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kykrilka [37]
3 years ago
7

Yummy Foods purchased a two-year fire and extended coverage insurance policy on August 1, 2016, and charged the $4,320 premium t

o Insurance expense. At its December 31, 2016, year-end, Yummy Foods would record which of the following adjusting entries?
Insurance expense

900

Prepaid insurance

3,420

Insurance payable

4,320



Insurance expense

900

Prepaid insurance

900



Prepaid insurance

900

Insurance expense

900



Prepaid insurance

3,420

Insurance expense

3,420
Business
1 answer:
Sati [7]3 years ago
6 0

Answer:

Prepaid insurance.......Dr 3,420

To Insurance expense 3,420

(being only 5 months of expenditure to be charged current year and rest to be show as prepaid expenditure)

Explanation:

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Occurs when people give up something in order to receive something that they would rather have?
kap26 [50]
That would probably be trade. :)
3 0
2 years ago
Severance pay plans grant employees weekly benefits in addition to state unemployment compensation. True
Yanka [14]

Answer:

False

Explanation:

In simple words, Severance pay can be understood as a salary and/or incentives given to an individual by a company after the job is over. In order to help an individual obtain a new job, severance arrangements can include additional rewards, such as life care and observer ship support.

Thus, the weekly benefits are not included in this and the above statement is incorrect.

4 0
3 years ago
Complete the statements and then calculate the change in consumption. The consumption function shows the relationship between co
White raven [17]

Answer:

Disposible income.

Marginal propensity to consume.

Disposible income, marginal propensity to consume.

The consumption will increase by  $800

Explanation:

The consumption function shows the relationship between consumption spending and disposible income.

The slope of the consumption function is the marginal propensity to consume.

Changes in consumption can be predicted by multiplying the change in disposible income by the marginal propensity to consume.

Given:  MPC = 0.80

           Disposible income increases by $1,000

consumption increase =  0.80*$1000

                                     = $800

Therefore, The consumption will increase by  $800.

7 0
2 years ago
International Food Services (IFS) has a contract with the Marines to supply meals for its troops in Afghanistan and other foreig
andrezito [222]

Answer:

C, the board of directors of IFS

Explanation:

The board of the IFS is ultimately responsible for the corporate climate that resulted in the use of substandard ingredients in the meals meant for the troops.

This is because the directors are the ones at the helm of affairs and they decide what happens in the IFS. This means that at least one of the directors is aware of the use of substandard ingredients . It can be said that if one knows, all other know. This phrase convieniently indicts the directors.

Cheers.

4 0
2 years ago
Natural rate. the natural rate of unemployment in europe is normally twice and at times three times that of the usa. can you exp
Stels [109]

The unemployment charge is the critical indicator which could degree the price of unemployed humans inside the overall labor pressure of the economy.

The unemployment rate would bring about the quantity of people unemployed inside the economy. The unemployment would also have a change off with inflation and is known as philips curve. The unemployment could bring about the fraction of people unemployed inside the economy.

The natural fee of unemployment would be the unemployment level at the whole employment degree in the financial system. The natural fee of unemployment would result in the sum of frictional and the structural unemployment within the economic system.

The increase in the frictional unemployment would result in the increase inside the herbal rate of unemployment as humans might also shift to higher research leaving job or can be unemployed in the transition whilst moving from one process to any other. thus, growth inside the frictional unemployment might bring about the growth in the unemployment within the economic system thereby growing herbal price of unemployment.

Learn more about unemployment here :- brainly.com/question/305041

#SPJ4

7 0
1 year ago
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