On june 1, 2019, cain company, a new firm, paid $8,400 rent in advance for a seven-month period. the $8,400 was debited to the prepaid rent account. on june 1, 2019, the firm bought supplies for $10,250. the $10,250 was debited to the supplies account. an inventory of supplies at the end of june showed that items costing $5,960 were on hand. on june 1, 2019, the firm bought equipment costing $72,900. the equipment has an expected useful life of 9 years and no salvage value. the firm will use the straight-line method of depreciation.

The Journal entries are as follows:

(i) On June 30, 2019

Rent expense(8,400 ÷ 7) A/c     Dr. $1,200

To prepaid Expense                                     $1,200

(To record the rent expense)

(ii) On June 30, 2019

Supplies expense A/c [$10,250 - $5,960]   Dr. $4,290

To supplies                                                                        $4,290

(To record the supplies expense)

(iii) On June 30, 2019

Depreciation Expense A/c [(72,900 ÷ 9) ÷ 12]   Dr. $675

To Accumulated depreciation-Equipment                       $675

(To record the depreciation expense)

what

explanation:

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi