On September 1, 2016, Joy Company paid $6,000 in advance for an eight-month rental space covering the period of September, 2016 through April 2017. The deferred expense was initially recorded as an asset. Joy Company makes adjusting entries once a year at year-end. The adjusting entry on December 31, 2016 would include a .

                           DR.          CR.

Rent Expense   $3,000

Prepaid Rent                   $3,000

Explanation:

Rent paid in advance = $6,000

Rent paid for the period of 8 months. On December 31, 4 months has been passed. So the rent of only 4 month will be accrued.

Accrued Rent = $6,000 x ( 4 / 8)

Accrued Rent = $3,000

Expense accrued and transferred from the prepaid rent account to rent expense account.

engine assembler, survey reasearcher, auditor

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3