Answer: Having peace of mind
Explanation:
Financial security retirement plan consist of the following;
Making savings automagical.
Control your impulse spending.
Evaluate your expenses, and live frugally.
Invest in your future.
Preexisting condition. It was how insurance companies would not cover many conditions.
Answer:
a. $5,460
Explanation:
The computation of the ending amount of direct labor cost is shown below:
First we have to compute the direct labor hours which is
= Ending work in process - direct materials cost
= $17,578 - $7,750
= $9,828
The total per direct labor hours is
= $12 + $15
= $27
So, the direct labor hours would be
= $9,828 ÷ $27
= 364 hours
So, the ending direct labor cost is
= 364 hours × $15 per hour
= $5,460
Answer:
1.
Debit Credit
Prepaid Rent $22,800
Cash $22,800
2.
Debit Credit
Rent expense(22,800*3/12) $5,700
Prepaid Rent $5,700
3.
Prepaid rent=22,800-5,700=$17,100
Rent expense=$5,700
Explanation:
1.
On October 1, , the following journal entry will be recorded in respect of the advance rent paid by the Hoosiers for one year of rent space at local mall:
Debit Credit
Prepaid Rent $22,800
Cash $22,800
2.
The year end given in this question is December 31 and the prepaid rent is paid for one year and since the rent is paid on October 1, therefore, only expense in respect of 3 months i.e. from October to the December will be recognised in this year in respect of rent expense. Remaining expense of nine months will be recognised in the next year.
The following adjusting Journal entry will be recorded in respect of rent expense in accounts on December 31.
Debit Credit
Rent expense(22,800*3/12) $5,700
Prepaid Rent $5,700
3. The year end adjusting balance of prepaid rent and rent expense will be calculated as
Prepaid rent=22,800-5,700=$17,100
Rent expense=$5,700
