Answer:
Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400.
Explanation:
The journal entry is given below
Insurance expense A/c Dr $2,400
To Prepaid Insurance $2,400
(Being insurance expense is recorded)
The computation is shown below:
= Insurance premium ÷ number of months × required months
= $4,800 ÷ 4 months × 2 months
= $2,400 months
The 2 months is taken from November 1 to December 31
I guess the correct answer is consultative
The local skydiving team is buying new parachutes. The team's coach has invited all team members to make recommendations, after which he will select the successful vendor. The skydiving team's buying center has a(n) consultative organizational culture.
Answer:
transaction record and a reconciliation of the transactions
An adequate bank balance and a budget.
Legal guardianship of the person and power of attorney
Your documentation as payee for the person you support and the bankbook
Answer:
The expanding accounting equation is:
Assets = Liabilities + Stockholders Equity
[Common Stock + Retained Earnings]
(Revenues - Expenses - Dividends)
Now, we replace the amounts in the formula
$84,325 = $2,560 + X
[ X + R ]
($54,780 - $28,125 - $13,450)
$84,325 = $2,560 + X
[ X + R ]
($54,780 - $28,125 - $13,450)
$84,325 = $2,560 + X
[ X + $13,205 ]
$84,325 = $2,560 + X
[ 68,560 + $13,205 ]
$84,325 = $2,560 + $81,765
Both sides are now equal to $84,325
Thus, Common Stock = $68,560
Answer:
What is a partnership called in which several companies have joined forces to create a separate legal entity to facilitate doing business in a country where none of the participants is currently active?
Joint venture.
Explanation:
A partnership is a mutual agreement by two or more parties. The aim of a partnership is in the management and operation of a business and ultimately in the sharing of resources. There are different types of partnerships depending on how the parties involved decide to share their liabilities and profits. Generally partnerships can be formed by; individuals, businesses, non-profit organizations and even governments. There are many forms of partnerships that can be developed depending on what the parties agree to achieve as individuals or even as a group. On such type of partnership that will be considered is the Joint venture.
A joint venture is an agreement by two or more parties to pool their resources together to accomplish a common job. The completion of the task is usually of importance to each party. The parties usually contribute a specific resource to the projects. The resources can range from; labor, materials or even machinery. The value of resources from each party is usually determined to establish the cost and profits for each party. The responsibility in terms of costs and profits lie on each party, however the venture itself can be viewed as a separate legal entity.
