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 1 Starbucks will
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:
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.