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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli

Cerrena [4.2K]

Answer:

The balance in Eve's prepaid insurance account as of December 2021 is $18000 as shown below.

Explanation:

The balance of prepaid insurance would be the balance left after 12 months expense has taken from both amounts

Liability policy $36000*6/18=$12000

Crop damage policy $12000*12/24=$6000

Balance of prepaid insurance $18,000

The balance of $18000 would be left in the prepaid insurance account,whereas the balance damage crop policy account would be enough for the coming year, there is a need for 6 months insurance policy payment in respect of liability policy in the year 2022

6 0

4 years ago

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional

Aleks04 [339]

Answer:

22.98%

Explanation:

Here, the current entry means the ratio between the long term debt and the total assets

In mathematically,

= Long term debt ÷ total assets

where,

Total assets = Account receivable + cash + inventories + net fixed assets

= $397,400 + $47,500 + $288,000 + $999,000

= $1,731,900

And, the long term debt is $398,024

Now put these values to the above formula

So, the ratio would equal to

= $398,024 ÷ $1,731,900

= 22.98%

6 0

3 years ago

The city of Brittainville’s Special Revenue Fund levied $350,000 in taxes, of which 1% was expected to be uncollectible during t

Arturiano [62]

Answer:

fund balance will increase by $404,000

Explanation:

Given data:

Fund levived in taxes $350,000

1% of fund expected to be uncollectible

Amount of fund collected $7500 as interest revenue

$ 50,000 transferred to general fund

As it is given 1% is uncollectible , remaining value would be

= $350,000- $3,500 (1% * $350,000)

= $346,500

The other inflows are $7,500 + $50,000,

Total inflow is = $57,500.

Total transaction = $346,500 + $57,500 = $404,000

8 0

3 years ago

Allise Industries manufactures and exports copper wiring to markets all over the world. It has adopted an advertising organizati

Scrat [10]

Answer:

Letter B is correct. <u>Decentralized</u>.

Explanation:

A decentralized organizational structure has as its main feature the flexible hierarchy, ie <u>decision making is also shared with the lower hierarchical levels.</u>

<u> </u>This structure model has the advantage of motivating employees, who feel valued and fundamental to organizational success. Another advantage of decentralization is the flexibility to deal with new marketing challenges and the speed of decision making, which aids in business opportunity costs.

4 0

4 years ago

Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his pre

malfutka [58]

Scott was denied the loan because he was not old enough to qualify.

<h3>What is the Payday loan?</h3>

Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.

According to the above situation, Scott is cannot get the payback loan because he is minor to sanction a loan. He must have the age of 18 years or above.

Learn more about payday loan here:

brainly.com/question/3949419

#SPJ1

4 0

2 years ago

When Track Changes has been used to edit a document, any insertions are _____.