My Course ose XCO Cougar Courses aa Patan Question 7 Joshua Thomas is the owner of Nexus Inc., a manufacturer and retailer of computer hardware. Joshua recently bought a new car as a gift for his daughter. Since Joshua paid for the car from the earnings of the business, he recorded it in the books of Nexus as an asset. Which of the following concepts or principles of accounting is Joshua violating? Select one a monetary unit assumption b. economic entity assumption c. periodicity assumption d.going concern assumption EXCOB Soy Pool 2.50 p Fler gostian Question 6 On November 1 of the current year, Anodel Inc, paid $45,000 for five months' rent of its office space at downtown covering November through next March. By December 31, its fiscal year- end what adjusting entry is required? Select one a Debit Prepaid rent credit Rent revenue. b. Debit Rent expense, credit Rent revenue. C Debit Prepaid rent, credit Rent expense. d. Debit Rent expense, credit Prepaid rent Previous page Next page