On March 1, 2016, LeBlanc, Inc. paid $60,000 for office rent covering the three-month period ending May 31, 2016. Journalize the adjusting entry on March 31 by using the alternative treatment of deferred expenses
What will be an ideal response
Prepaid Rent 40,000
Rent Expense 40,000 .Rent for the month of March = $60,000 / 3 = $20,000
Amount of prepaid rent by the end of March = $60,000 - $20,000 = $40,000
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In the consumer sector, advertising tends to:
A) support other promotional tools such as personal selling, trade promotions, consumer promotions, direct marketing, and trade shows B) be the primary vehicle for communicating to customers C) be done in-house to prevent competitors from learning about the company's products and communication approach D) be used to support consumer promotions and personal selling efforts
The central limit theorem states that ______.
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The ________ section of an informal proposal may include a request for approval or authorization, a reminder of key benefits, and a deadline beyond which the offer is invalid
A) ?background B) staffing C) ?budget D) ?conclusion
Murphy's Repair has the following outstanding account receivables at the end of the month
The monthly late fee is 1.50% of the outstanding balance at the end of each billing month following the sale (February sales receive a late fee in April if not paid by March 31). Determine the total late fees due for the following. Invoice # Bill Date Customer Original $ Late Fees $ Current Date 6872 6/15/2008 RLO $321.00 9/30/2008 7100 6/25/2008 JBL $417.00 9/30/2008 7469 7/12/2008 DLL $585.00 9/30/2008 A) $19.85 B) $31.08 C) $48.17 D) $0.00