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The balance in the prepaid rent account before ment at the end of the year is...
The balance in the prepaid rent account before adjustment at the end of the year is...
The balance in the prepaid rent account before adjustment at the end of the year is $13,099, which represents 7 months' rent paid on December 1. The adjusting entry required on December 31 is a.debit Prepaid Rent, $11,228; credit Rent Expense, $1,871 b.debit Rent Expense, $11,228; credit Prepaid Rent, $1,871 c.debit Rent Expense, $1,871; credit Prepaid Rent, $1,871 d.debit Prepaid Rent, $1,871; credit Rent Expense, $1,871
The balance in the Prepaid Rent account before adjustment at the end of the year is...
The balance in the Prepaid Rent account before adjustment at the end of the year is $24900, which represents three months' rent paid on December 1. The adjusting entry required on December 31 is to O debit Prepaid Rent $16600, credit Rent Expense. $16600 debit Prepaid Rent $8300: credit Rent Expense, $8300 debit Rent Expense, $8300, credit Prepaid Rent. $8300 debit Rent Expense, 516600;credit Prepaid Rent $16600 At March 1, 2020, Vaughn Corp. had supplies on hand of $550. During...
Hi may I have help with this please? Thank you! Calculator The balance in the prepaid...
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may I have help with this please? Thank you!
Calculator The balance in the prepaid rent account before adjustment at the end of the year is $12,252, which represents 12 months' rent paid on December 1. The adjusting entry required on December 31 is Oa. debit Prepaid Rent, $1,021, credit Rent Expense, $1,021 Ob. debit Rent Expense, $11,231, credit Prepaid Rent, $1,021 Oc. debit Rent Expense, $1,021, credit Prepaid Rent, $1,021 Od. debit Prepaid Rent, $11,231, credit Rent Expense,...
please show work and give me explanation 9. At December 31, 2013, before any year-end adjustments,...
please show work and give me explanation
9. At December 31, 2013, before any year-end adjustments, Murmur Company's Insurance Expense account had a balance of $1.450 and its Prepaid Insurance account had a balance of $3,800. It was determined that $2,800 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be a. $1,450. $2,450. $2,800. $4,250. cu dod 6. NWA Air Charter signed a four-month note payable in the amount of $20.000 on...
The balance in the prepaid insurance account, before adjustment at the end of the year, is...
The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,420. The year end is March 31. Journalize the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of insurance expired during the year is $15,780; (b) the amount of unexpired insurance applicable to future periods is $2,640. Refer to the Chart of Accounts for exact wording of account titles. CHART OF...
a. Prepaid Insurance. The Prepaid Insurance account has a $5,500 debit balance to start the year....
a. Prepaid Insurance. The Prepaid Insurance account has a $5,500 debit balance to start the year. A review of insurance policies shows that $1,300 of unexpired insurance remains at year-end. Prepaid insurance Debit Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Debit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Insurance oxpense Prepaid insurance b. Prepaid Insurance. The Prepaid Insurance account...
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...
Instructions The balance in the supplies account, before adjustment at the end of the year, is...
Instructions The balance in the supplies account, before adjustment at the end of the year, is $5,135. The year end is December 31. Joumatze the December 31 adjusting entry required if the amount of supples on hand at the end of the year is $1,350. Hefer to the Chart of Accounts for exact wording of account Journal Joumaire the December 31 agusting entry required if the amount of supplies on hand at the end of the year is $1,350. Refer...
The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,755. The year and is March 31.
The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,755. The year and is March 31. Joumate the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment (a) the amount of insurance expired during the year is $14.715; (b) the amount of unexpired insurance applicable to future periods is $4,040. Refer to the Chart of Accounts for exact wording of account titles.
Which of the following is TRUE regarding the accounts prepaid rent and rent expense? A.Prepaid rent...
Which of the following is TRUE regarding the accounts prepaid rent and rent expense? A.Prepaid rent represents the cost of rent not yet paid for, while rent expense represents the cost of rent which has been paid for. B.TThese account titles both mean the same thing and are used interchangeably. C.Prepaid rent represents the cost of rent paid for but not yet used, while rent expense represents the cost of rent used to deliver goods or services to customers. D.Rent...
The balance in the Prepaid Rent account before adjustment at the end of the year is $24900, which represents three months' rent paid on December 1. The adjusting entry required on December 31 is to O debit Prepaid Rent $16600, credit Rent Expense. $16600 debit Prepaid Rent $8300: credit Rent Expense, $8300 debit Rent Expense, $8300, credit Prepaid Rent. $8300 debit Rent Expense, 516600;credit Prepaid Rent $16600 At March 1, 2020, Vaughn Corp. had supplies on hand of $550. During...
Hi
may I have help with this please? Thank you!
Calculator The balance in the prepaid rent account before adjustment at the end of the year is $12,252, which represents 12 months' rent paid on December 1. The adjusting entry required on December 31 is Oa. debit Prepaid Rent, $1,021, credit Rent Expense, $1,021 Ob. debit Rent Expense, $11,231, credit Prepaid Rent, $1,021 Oc. debit Rent Expense, $1,021, credit Prepaid Rent, $1,021 Od. debit Prepaid Rent, $11,231, credit Rent Expense,...
please show work and give me explanation
9. At December 31, 2013, before any year-end adjustments, Murmur Company's Insurance Expense account had a balance of $1.450 and its Prepaid Insurance account had a balance of $3,800. It was determined that $2,800 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be a. $1,450. $2,450. $2,800. $4,250. cu dod 6. NWA Air Charter signed a four-month note payable in the amount of $20.000 on...
a. Prepaid Insurance. The Prepaid Insurance account has a $5,500 debit balance to start the year. A review of insurance policies shows that $1,300 of unexpired insurance remains at year-end. Prepaid insurance Debit Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Debit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Insurance oxpense Prepaid insurance b. Prepaid Insurance. The Prepaid Insurance account...
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...
Instructions The balance in the supplies account, before adjustment at the end of the year, is $5,135. The year end is December 31. Joumatze the December 31 adjusting entry required if the amount of supples on hand at the end of the year is $1,350. Hefer to the Chart of Accounts for exact wording of account Journal Joumaire the December 31 agusting entry required if the amount of supplies on hand at the end of the year is $1,350. Refer...
The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,755. The year and is March 31. Joumate the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment (a) the amount of insurance expired during the year is $14.715; (b) the amount of unexpired insurance applicable to future periods is $4,040. Refer to the Chart of Accounts for exact wording of account titles.
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