1 answer

Why is this the correct answer? on 4st Faicen Company paid S10,oo cash for 5 months...

Question:

on 4st Faicen Company paid S10,oo cash for 5 months coouid this event astect he of rent (Sonuacuy thre au Ho accounhng eqvo-thon2, A T+al Lialoilities wauid increase B. Tota assers ouid decrease Total assers usouid remaun unchan XDTotal assers wouid inceease me corcect ansusecis Ois the correct ansuwer because Why is this the correct answer?
on 4st Faicen Company paid S10,oo cash for 5 months coouid this event astect he of rent (Sonuacuy thre au Ho accounhng eqvo-thon2, A T+al Lialoilities wauid increase B. Tota assers ouid decrease Total assers usouid remaun unchan XDTotal assers wouid inceease me corcect ansusecis Ois the correct ansuwer because

Answers

Rent paid on 1 January for January to May is the rent paid in advance. Rent paid in advance is also an asset and cash paid is also an asset. Since one asset i.e cash is decreased and other asset i.e rent paid in advance is increased. Therefore, there is no change in asset. The assets would remain unchanged.

Correct answer: C.

Total assets would remain unchanged.

.

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