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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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Generally, the payment of an accelerated death benefit is _______ to a recipient if the benefit payment is qualified.
IrinaK [193]

The correct answer is Tax free.

An Accelerated Death Benefit (ADB) enables the holder of a life insurance policy to obtain a portion of the death benefit from the insurer before passing away. The policyholder must typically have a terminal illness with a life expectancy of two years or fewer.

<h3>How are benefits for hastened death paid?</h3>

A lump amount may be provided as part of some hastened death benefits. With a benefit for a terminal disease, this happens more frequently. Payments for chronic illnesses are more frequently made. According to Schelhaas, some accelerated death benefit riders are simple because they pay a specific portion of the death benefit.

To know more about Insurance , visit: brainly.com/question/27822778

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8 0
1 year ago
You were recently hired by RLM Inc. It is your job to prepare reports and analyze financial information related to the company.
Alex73 [517]

Answer:

d. management

Explanation:

Based on the job tasks described within the question it seems that you were recently hired as a management accountant. This role focuses on (like mentioned in the question) preparing reports and analyzing as much financial information as possible in order to best inform yourself, so that you can help you make the best and most strategic decisions for the organization. Which seems to by why RLM Inc. has hired you.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
2 years ago
Hiring decisions at Maarja's Razors are made by Maimu Maarja, the Director of Human Resources. Pay rates are approved by the Vic
barxatty [35]

Answer:

Effective

Explanation:

Segregation of duties (SOD) is an essential part of the effectiveness of internal controls for any business. This integral separation ensures that key processes are performed by more than one person to prevent fraud or financial misstatement. While technology continues to become more sophisticated, the time is now to implement controls that segregate key functions within processes such as cash disbursements, investments, payroll, and many other areas.

Maarja's Razors is implementing effectively the segregation of duties. Key processes are performed by more than one person, and this helps in flexibility of operations.

4 0
3 years ago
Read 2 more answers
Selected current year company information follows:
koban [17]

Answer:

b. 2.81 times

Explanation:

Calculation to determine Total stockholders' equity, end-of-year 121,851

Total asset turnover is:

First step is to calculate the Total assets

Beginning Ending

Total liabilities $83,932 $103,201

Total equity 198,935 121,851

Total assets $282,867 $225,052

Now let determine the Total asset turnover

Total asset turnover = $712,855/[($282,867 + $225,052)/2]

Total asset turnover= 2.81 Times

Therefore Total stockholders' equity, end-of-year 121,851

Total asset turnover is:2.81 Times

6 0
2 years ago
explain on how the media can influence public opinion of sports personalities in both a positive and a negative way...
BabaBlast [244]
It can influence public opinion in a positive way by showing classic stories of kids who come from poor families and how it motivated them to stay in school and perhaps even go to college. It can influence public opinion in a negative way by highlighting the use of dangerous performance enhancing drugs (steroids) as well as a hyper-macho culture which has sometimes been seen to encourage bullying or sexual assault.
8 0
3 years ago
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