Alert personnel when credentials are about to be expired
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
Awareness level is currently 77%, or .77.
Awareness decreases by 33% per year, so without any additional promotion spending, awareness next year would be .77 * .66 (2/3 of 77%)
The 1 million dollar spending will increase awares by 26%, so the effect on awareness will be 0.77 * 1.26
To calculate awareness next year:
77% times (1.26 - .33)
= .77 * 0.93
= .716, or 71.6%
Answer:
The information provided to Kanska was insufficient.
Explanation:
The onus was on the company to provide all the necessary information for Kanska to work with.
An application development firm only creates applications based on the requirements gathered from clients and if clients don't divulge all necessary information, there is bound to be dissatisfaction in service when the mobile application is provided.
