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Why did I get these two quiz questions wrong? Please show the full journal entries Question 2 0 out of 4 points AW Consulting signs
Why did I get these two quiz questions wrong? Please show the full journal entries
Question 2 0 out of 4 points AW Consulting signs a lease agreement on January 1, 2012 to rent a copier. The agreement states that AW must make the following payments on the last day of each month: January) $400; February) $100; March) $300; Apri) $100; and May) S500. AW plans to use the copier continuously throughout the five months and must return the copier in good shape on June 1. At 3/31/12, the balance in Rent Payable (for this copier) should be: Selected Answer: S0.00 Answers: $0.00 $20.00 CREDIT balance $40.00 CREDIT balance $60.00 CREDIT balance Question 3 4 out of 4 points AW Consulting signs a lease agreement on January 1,2012 to rent a copier. The agreement states that AW must make the following payments on the last day of each month: January) $400; February) $100; March) $300; April) $100; and May) S500. AW plans to use the copier continuously throughout the five months and must return the copier in good shape on June 1. At 2/29/12, the balance in Prepaid Rent (for this copier) should be: Selected Answer: So.00 $0.00 $60.00 DEBIT balance $60.00 CREDIT balance $180.00 CREDIT balance Answers: Question 4 0 out of 4 points AW Consulting signs a lease agreement on January 1, 2012 to rent a copier. The agreement states that AW must make the following payments on the last day of each month: January) $400; February) $100; March) S300; April) $100; and May) $500. AW plans to use the copier continuously throughout the five months and must return the copier in good shape on June 1. At 1/31/12, AW should have rent expense (for this copier) in the amount of: $400 $1,400 $400 Selected Answer: Answers: $100
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