The journal entry to record a payment made in January for rent for the months of February and March would include:
A. a debit to Prepaid Rent and a credit to Cash.
B. a debit to Rent Expense and a credit to Cash.
C. a debit to Sue Snow, Drawing and a credit to Rent Expense.
D. a debit to Rent Expense, and a credit to Sue Snow, Capital.
Answer: A
You might also like to view...
Suppose an investor purchased 100 shares of JDSU stock at a price of $50 per share on December 31, 2011. On December 31, 2012, JDSU paid dividends of $1.50 per share, and the investor received the dividends, then sold the stock at a price of $65 per share. a.If there were no taxes or inflation, what was the total return? b.If there were no taxes, but inflation was 3.5 percent, what was the real return? c.If the tax rate was 15 percent on dividends and capital gains, what was the after-tax real return?
What will be an ideal response?
Poor listening is caused by which of the following?
a. Not having been taught good listening b. Using the thought–speech speed advantage c. Maintaining emotional control d. Wanting to understand others e. Blocking outside distractions
When surveyed, the majority of employees give their organizations high marks on which one of the following?
A. Credibility D. Downward communication B. Manageability E. Upward communication C. Use of the grapevine
LNG is a large multinational appliance manufacturer. The company gets raw materials from many vendors. In this case, LNG is characterized by ________.
A. very low threat of substitute products B. high bargaining power over its suppliers C. very low threat of new entrants in the market D. low bargaining power over its suppliers E. very high bargaining power over its customers