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On June 1 2017 Starbucks paid the rent of $96000 for 50 of its stores in Washington and California The rent covers the period June 1 2017 through November 30 2017 On June 1Starbucks

On June 1, 2017, Starbucks paid the rent of $96,000 for 50 of its stores in Washington and California. The rent covers the period, June 1, 2017 through November 30, 2017. On June 1, Starbucks will record________. On June 30, Starbucks will record ________.

A.Prepaid Rent of $96,000; Rent Expense of $16,000

B.Rent Expense of $96,000; nothing

C.nothing; Rent Expense of $16,000

D.nothing; Rent Expense of $ 96 comma $96,000

A company has $800 in Prepaid Advertising before any adjustments. At the end of the year, an adjusting entry is made to debit Advertising Expense for $80. The ending balance in the Prepaid Advertising account will be:

A.$0.

B.$80.

C.$800

D.$720

All of the following are examples of a weak control environment EXCEPT:

A.lax ethical practices.

B.a weak or conflicted Board of Directors.

C.proper segregation of duties.

D.a domineering CEO.

 

Mar 23 2020 Read more Less More

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