题目内容
What type of account is Prepaid Rent and what is its normal balance?
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A company received $5,000 for 100 one-year subscriptions on July 1. The journal entry to record this cash receipt would include a:
Henry Tax Planning Service bought computer equipment for $24,000 on January 1, 2014. It has an estimated useful life of 4 years and zero residual value. Henry uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. Calculate the amount of Depreciation Expense for the period, January 1, 2014 through September 30, 2014, for this equipment.
Henry Tax Planning Service bought communications equipment for $9,600 on January 1, 2015. It has an estimated useful life of 5 years and zero residual value. Henry uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. As of June 30, 2015, the balance in the Accumulated Depreciation account for this equipment is:
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