Answer:
The insurance expense for year 1 is $2,200.
Explanation:
The insurance expense for the year 1 is $2,200, which is for 11 months in the first year. The balance of $2,600 will be carried forward to the next year as prepaid insurance. The first entry is a debit to the Prepaid Insurance account for the sum of $4,800 and a credit to the Cash account for the same amount, in order to record the cash payment. In year 1, Insurance Expense account will be debited with $2,200 while Prepaid Insurance will be credited with the same amount, in order to record the expense.
Answer:
The total cash collected during January by LaGrange Corporation would be: $192,000
Explanation:
Total Credit Sales in December of the current year = $63,000/45% = $140,000
The total cash collected during January = Cash sales of January + 55% x Credit sales of January + 40% x Credit sales of December + uncollected November sales
The LaGrange Corporation has Cash sales of January of $40,000 and Credit sales of January of $140,000, uncollected November sales of $19,000
The total cash collected during January = $40,000 + 55% x $140,000 + 40% x $140,000 + $19,000 = $192,000
If he pays for the rights to use the name and logo of an existing deli company. The type of business is Shonda forming is: A. A franchise.
<h3>What is franchise?</h3>
Franchise can be defined as the way a person or a company is given the license or right to use a another company trade name or logo.
Based on the given scenario Shonda forming a franchise type of business because he was given the rights to use the name and logo of an existing deli company.
Therefore the type of business is Shonda forming is: A. A franchise.
Learn more about franchise here: brainly.com/question/3687222
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Answer: E. Learning Curve
Explanation: The learning curve is usually adopted in evaluating the association between cost and output over a certain period of time. The learning curve shows how usually indicates the changes in cost and output associated with a task as employees or workers start to engage in a certain task or function. Generally, initial task performance by an employee usually result in higher cost output with gradual reduction in cost becoming visible as the Repetition of such task is being embarked upon by the employee.
Answer:
XYZ Publishing Company is the owner of the cover design.
Explanation:
When a business or even an individual hires someone to work for a specific job, the outcome of that job belongs to the employer.
For example, if I hire a carpenter and ask him to manufacture a specific type of chair that I like. Even f the carpenter contributed to the design of the chair, the chair and its design belong to me since I paid for it. Even if for some reason a lot of people like my chars and they ask the carpenter to manufacture more chairs, he would need my authorization to do it.
