Answer | |
Non-current asset | $ 2,960 |
Current asset | $ 8,880 |
Working Note | |
Non-current asset = 4 x $740 = 2960 | |
Current asset = 12 x $740 = $8880 | |
$4440/6 = $740 | |
Required Information [The following information applies to the questions displayed below) On November 1, 2019, Wenger...
Required information [The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $3,600 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Required: a-1. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2019. (Use amounts with + for increases and amounts with - for decreases.) Assets Balance...
Required information [The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Required: a-1. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2019. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet...
! Required information (The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. c. Calculate the amount of prepaid rent that should be reported on the December 31, 2019, balance sheet with respect to this lease. Prepaid rent
[The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. a-2. Prepare the journal entry to record the six-month advance rent payment on November 1, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account...
[The following information applies to the questions displayed below.] On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. 6-2. Prepare the adjusting entry that will be made at the end of every month to show the amount of rent "used" during the month. (If no entry is required for a transaction/event,...
On November 1, 2019, Wenger Co. paid its landlord $31,800 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Required: a-1. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2019. (Use amounts with + for increases and amounts with – for decreases.)
im sorry. this should be the first part of the question
Required information The following information appes to the questions displayed below On November 1, 2019, Wenger Co, padits landlord $3.00 in cash as an advance rent payment on its store location. The sik-month lease period ends on April 30, 2020, which time the contract may be renewed. Required: -1. Prepare the horizontal model to record the six month advanceret payment on November 1, 2019 (Use amounts with for increases...
B. Deferred revenues-rent On September 1, 2017, Noreen Ltd. collected $72,900 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on February 28, 2018, at which time the lease contract may be renewed. Noreen's fiscal year ends on December 31. Required: 1. Prepare journal entries to record the collection of rent on September 1, 2017, and the related adjustment for the amount of rent earned during 2017. (If no entry...
Required information [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,096 on March 1, 2019. d. If the premium had been $6,192 for a two-year period, how should the prepaid amount at December 31, 2019, be reported on the balance sheet? Non-current asset Current asset
Required information [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,504 on March 1, 2019. a-1. Use the horizontal model to record the above transaction. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Assets Liabilities + Stockholders' Ec Required information [The following information applies to the questions displayed below.) A company makes the payment of a one-year insurance premium of $3,504 on...