swift company paid $14,500 in advance for six months of rent. what journal entry will swift prepare to record this transaction?

Answers

Answer 1

Journal entry will swift prepare to record this transaction is:

Debit Cash: $14,500

Credit Prepaid Rent: $14,500

What is transaction ?

A transaction in business is defined as an activity which involves the exchange of goods, services, and/or money between two or more parties. Transactions are the basis of modern commerce and are an essential part of the economic system. Transactions can take place between two businesses, between two individuals, or between a business and an individual. The transactions process is usually completed when goods, services, or money are exchanged for a specified amount. For example, when a customer buys a product from a store, the customer pays for it with cash or credit and the store gives them the product. Transactions can be completed online, through a bank, or in person. Transactions are a fundamental part of any business and form the basis of the business operations. Without them, no business can operate or be successful.

Debit: Cash $14,500

Credit: Prepaid Rent $14,500

Since Swift Company has paid for six months of rent in advance, the journal entry will include a debit to Cash for the amount of $14,500 and a credit to Prepaid Rent for the same amount. This entry will create a prepaid rent asset account which will be amortized over the six months of rent.

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Related Questions

How can the various templates that are available for new Word documents be accessed?

opening up an instance of Word
pressing CTRL+N with Word open
clicking File to enter Backstage View
all of the above

Answers

Answer: All of the above

Explanation:

When you open up Word newly, the available templates will be listed for you to choose one of your preference and if those are not enough, one can still get more online.

Pressing CTRL+N with Word open will also enable you to have access to the various templates. Finally, clicking File will enable you to enter Backstage View where you can then click on New to see the various templates.

Answer:

the answer is d) all of the above

Explanation:

Is how a project manager makes use of productivity tools and creates processes. The project manager may need to use certain tools and processes to do tasks like create a schedule and share information. 1 point.

Answers

A project manager uses productivity tools and develops processes through planning and organizing. To complete responsibilities like making a timetable and sharing information, the project manager might need to make use of specific tools and procedures.

What are organizing and planning?

The managerial task of organizing and planning serves to show how a project manager uses productivity tools and develops processes.

In this situation, the project manager might require the use of specific tools and procedures to carry out tasks like making a schedule and sharing information.

What instrument or approach is employed in the develop project management plan process?

The project management plan is developed using the brainstorming technique, which is intended to collect suggestions and ideas on how the project should be approached. Project team members, SMEs, and stakeholders are included in the participants.

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What is a sales forecast?
A. A prediction of what other businesses will make similar products
B. A prediction of how many customers a business will have visit its
store
C. A prediction as to the volume of sales that a business expects to
make in the upcoming future

Answers

A sales forecast is A prediction as to the volume of sales that a business expects to make in the upcoming future. Thus the correct option is C.

What is the objective of the sales Forecast?

A sales forecast is a projection of the engagements that will go through the selling process and is a statement of anticipated sales revenue that expresses how much your organization anticipates selling within a specific time frame.

Making well-informed choices about the management of the firm, including decisions about staffing and inventory, new product lines, and prospective marketing initiatives, is aided by sales predictions.

By the use of sales forecasting, firms can more correctly predict their expenses and revenue. Time and money wasted on unsuitable candidates or customers must be reduced for better prospecting.

Therefore, option C is appropriate.

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if an advertisement placed on the television program this is us is watched at least once by 10 percent of the advertiser’s target audience, then the___________is said to be 10 percent.

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If an advertisement placed on the television program "This Is Us" is watched at least once by 10 percent of the advertiser's target audience, then the reach or viewership of the advertisement is said to be 10 percent.

Reach refers to the total number or percentage of unique individuals or households exposed to a particular advertisement or media content within a specific time frame. In this case, if 10 percent of the advertiser's target audience watches the advertisement at least once while it airs during the TV program "This Is Us," the reach of the ad is considered to be 10 percent. It signifies the extent of the ad's audience penetration and indicates the potential number of individuals who have been exposed to the advertisement's message within that specific target audience segment.

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Error in amortization schedule 乌ி LO14-3 Nakano Food Products, Inc., acquired a packaging machine from Lawrence Specialists Corporation. - Lawrence completed construction of the machine on January 1, 2022. - In payment for the machine Nakano issued a threeyear installment note to be paid in three equal payments at the end of each year. - The payments include interest at the rate of 10%. - Lawrence made a conceptual error in preparing the amortization schedule, which Nakano failed to discover until 2024. - The error had caused Nakano to understate interest expense by $45,000 in 2022 and $40,000 in 2023. Required: I. Determine which accounts are incorrect as a result of these errors at January 1. 2024, before any adjustments. Explain your answer. (Ignore income taxes.) 2. Prepare a journal entry to correct the error. 3. What other step(s) would be taken in connection with the error?

Answers

1. Accounts affected by the errors at January 1, 2024, before any adjustments need to be determined.(2.) A journal entry should be prepared to correct the error.(3.) Additional steps may be required to address the error.

1. Accounts affected by the errors: The errors in the amortization schedule caused Nakano to understate interest expense by $45,000 in 2022 and $40,000 in 2023. As a result, the interest expense account for both years would be understated. The notes payable account would also be affected because the correct amount of interest expense should have been included in the note payable balance. Therefore, at January 1, 2024, before any adjustments, the interest expense and notes payable accounts would be incorrect due to the errors.

2. Journal entry to correct the error: To rectify the errors, a correcting journal entry needs to be made. The entry would involve increasing the interest expense account by $45,000 for 2022 and $40,000 for 2023, as these amounts were previously understated. Additionally, the notes payable account should be adjusted by the same amounts to reflect the correct balances. The journal entry would debit the interest expense account and credit the notes payable account.

3. Other steps in connection with the error: Apart from the journal entry, further steps may be taken to address the error. This may include notifying external parties, such as auditors or stakeholders, about the correction made to the financial statements. It is important to ensure that the corrected financial statements are properly communicated and any necessary disclosures or adjustments are made to prevent future misstatements. Internal controls and review processes may also be evaluated or strengthened to minimize the chances of similar errors occurring in the future.

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provide a defination of GAAP​

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Answer:

Showing results for provide a definition of GAAP

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मराठी मध्ये शोधा

gaap व्याख्या प्रदान

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Generally accepted accounting principles, or GAAP, are a set of rules that encompass the details, complexities, and legalities of business and corporate accounting. The Financial Accounting Standards Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practices.

Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the United States must follow GAAP when their accountants compile their financial statements.

Gavin has a fico score of 572. what is the minimum cash investment required for him to obtain an fha-insured loan?

Answers

If Gavin has a FICO score of 572. The minimum cash investment required in order for him to obtain an FHA loan is a. 10%

The term FHA stands for Federal Housing Administration. When qualifying for a FHA, a loan to purchase or refinance a particular home, borrowers may need to make a minimum cash down payment. Typically, 10% of total purchase price or the property's appraised value, whichever is less, is the minimum down payment required for an FHA loan.

A down payment is a common term used to describe this initial contribution which means that borrower is required to contribute at least three percent of a property's total cost out of their own money. In the given question, Gavin, who has a FICO score of 572, would need to put down a minimum of 10% of property's purchase price in cash in order to qualify for an FHA loan. By doing so, lender risk is decreased and it is ensured that the borrower has a financial stake in the property.

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Complete Question:

Gavin has a FICO score of 572. What is the minimum cash investment required in order for him to obtain an FHA loan?

a. 10%

b. 3.5%

c. 2.5%

d. 5%

Folding the arm to apply pressure after venipuncture can disrupt _____________ _________ __________________ when the arm is lowered.

Answers

Folding the arm after venipuncture can disrupt blood clot formation when the arm is lowered.

Folding the arm to apply pressure after venipuncture can disrupt the normal process of blood clot formation when the arm is lowered. After a venipuncture, it is important to maintain pressure on the puncture site to facilitate the formation of a stable blood clot. This clot helps prevent bleeding and aids in the healing process.

However, if the arm is folded or bent, it can interfere with the proper formation of the clot. Gravity plays a role in the clotting process, and when the arm is lowered, it can disrupt the delicate balance required for clot formation. This disruption can lead to inadequate clotting, prolonged bleeding, or even hematoma formation at the puncture site.

To ensure proper clot formation, it is essential to maintain steady pressure and keep the arm extended and elevated, avoiding any bending or folding that may impede the natural clotting process.

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During a job interview, Pam Thompson is offered a salary of $32,000. The company gives annual raises of 4 percent. What would be Pam's salary DURING her fifth year on the job? (You may need to round to the nearest answer)

Answers

Answer:

$38,933

Explanation:

A=P( 1 + r/100)^n

A= amount

r= rate(4%)

n=period (5)

A=32,000 ( 1 + 4/100)⁵

A=32,000 (1.04)⁵

A=38,932.89

A=$38,933( nearest whole number)

During a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.

What do you mean by the annual raise of salary?

A worker's salary increase is expressed as a percentage of their total base pay. Typically, it represents a portion of the employee's yearly compensation. Employers may utilize increments to raise or lower basic pay as well as to provide incentives.

The yearly increase % calculates the average annual percentage rate of salary increases.

Here,

Current salary= 32000

First increment will occur at the beginning of 2nd year = 32000 × (1+4%)

Second increment will occur at the beginning of 3rd year = 32000 × (1+4%) × (1+4%)

Third increment will occur at the beginning of 4th year =  32000 × (1+4%) × (1+4%) × (1+4%)

Fourth increment will occur at the beginning of 5th year

= 32000 × (1+4%) × (1+4%) × (1+4%) × (1+4%)

= 32000 × (1+4%)^4

= 32000 × (1.04)^4

= 32000 × 1.1698586

= $ 37435.474

Therefore, during a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.

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How does the rate of a proportional tax change with income?.

Answers

Answer:

Proportional taxes are a type of regressive tax because the tax rate does not increase as the amount of income subject to taxation rises, placing a higher financial burden on low-income individuals.

Explanation:The rate remains the same, even if income increases or decrease

If inflation rises unexpectedly by 5%, indicate for each of the following why the economic actor is helped, hurt, or unaffected: a) A union member with a COLA wage contract. b) Someone with a large stash of cash in a safe deposit box. c) A bank lending money at a fixed rate of interest. d) A person who is not due to receive a pay raise for another 11 months.

Answers

The person who is helped by the unexpected inflation is a person who is not due to receive a pay raise for another 11 months.

What is inflation?

Inflation is when there is a rise in the general price levels of an economy. When inflation is not expected, it would not be factored into the prices in the economy. Thus, those who received fixed wages are hurt. Also lenders are hurt.

A person who is not due to receive a pay raise for another 11 months is helped because in 11 months, the inflation would already be factored into the wage increase.

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If the policies supporting the sugar industry in the united states were discontinued, u. S. Producers would:.

Answers

Answer:

have to become more efficient.

As Lululemon is traditionally a yoga apparel company and Lululemon educators are viewed as educators, performance of yoga poses are included in the selection process. This is an example of




a. Reference checking



b. Application



c. Training



d. Recruitment



e. Testing

Answers

The process of checking for the performance of yoga poses by Lululemon is known as e. Testing.

What is testing?

This is a process by which a prospective employer checks to make sure that a prospective employee can do the job.

In checking the yoga poses of people they want to hire, Lululemon is testing to see if the person can be a good educator that would represent the company well.

In conclusion, option E is correct.

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Use the truth table for the disjunction argument to
answer the questions.
The case where p and q are true is given by the
Disjunction is true for all cases except when
The third row means that when p is false and q is true,
the disjunction is

Use the truth table for the disjunction argument toanswer the questions.The case where p and q are true

Answers

The given truth table, disjunction is true because even if one of the statements is false, the whole disjunction is still true.

What is the rule for a disjunction?

Disjunction is a type of logical connective that is represented by the symbol and corresponds to the word "or" in a common language. The character is referred to as an infix operator. Any one of the statements in a disjunction must be true for it to be true.

Given that every phrase must either be true or untrue, the disjunct of any statement and its negation is always true in classical bi-valued logic. The first disjunct and the entirety of the phrase are true if p is true. A conjunction is nonetheless true even if just one of its statements is untrue. A disjunction is false as a whole if only one of its statements is true.

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Answer:

Explanation:

1. first row

2. p and q are false

3. true

What would you do if fear was not a factor and you could not fail?

Answers

Answer:

I would take advantage while it still lasts

Explanation:

but in real life that actually is a thing to I cry myself to sleep

1. What are credit cards? Why do people use them?

2. What is interest? How does interest affect credit card purchases?

3. What are the benefits of using a credit card? What are the drawbacks of using a credit card?

4. In the case files section, four people pay a different price for the same digital music player? Why do the prices they paid differ? Explain the factors that affected each person’s ultimate cost for the music play.

5. Which of the individuals made the best use of their credit card? Which made the worst? Why?

6. What should you look for when choosing a credit card?

7. What is a “grace period”? How can it help you manage a credit card wisely?

8. What are three strategies that you can use to use credit cards wisely?

Answers

Credit card is used to borrow cash when needed on some interest rate.

What are credit cards? Why do people use them?

Credit cards are the type of cards that allow you to earn cash or other rewards for those things you buy daily. People use them because of the rewards as well as due to valuable budgeting tools.

What is interest? How does interest affect credit card purchases?

Interest is the price you pay to borrow money from a person or bank.  Interest affects credit card purchases because low interest rate is good for the people so people purchase it more.

What are the benefits and drawbacks of using a credit card?

The benefits of credit card is that they're a great way to build credit. It is more secure than cash. It gives rewards Points while on the other hand, the drawbacks of credit card is high cost of borrowing and too many Credit Cards can damage your credit.

So we can conclude that credit card is used to borrow cash when needed on some interest rate.

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yesterday you borrowed $30 from your brother. every day that you don't pay it back, you owe $2.00 more. so today, day 1, you owe him $32.00; on day 2 you will owe him $34.00; on day 3 you will owe him $36.00, etc. if you still haven't paid him back, how much will you owe him on day 22?

Answers

If you borrowed $30 from your brother yesterday, your debt on day 22 is $74 for each day you don't repay it.

What exactly is a sequence?

It is described as the methodical representation of data that adheres to a particular arithmetic rule. Divergent sequences are those where the terms never stabilize but instead continuously increase or decrease as n approaches infinity, approaching either infinity or -infinity.

Calculation:

My brother loaned me $30. I must pay $2 every day that I don't pay.

Then, the phrase for the total amount I owe my brother is: Let the number of days I don't pay for be x.

Total = 30 plus 2x

The sum that must be paid on day 22 is therefore Total = 30 + 2(22)

= 30 + 44 = 74.

So on day 22, I owe my brother $74 in total.

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According to the data set below, what was the GDP per capita in the United States in 2017? Round your answer to the nearest whole dollar.

United States Real GDP and Population, 2013-2017
Year - Real GDP in US dollars - Population
2013 | $16,691,500,000,000 | 316,234,505
2014 | $17,427,600,000,000 | 318,622,525
2015 | $18,120,700,000,000 | 321,039,839
2016 | $18,624,500,000,000 | 323,405,935
2017 | $19,390,600,000,000 | 325,719,178

Answers

The GDP per capita in the United States in 2017 was approximately $59,647.

What was the approximate per capita GDP in the United States in 2017?

To calculate the GDP per capita, we divide the real GDP of the United States in 2017 ($19,390,600,000,000) by the population in the same year (325,719,178). This calculation yields a GDP per capita of approximately $59,647.

GDP per capita is a measure that provides insight into the economic well-being of a country's residents on average. It represents the value of goods and services produced per person in a given year.

In the case of the United States in 2017, the GDP per capita indicates that, on average, each resident would have earned approximately $59,647 if the country's GDP were distributed equally among its population.

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One benefit of going to work instead of college after graduation is (5 points)
O higher income potential
O earning money now
o the cost of tuition
more free time

Answers

Answer:

earning money now.

Explanation:

the sooner you start working, the more money you’ll have rather than getting paid nothing while going to college.

Answer:

B

Explanation:

Click this link to view O*NET’s Work Context section for Financial Analysts. Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are some common work contexts for Financial Analysts? Check all that apply.

a. indoors, environmentally controlled
b. face-to-face discussions
c. electronic mail
d. extremely bright lighting
e. cramped work space
f. spend time bending or twisting the body

Answers

The work context for financial analysts includes indoors, environmentally controlled, face-to-face discussions, and electronic mail.

Financial analysts are involved in the duties to provide businesses with guidance regarding their fund management, the performance of financial instruments, and financial market assessment.  

According to O*NET, financial analyst performs their activities in indoor premises that have a controlling work environment in terms of work ethics and culture.

Another task of financial analysts is to have face-to-face discussions while meetings or presentations with investors and clients of the business regarding business financial goals and profitability.

Electronic mail is also used by analysts to coordinate with other departments and gather financial information.

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Answer:A,B,F

Explanation:Trust

Four year universities are the only type of school worth attending. True False​

Answers

Answer:

false

Explanation:

Answer:

false

Explanation:

there are a number of other reliable schooling options

what is local technology​

Answers

Local Technology is an IT services company focused on building businesses through leveraging the best technology solutions.

Discuss what you think are the most important of these tools and why you think they’re valuable.

Use those tools and identify a successful portfolio of stocks/bonds/mutual funds.

Explain why you selected your portfolio and how the research tools helped you identify them.

Describe your reasons these will make good long-term investments.

Conclusion


Each one is a paragraph! (Ill give brainiest to every response:D)

Answers

A free-market economy includes elements such as the stock market. It enables businesses to raise funds by selling stock shares and corporate bonds, and it gives investors a chance to profit from the business's financial success through capital gains and dividend payments.

What is the most important tool?

Some of the indicators for the stock market include On-Balance Volume, Accumulation/Distribution Line, Average Directional Index, Aroon Indicator, MACD, Relative Strength Index, and Stochastic Oscillator.

The most popular technical indicator among them is the MACD (Moving-Average Convergence/Divergence) line. The MACD line examines a stock's short- and long-term momentum to predict its future direction.

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The organizational structure and organizational culture of a firm are often interrelated. With any organization of your choice, examine what you believe to be their organizational structure and using all three levels of organizational culture to illustrate your points, draw links between the organizational culture and its organizational structure to illustrate how these two aspects of a firm can be intertwined.

Answers

The correct answer to this open question is the following.

I would like to choose the company called "Coops," a Swiss firm dedicated to operating supermarkets in Switzerland and other parts of Central Europe.

Their organizational structure is almost flat, with a dominant matrix work relationship that allows the management and the workers to have more direct and open lines of communication. This kind of organizational structure helps to have a more strong interrelation with the corporative culture in that employees feel more comfortable to establish communication with the hierarchy, are confidente that their opinions and suggestions are going to be taken into consideration, and this organizational climate allows for permanent feedback. This concept strengthens the corporate culture because employees are happy in the workplace, makes them more efficient and productive, behaviors that benefit the company because it allows it to have better results. And more importantly, these happy employees reflect their attitude when they are serving the consumers.

why are medical related professions and human resources important?​

Answers

Answer:

because sometimes they help us to get some medicine which can be used to cure a particular disease

to synthesize means to condense information

Answers

Answer:

false?

Explanation:

synthesize means to combine

condense means to make to make shorter

1. Average Cost
Jesaki Water Sports incurs the following costs in producing x water ski vests in one day, for 0 fixed costs, $303;
unit production cost, $21 per vest;
equipment maintenance and repairs, 0.03 x2 dollars.
Find the minimum average cost of a water ski vest. Round to the nearest cent. $ per vest

Answers

The minimum average cost of a water ski vest is $21.03 per vest.

The total cost consists of the fixed cost, unit production cost, and equipment maintenance and repairs cost. Fixed cost: $0Unit production cost: $21 per vest Equipment maintenance and repairs cost: $0.03 x^2 dollars (where x is the number of vests produced) The average cost is given by the formula: Average Cost = (Fixed Cost + Total Variable Cost) / Number of Vests In this case, the fixed cost is $0 and the total variable cost includes the unit production cost and equipment maintenance and repairs cost. So, the total variable cost is $21 + 0.03x^2 dollars. Therefore, the average cost function becomes: Average Cost = (0 + 21 + 0.03x^2) / x After solving for x, we find that the minimum average cost occurs at x = 1. Taking this value of x and plugging it back into the average cost function, we get: Average Cost = (0 + 21 + 0.03(1)^2) / 1 = $21.03

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Fill the Blank ,the account allowance for uncollectible accounts normally has a _______

Answers

The account allowance for uncollectible accounts normally has a "Credit Balance". Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts.

Sometimes referred to as the allowance for questionable accounts, which is a contra-asset account. The balance sheet shows the allowance account as a decrease from accounts receivable, which represents the anticipated net amount of client payments. Because it lowers the amount of accounts receivable that are recorded on the balance sheet, the allowance account typically has a credit balance. The allowance account balance is deducted and the accompanying accounts receivable balance is credited when a certain account is determined to be uncollectible.

Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts, sometimes referred to as the allowance for questionable accounts, which is a contra-asset account.

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Moving to another question will save this response. restion 15 "In case of Murabaha financing, if the customer defaults on payment, can a penalty be levied? Explain. Answer in no less than 50 words.

Answers

In case of Murabaha financing, a penalty can be levied if the customer defaults on payment. However, the penalty should be a genuine pre-estimate of the actual damages suffered by the bank due to the default and not a punitive measure.

In other words, the penalty should be a reasonable compensation to the bank for the loss incurred due to the default by the customer.

The concept of Murabaha financing is a widely used Islamic financing method that is based on the principle of cost-plus-profit. In this method, the bank purchases the asset or commodity that the customer requires and then sells it to the customer at a higher price that includes a profit margin agreed upon by both parties.

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would anyone be willing to give away tickets for a concert please?

Answers

No sidhdbjwoqownebsbeuehsba eishdbejso
what concert tho haha Hasjda
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