If a company purchases equipment with cash, its total assets will increase

Stancil Enterprises prepaid four months of office rent totaling $9,000 on October 1, 2017. Assuming Stancil records deferred expenses using the alternative treatment, what would be the adjusting entry recorded on December 31, 2017?

A) Debit Rent Expense and credit Prepaid Rent for $6,750 B) No entry is needed since Rent Expense was recorded on October 1, 2017 C) Debit Prepaid Rent and credit Rent Expense for $2,250 D) Debit Prepaid Rent and credit Rent Expense for $27,000

Harrison, an employee of Saft Associates, Inc, has gross salary for March of $4,000

The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Harrison has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the disbursement of his net pay? A) credit to Salaries and Wages Payable B) debit to United Way Payable C) debit to FICA Taxes Payable D) credit to Cash