User Account

All Pages

What the adjusting entry to be made by the ayayai corp is

Assignment Help Accounting Basics
Reference no: EM132813218

Problem 1: On July 1 the Ayayai Corp. paid $22560 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Ayayai Corp. is:

a. debit Rent Expense, $22560; credit Prepaid Rent, $3760.
b. debit Rent Expense, $3760; credit Prepaid Rent, $3760
c. debit Rent Expense, $22560; credit Prepaid Rent, $18800.
d. debit Prepaid Rent, $3760; credit Rent Expense, $3760.

Reference no: EM132813218

Questions Cloud

Classify each of the control activities as preventive : Classify each of the control activities as preventive, detective, or corrective. The West Boutiques company was founded by Libbie Williams in 1990
Determine number of orders in a year : Besides, the company estimates to be charged the transportation cost of RM15 per order. Determine number of orders in a year
Juvenile justice system : Understand the role different actors have in the Juvenile Justice system such as, juvenile court judge, the prosecutor, the juvenile defense counsel
Research criminal justice career : Outline the essential skills of report writing that you think are the most important.
What the adjusting entry to be made by the ayayai corp is : Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Ayayai Corp. is
Create a literacy-rich environment : Imagine you are setting up your classroom and want to create a literacy-rich environment. Describe the age of the students you serve as well as what someone.
Compute the price and quantity variances for october : Compute the price and quantity variances for October. The variable and fixed manufacturing overhead rates are based on direct labour-hours.
Who are the authors arguing for or against : The idea of personal responses are to engage in thoughtful internal dialogue about the idea of global issues and education. You should attempt, in your.
Journalize the entries to record the purchase of the bonds : Entries for bond (held-to-maturity) investments, Journalize the entries to record the purchase of the bonds on May 11 plus 40 days of accrued interest

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd