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solong [7]
2 years ago
11

Diane's Designs purchased a one-year liability insurance policy on March 1 of a year for $8,400 and recorded it as a prepaid exp

ense. Which of the following amounts would be recorded as insurance expense during the adjusting process at the end of Diane's first month of operations on March 31?a. $320. b. $3,520.c. $3,840.d. $384.
Business
1 answer:
Liula [17]2 years ago
5 0

Answer:

$700 (not given in the options)

Explanation:

When the policy is purchased with a payment made in advance, the entries recorded are

Debit prepaid insurance  $8,400

Credit Cash account         $8,400

After the first month, the expense incurred is

= 1/12 × $8,400

= $700

Entries then required

Debit Insurance expense   $700

Credit Prepaid Insurance    $700

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Black_prince [1.1K]

Answer:

the increase in free trade among nations and technological changes have created globalization and increased competition.

Explanation:

The global environment impacts the other environment like economic, legal and social as there should be rise in the free trade that should be between the nations also there is a technological changes that developed the globalization due to which the competition should be increased

therefore the above statement is correct

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2 years ago
Tito Company reports a $20,000 increase in inventory and a $5,000 decrease in accounts payable during the year. Cost of Goods So
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In order to find cash paid to suppliers we start from the cost of goods sold, add any increase in inventory to it, subtract any decrease in inventory, add any decrease in accounts payable, subtract any increase in accounts payable.

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2 years ago
Holding everything else constant, a decrease in the price of bicycles will result in a. a decrease in the quantity of bicycles d
vladimir2022 [97]

Answer:

d. an increase in the quantity of bicycles demanded.

Explanation:

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According to the law of demand, when the price of the good increases the quantity demanded of that good would be decreased keeping other things constant and when the price of the good decreases the quantity demanded of that good would be increased keeping other things constant.

It reflects the inverse relationship between the price and the quantity demanded of the good.

4 0
2 years ago
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Answer:

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3 0
3 years ago
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HACTEHA [7]

Answer:

The answer is B.F. Skinner.  

Explanation:

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