On August 1,2011,Xcel Auto Repair Paid $6,000 in Advance for Six

question 76

Essay

On August 1,2011,Xcel Auto Repair paid $6,000 in advance for six months' rent.Xcel makes proper adjusting entries at the end of every month.What is the balance of Prepaid rent on December 31,2011?
A) $6,000
B) $1,000
C) $2,000
D) $4,000

• A) $6,000
• B) $1,000
• C) $2,000
• D) $4,000

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Definitions:

Homogeneous Group

A group comprised of members who have similar characteristics, background, or traits.

Developmental Group

A collection of individuals grouped together based on their developmental stage or progress.

Heterogeneous Group

A group composed of members with differing characteristics, such as age, gender, background, skills, and opinions.

Asynchronous Group

pertains to a group in which members interact and communicate without the necessity of being online at the same time, enabling participation according to individual schedules.