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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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6. On February 1, Ann sends Bob a letter offering to employ Bob at Ann’s auto dealership. On February 5, Bob mails Ann a letter
Radda [10]

Answer: A Contract was formed on February 5th

Explanation:

The contract was formed the very day that Bob mailed Ann his acceptance which was on the 5th of February.

Ann attempted to revoke the acceptance too late as she did it a day after he had emailed his acceptance even though she only received it on the 7th.

The date she received the acceptance is of no consequence because this falls under the Posting Rule. This rule in Common Law countries essentially states an agreement is made as soon as the letter is posted even if it never gets to it's destination.

6 0
3 years ago
A successful organization can involve its employees in the control system in all of the following ways EXCEPT
stiks02 [169]

D) regulating its behavior; involving employees in the control system is good for an organization but except in regulating its behavior.

More about Organizational Control System:

Organizational control system is crucial to understanding how the organization is doing, spotting problem areas, and then taking the necessary action.

There are three basic types of control systems available to executives:

Output control : The focus of output control is on quantifiable results for the organization. In output control, executives must choose the acceptable performance threshold, inform staff members of the general expectations, monitor whether performance metrics are in line with targets, and make any necessary adjustments.

Behavioral control: In contrast to output control, which focuses on results, behavioral control typically focuses on controlling the activities. Particularly, special procedures and regulations are utilized to shape or impose behavior.

Clan control: Clan control is a non-standardized type of control. It depends on shared traditions, expectations, values, and norms.

Complete Question:

A successful organization can involve its employees in the control system in all of the following ways EXCEPT

A) setting realistic performance results.

B) emphasizing development and improvement.

C) encouraging good communication and mutual participation.

D) regulating its behavior.

E) presenting data in understandable terms.

Learn more about Control System here:

brainly.com/question/26695325

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8 0
1 year ago
Airbase is a consumer electronics company known for its affordable mobile devices that follows a cost-leadership strategy. In th
lapo4ka [179]

Answer: 4. a consumer electronics company popular among price-conscious customers.

Explanation: Companies who thread a cost-leadership strategy or path could be said to be 'price-centric', that is gives price huge cognizance and will strive to be a market or industry leader when it comes to giving best and most affordable prices on products.

Thus, since Airbase follows a cost leadership strategy and also popular among consumers for its affordable devices, it should also weigh or compare it's strategy to other consumer electronics company which is popular among consumers which gives cognizance to price of products they purchase.

5 0
3 years ago
A response strategy requires suppliers be selected based primarily on A. being willing to share information. B. capacity, speed,
soldi70 [24.7K]

Answer:

D

Explanation:

Hope this helps

4 0
2 years ago
A sporting equipment store expects to purchase $8,600 of ski boots in October. The store had $2,400 of ski boots in merchandise
Kobotan [32]

Answer:

the budgeted cost of goods sold is $9,600

Explanation:

The computation of the budgeted cost of goods sold is shown below:

As we know that

Budgeted cost of goods sold = Beginning inventory + Purchase - Ending Inventory

= $2,400 + $8,600 - $1,400

= $9,600

Hence, the budgeted cost of goods sold is $9,600

7 0
2 years ago
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