Answer:
Explanation:
The journal entry is shown below:
On July 1
Prepaid Insurance A/c Dr $10,480
To Cash A/c $10,480
(Being prepaid insurance is paid)
On December 31
Insurance expense A/c Dr $2,620
To Prepaid Insurance $2,620
(Being prepaid insurance is adjusted)
The computation is shown below:
= $10,480 ÷ 2 years × 6 months ÷ 12 months
= $2,620
Answer:
What is the difference between marketing and merchandising? How do each of these concepts fulfill a different function in the business world? Explain and provide a real-world example of each.
It was because of the Great Recession. This financial crisis caused several governmental policies regarding federal funds to be restructured (although changes in the policies were already in discussion even before the disaster). Since then, the federal funds rate has always been near to zero and basically negligible. Hence the Great Recession of 2008 was the reason behind the last federal funds transaction being in 2008.
Explanation:
This question is imprecise, because the reason for the existence of business is to satisfy the needs of consumers, being characterized as an economic activity whose main objective is to generate profits.
Therefore, the economic needs of society are not met by companies at the expense of the suffering imposed on their customers, since the goods and services produced exist to satisfy the human needs necessary for a better quality of life.
It is also important to emphasize that, currently, there is a new interaction between company and consumer, where there is a much more direct relationship, where there is a social demand that companies be much more than just profitable entities, consumers expect companies to exercise a social role of contributing to the social and environmental development of the macroenvironment in which it is inserted. Therefore, a company that does not exercise corporate governance in the globalized world, has little conditions to remain in the market in the long run.
Answer:
Dr Loss on impairment 8,700
Cr Debt investment 8,700
Explanation:
Yayai didn't purchase Schuyler's bonds to trade them, they purchased them as a held-to-maturity investment, so they are reported in the Debt investments account which has a debit balance (asset account). Since it decreases in value, it should be debited.
The loss on impairment account reports decreases in the net carrying value of assets, such as debt investments.
