Your answer is partially correct. The ledger of Concord Corporation on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared Credit Debit $24.000 Investment in Note Receivable Supplies 23,000 Prepaid Rent 3,400 Buildings 260,000 Accumulated Depreciation-Buildings $130,000 10,600 Unearned Service Revenue An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2. Supplies on hand at the...
On July 1, Sidney Consulting Services paid $18,000 for 12 months of advance rent on its...
On July 1, Sidney Consulting Services paid $18,000 for 12 months of advance rent on its office building. Select the adjusting entry made on December 31, to record the amount of rent that had expired during the year Multiple Choice Prepaid Rent... Rent Expense.. $ 18,000 $18,000 Prepaid Rent..... Rent Expense. $ 10,500 $18, see $ 10,500 Rent Expense... Prepaid Rent... $19,500 Multiple Choice Prepaid Rent...... Rent Expense.... $ 18, eee $18,000 Prepaid Rent..... Rent Expense.... $ 10,500 $18, see...
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per...
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Cash for $4,800 Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Debit Rent Expense for $4,800 Credit Accounts Receivable for $4,800 Debit Prepaid Rent for $4,800 Debit Accounts Receivable $4,800 Credit Accounts Payable for $4,800 Credit Rent Expense for $600...
Happy Company signed a two-year lease on July 1, 2019, and paid the $34,800 total rent...
Happy Company signed a two-year lease on July 1, 2019, and paid the $34,800 total rent in advance. Happy recorded the transaction as a debit to Prepaid Rent and a credit to Cash. What adjusting entry should Happy make on December 31, 2019 (no previous adjustment has been made)? Select one: A. Rent Expense 8,700 Prepaid Rent 8,700 B. Prepaid Rent 26,100 Rent Expense 26,100 C. Rent Expense 17,400 Prepaid Rent 17,400 D. Prepaid Rent 8,700 Rent Expense 8,700
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debitec full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Swifty's Sports Store is O Debit Rent Expense. $14600; Credit Prepaid Rent, $14600. O Debit Rent Expense, $14600: Credit Prepaid Rent. $3650. Debit Prepaid Rent, $3650; Cred Rent Expense, $3650. Debit Rent Expense. $3650: Credit...
D Question 15 0.25 pts On April 1 the ABC Inc. paid $20,400 to Acme Realty for 12 months Rent beginning May 1. The company did the correct recording on April 1. If financial statements are prepared on December 31st, what is the adjusting entry needed on the balance sheet? Decrease Cash 20,400 / Increase PrePaid Rent 20,400 Decrease PrePaid Rent 13,600/Decrease Rent Expense 13,600 Decrease Prepaid Rent 20,400 / Increase Rent Expense 20,400 Decrease PrePaid Rent 13,600 / Increase...
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
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
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...
UUSES 333105519C UUUUUU Your answer is partially correct. The ledger of Concord Corporation on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared Credit Debit $24.000 Investment in Note Receivable Supplies 23,000 Prepaid Rent 3,400 Buildings 260,000 Accumulated Depreciation-Buildings $130,000 10,600 Unearned Service Revenue An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2. Supplies on hand at the...
On July 1, Sidney Consulting Services paid $18,000 for 12 months of advance rent on its office building. Select the adjusting entry made on December 31, to record the amount of rent that had expired during the year Multiple Choice Prepaid Rent... Rent Expense.. $ 18,000 $18,000 Prepaid Rent..... Rent Expense. $ 10,500 $18, see $ 10,500 Rent Expense... Prepaid Rent... $19,500 Multiple Choice Prepaid Rent...... Rent Expense.... $ 18, eee $18,000 Prepaid Rent..... Rent Expense.... $ 10,500 $18, see...
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Cash for $4,800 Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Debit Rent Expense for $4,800 Credit Accounts Receivable for $4,800 Debit Prepaid Rent for $4,800 Debit Accounts Receivable $4,800 Credit Accounts Payable for $4,800 Credit Rent Expense for $600...
Most questions answered within 3 hours.
-
you plan on savings $500 per month for 30 years and invest each
of those payments...
asked 1 hour ago -
1. Kenny Inc. has the following income statement for the most
recent fiscal year:
Sales $558.400...
asked 1 hour ago -
A meter stick is found to balance at the 45.8 cm mark when
placed on a...
asked 1 hour ago -
1. A manufacturer of processing chips knows that 2% of its chips
are defective in some...
asked 4 hours ago -
Discuss what you think the exit polls tell us about voters.
asked 5 hours ago -
The electron in a hydrogen atom can undergo a transition from
n=1 to n=6, absorbing a...
asked 5 hours ago -
Based on what you learned in chapter 11, why would an
individual with a high BMI...
asked 5 hours ago -
Assume the economy can be described by the consumption function
C = $300 billion + 0.9Y...
asked 5 hours ago -
Within an environment where change is needed, you must recognize
the obstacles that can make changes...
asked 5 hours ago -
Travelcraft, Inc., manufactures a complete line of fiberglass
suitcases and attaché cases. The firm has...
asked 5 hours ago -
1a.
During 2021, a company sells 270 units of inventory for $94
each. The company has...
asked 5 hours ago -
A 7.3 kg ladder, 1.92 m long, rests on two sawhorses, as shown
in Figure 20....
asked 5 hours ago