Answer and Explanation:
The adjusting entry is as followS:
Rent expense $2,500
To Prepaid rent $2,500
(Being rent expense is recorded)
Here the rent expense is debited as it increased the expenses and credited the prepaid rent as it decreased the assets
The rent for one month is
= $15,000 ÷ 6 months × 1 month
= $2,500
A "stipulated sum contract," commonly referred to as a lump sum contract, is a construction contract where the contractor consents to finish the project for a predefined, fixed amount.
<h3>What its means contract?</h3>
The simplest definition of something like a contract is a commitment that is legally binding. The commitment could be to carry out or abstain from a certain action. A contract must be made by two or more parties who must agree to it, with one of them typically presenting an offer and the other accepting it.
<h3>What are contracts in law?</h3>
A contract is an agreement that is legally binding; I A contract is an agreement that is legally binding at one or both of the parties' discretion but not at the discretion of the other party or parties.
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Answer:
Cash + Supplies = Accounts Payable + common stock - dividends + sales commission - Rent expense.
$20,000 + 2,520 = $2,520 - $1,590 + 25,700 - $5,040 - $8,000 - $2,420 - $1,160 - $3,030 - $850
Explanation:
The effect of transaction is listed above. The effect will be on the balance sheet. These transaction have impacts on various accounts assets side is impacted and liability side is impacted. Equity is affected when there is payment of dividends and stock capital issuance.
Nothing. The inspector won't be able to investigate the attic during the inspection. The inspector is not required to move objects to access blocked areas. This is the responsibility of the seller prior to the inspection taking place
<h3>What does inspection serve to accomplish?</h3>
- Inspection denotes a thorough analysis. Meeting consumer needs and preventing the distribution of substandard items are inspections' main goals. Unquestionably, some product flaws cannot be detected or corrected at the final stages of manufacture.
- An inspection entails checking, or examining and evaluating, a subject. To make sure that it complies with certain requirements, we could inspect a structure or organization. The inspectors must guarantee that nothing is broken and that no one is in violation of the law.
- Pre-production, in-line, and final quality inspections are the three main categories. To identify and address quality issues, a number of details must be examined and approved during each phase.
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