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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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15. A market decline of 23% on a day when there is no significant macroeconomic event ______ consistent with the EMH because ___
gayaneshka [121]

<u>Answer:</u>Option c

<u>Explanation:</u>

Some of the macro economic event such as interest rates, unemployment, economic growth and inflation affects the stock markets .  If any of these events occur then market has its effect on it. EMH is the efficient market hypothesis that the asset prices reflect the market situation.

When the macroeconomic event has not taken place but there is market decline then EMH is not consistent with the event or the macro economic news.Market prices also reflect due to the latest information if any.

4 0
2 years ago
A buyer and a seller are disputing a contract for sale and purchase. They agree to submit the matter to a third party who will m
leonid [27]

Answer:

Arbitration

Explanation:

Based on the information provided within the question it can be said that this type of settlement is called Arbitration. This term refers to a form of resolving disputes outside of the court system by bringing in a third party who will render an "arbitration award" that will make a binding determination on the dispute. Which is completely enforceable in the courts.

3 0
3 years ago
If real GDP increased from $10 billion to $11 billion from the first quarter of 2016 to the first quarter of 2017, but had incre
Sphinxa [80]

Answer:

10%; 16%

Explanation:

Given that,

Real GDP in the first quarter of 2016 = $10 billion

Real GDP in the first quarter of 2017 = $11 billion

Increased from the fourth quarter of 2016 to the first quarter of 2017 = 4%

Growth rate from the first quarter of 2016 to first quarter of 2017:

= \frac{GDP_{2017}-GDP_{2016}  }{GDP_{2016}}\times 100

= \frac{11-10  }{10}}\times 100

= 10%

Real GDP growth rate is as follows:

= 4% × 4

= 16%

3 0
3 years ago
At best buy they have a 42" TV that sells for $1250 and is on sale 15% and sales tax is 6.5%.What is the final cost?
lys-0071 [83]
First, calculate the discount.

15% of 1250 is 187.5

Then, subtract 187.5 from 1250.
You get 1062.5

Next, to calculate the sales tax. I'm not 100% sure if you're supposed to do this before the discount or after, I'm just assuming after.

Anyway, 

6.5% of 1062.5 is approxamately 69.06.

Add that to 1062.5 to get the final answer of $1131.56
7 0
2 years ago
A company's environment consists of both a microenvironment and a macroenvironment — forces outside of marketing that affect a m
Kitty [74]

Answer:

<u>Macro-environment:</u>

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  • Monetary Downturn: As the economy eases back, less families can bear to send their children to tuition based school, bringing about expanded government funded school enlistments  

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6 0
3 years ago
Read 2 more answers
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