ch4 hw answers

ch4 hw answers - CHAPTER 4 HOMEWORK: Multiple Choice (Page...

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CHAPTER 4 HOMEWORK: Multiple Choice (Page 197): 1 . d 2. c 3. d 4. b 5. c 6. b 7. b 8. c 9. d 10. d 11. c 12. b 13. d E4-5A Susan rented office space for her new business on March 1, 2008. To receive a discount, she paid $3,600 for 12 months rent in advance. How will this advance payment appear on the financial statements prepared at year-end, December 31? Assume no additional rent was paid in 2009. Use the following chart for your answers: Rent expense : Prepaid rent at 12/31 : 2008 $3,000 $600 2009 $600 $ - 2008Rent expense ($3,600 X 10/12) = $3,000
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Prepaid rent ($3,600 X 2/12) = $600 2009Rent expense ($3,600 X 2/12) = $600 Prepaid rent ($3,600 X 0/12) = $0 E4-6A In November and December 2009, Uncle’s Company, a newly organized magazine publisher, received $72,000 for 1,000 three- year (36-month) subscriptions to a new monthly magazine at $24 per year, starting with the first issue in March 2010. Fill in the following chart for each of the given years to show the amount of revenue to be recognized
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ch4 hw answers - CHAPTER 4 HOMEWORK: Multiple Choice (Page...

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