If a company made the following journal entry Dr. Rent expense (SE)................. xx Cr. Cash (A)............................
If a company made the following journal entry
| Dr. Rent expense (SE)................. | xx | |||
| Cr. Cash (A)......................... | xx | |||
what type of lease do they have?
A. capital lease
B. finance lease
C. operating lease
D. sales-type lease
Homework Answers
If company made above entry so its not financing lease because financing lease consider inteterest expense also but in operating lease rent expense is recorded as expense
so answer is c) Operating lease
Add Answer to:
If a company made the following journal entry
Dr.
Rent expense (SE).................
xx
Cr.
Cash (A)............................
What does the following journal entry indicate? DR: Factory Overhead CR: Rent Expense Group of...
What does the following journal entry indicate? DR: Factory Overhead CR: Rent Expense Group of answer choices Rent expense was added to FOH Rent expense was applied to WIP Rent expense was subtracted from FOH Rent was refunded by the landlord
Which of the following is not an adjusting entry? (a) Dr: Depreciation expense and Cr: Accumulated...
Which of the following is not an adjusting entry? (a) Dr: Depreciation expense and Cr: Accumulated depreciation. (b) Dr: Utilities expense and Cr: Utilities payable. (c) Dr: Insurance expense and Cr: Prepaid insurance. (d) Dr: Cash and Cr: Accounts receivable. (e) Dr: Interest receivable and Cr: Interest revenue.
69. The following entry was made on March 12 for XYZ Company: Dr: Machinery Cr: ACCounts...
69. The following entry was made on March 12 for XYZ Company: Dr: Machinery Cr: ACCounts Payable For which of the following transactions was this entry made? Answers: a. Payment for purchase of machinery b. Sale of machinery c. Depreciation of machinery d. Purchase of machinery 70. The concept of present value ____________________. Answers: a. can be simply defined as today’s value of a stream of future cash flows b. implies that the value of receiving cash today will be...
1. Which of the following would be the adjusting journal entry to recognize earned but unpaid...
1. Which of the following would be the adjusting journal entry to recognize earned but unpaid wages for the period? a Dr. Wages Expense, Cr. Cash b Dr. Wages Payable, Cr. Cash c Dr. Wages Payable, Cr. Wages Expense d Dr. Wages Expense, Cr. Wages Payable 2. Which of the following would be the effect of a transaction to record the portion of prepaid rent that has expired in a period? a. increase Prepaid Rent, decrease Rent Expense b increase...
Complete the following worksheet. Unadjusted TB Dr Adjusted TB Adjustments Account Cash At Bank Accounts Receivable Supplies Prepaid Rent Dr Dr 79 ccounts Payable 925 Salaries Payable apital Revenue...
Complete the following worksheet. Unadjusted TB Dr Adjusted TB Adjustments Account Cash At Bank Accounts Receivable Supplies Prepaid Rent Dr Dr 79 ccounts Payable 925 Salaries Payable apital Revenue Rent Expense Salary Expense Supplies Expense Now complete the adjusting journal entries 12 21 Dr Cr counts Recelvable Accrue revenue Dr Cr Supplies Record supplies used Record supplies used Dr Cr Record rent expense Dr Cr Accrue salary expense Now complete the following Financial Statements Name of Business Income Statement For...
What is the journal entry if you receive a utility bill, and the bill will be...
What is the journal entry if you receive a utility bill, and the bill will be paid at a later date: A) No journal entry required, until payment is made. B) Dr. Utility Expense, Cr. Cash C) Dr. Utility Expense, Cr. Utility Payable D) Dr. Utility Payable, Cr. Utility Expense
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Based on the following information, prepare the journal entry that recognizes the payroll expense for the...
Based on the following information, prepare the journal entry
that recognizes the payroll expense for the period ending today, to
be paid Friday of next week:
Total wages earned for the period: $8,000.00
Account Name Dr Cr $8,000 $8,000 To accrue wages for payroll period ending XX/XX
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues...
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues $20,000 $20,000 Briefly explain what occurred on the day the entry was made --- no concepts are necessary. Short Answer Toolbar navigation В І IC s 를 름 А A Im
Moses, Inc receives $50,000 in cash in exchange for ownership in their company. Which journal entry...
Moses, Inc receives $50,000 in cash in exchange for ownership in their company. Which journal entry should Moses, Inc. record? Group of answer choices a. DR: Revenue 50,000; CR: Stock 50,000 b. DR: Cash 50,000; CR: Stock 50,000 c. DR: Stock 50,000; CR: Cash 50,000 d. DR: Cash 50,000; CR: Revenue 50,000
Complete the following worksheet. Unadjusted TB Dr Adjusted TB Adjustments Account Cash At Bank Accounts Receivable Supplies Prepaid Rent Dr Dr 79 ccounts Payable 925 Salaries Payable apital Revenue Rent Expense Salary Expense Supplies Expense Now complete the adjusting journal entries 12 21 Dr Cr counts Recelvable Accrue revenue Dr Cr Supplies Record supplies used Record supplies used Dr Cr Record rent expense Dr Cr Accrue salary expense Now complete the following Financial Statements Name of Business Income Statement For...
What is the journal entry if you receive a utility bill, and the bill will be paid at a later date: A) No journal entry required, until payment is made. B) Dr. Utility Expense, Cr. Cash C) Dr. Utility Expense, Cr. Utility Payable D) Dr. Utility Payable, Cr. Utility Expense
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Based on the following information, prepare the journal entry
that recognizes the payroll expense for the period ending today, to
be paid Friday of next week:
Total wages earned for the period: $8,000.00
Account Name Dr Cr $8,000 $8,000 To accrue wages for payroll period ending XX/XX
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues $20,000 $20,000 Briefly explain what occurred on the day the entry was made --- no concepts are necessary. Short Answer Toolbar navigation В І IC s 를 름 А A Im
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