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Aleonysh [2.5K]
3 years ago
5

Aurora Corporation operated without insurance coverage for the first month of 2019. Then, on February 1, 2019, the company paid

the $4,800 premium on a two-year insurance policy with benefits beginning on that date. The company uses the accrual basis. How much insurance expense will be reported on the company's income statement for the year ended December 31, 2019? a) $200 b) $2,200 c) $4.600 d) $4,800
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

Correct answer is letter B, $2,200

Explanation:

Using accrual basis method, revenue and expenses will be recognized when incurred.

The $4,800 is a 24 months policy, therefore we must compute the insurance expense applicable for the year covering from February 1 to December 31 (11 months)

An adjusting entry to recognize the expire portion of the insurance must be done at the year end in the amount of $2,200.

($4,800 / 24 months = $200 x 11 months = $2,200)

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Explain how, if at all, each of the following transactions generates two entries (a credit and a debit) in the American balance
marshall27 [118]

Answer:

(a) A U.S. resident buys shares of a Portuguese company paying via wire transfer from her Wells Fargo account to a Portuguese bank.

The US financial account is debited since the stocks were paid by a transfer from Wells Fargo bank.

The credit happens when the Portuguese bank lends the to a Portuguese company that imports goods from America.

(b) An Australian tourist rents a car in the U.S. and pays with her Australian credit card.

The payment received from the Australian tourist represents a credit in the US financial account.

The debit occurs when an American bank receiving the money from the Australian bank will then lend the money to an American company that imports goods.

(c) A U.S.-owned factory in Britain uses local earnings (i.e., in Britain) to buy additional equipment from a Britain firm.

This transaction doesn't affect the US financial account since the money was originated and spent in Britain.

8 0
3 years ago
___________ workplace violence involves assault by someone who is either a recipient or object of a service provided by the vict
Neko [114]

Answer:

Type II workplace violence involves assault by someone who is either a recipient or object of a service provided by the victim or the workplace.

Frequent victims of public order offenses are police or correctional personnel, bus, taxi, or railway drivers, health care providers.

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Typ II workplace violence is an act of aggression performed to both the recipients of the services or the service provider. They involve both fatal and no fatal injuries. Now, Public order offenses are a special type of aggressive acts to public service providers, in most of the cases police, correctional personnel, drivers, and health care providers. Only in situations in which they are the object of aggression.

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To record a sales transaction, use:
sergiy2304 [10]

To record a sales transaction, use create invoices- receive payment- make deposits.

<h3>What is sales transaction?</h3>

Sales Transaction means transactions consummated between a company and subscriber of its capital stock. It is the transfer of a company's asset to another after sales have been completed.

Hence, to record a sales transaction, use create invoices- receive payment- make deposits.

Learn more about sales transaction here : brainly.com/question/25347238

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The typical goals that Elliott will be expected to work toward in supporting any negotiations with the union includes:

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<h3>What is the role of the Union that She is working with?</h3>

The labor union is an association established for the interest of the workers.

The union helps to negotiate better pay, remuneration, healthy working hours with business owners on behalf of the workers.

However, in this case, Elliot will be expected to keeping operations flexible and retaining some control over schedules when working with the Union.

Read more about labor union

<em>brainly.com/question/881501</em>

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