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zhenek [66]
3 years ago
10

What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance acc

ount is $9,050 before adjustment, and the unexpired amount per analysis of policies is $3,900?
Business
1 answer:
inessss [21]3 years ago
7 0

Explanation:

The adjusting entry is as follows

On December 31

Insurance expense A/c Dr $5,150

               To Prepaid insurance A/c $5,150

(Being the insurance expense is recorded)

It is computed below:

= Balance in prepaid insurance account - unexpired amount

= $9,050 - $3,900

= $5,150

While passing the adjusting entry we debited the insurance expense account and credited the prepaid insurance account

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3 years ago
ou have just read an explanation of the figures you studying as the total dollar value of final goods and services produced with
Shalnov [3]

Answer:

REAL GDP

Explanation:

GDP typically used as a variable to measure a nation's economic strength within a certain time period. But often time, the value of GDP is a little bit jaded. If the inflation is high, an increase in GDP doesn't really mean that the country become more productive.

This is why there are many experts prefers to use REAL GDP as a more accurate unit to measure the economic strength.

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3 years ago
If Roten Rooters, Inc., has an equity multiplier of 1.52, total asset turnover of 1.20, and a profit margin of 6.2 percent, what
Katarina [22]

Answer:

11.30%

Explanation:

Roten rooters have an equity multiplier of 1.52

The total assets turnover is 1.20

The profit margin is 6.2%

= 6.2/100

= 0.062

Therefore the ROE can be calculated as follows

= 0.062× 1.52×1.20

= 0.1130×100

= 11.30%

Hence the ROE is 11.30%

7 0
3 years ago
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Bookmark question for later Which of the following are NOT costs that are relevant to the "total cost to own" of a car? a. Fuel
harina [27]

The statement that are NOT costs that are relevant to the "total cost to own" of a car is: f. None of the above.

<h3>What is total cost?</h3>

Total cost is the cost generated or cost incurred for producing a product or the expenses incurred for owing a product such as car.

Total cost formula is:

Total cost=Fixed cost+ Variables cost

If a person own a car it is important to know that all the following are the total cost that will be relevant to the cost of owing a car are:

  • Fuel
  • Financing
  • Repair costs
  • Insurance
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Inconclusion the statement that are NOT costs that are relevant to the "total cost to own" of a car is: f. None of the above.

Learn more about total cost here:brainly.com/question/5168855

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2 years ago
State two differences between savings and investment
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Answer:

Savings: is setting aside money so you dont need to spend your money for anything, only for emergeincies. Investment: is when you are buying stocks or bonds your are making an investment.

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