Answer:
a. Debit Insurance Expense. $660, credit Prepaid Insurance, $660.
Explanation:
The adjusting entry is shown below:
Insurance expense Dr $660 ($3,300 ÷ 5 years)
To Prepaid insurance
(Being the insurance expense is recorded)
here we debited the insurance expense as it increased the expense and credited the prepaid insurance as it decreased the assets
Therefore the option a is correct
<span>Year Cash Flow
0 -$46,400
1 18,000
2 33,530
3 4,600</span>
<span>NPV = -$46,400 + $18,000 / (1 + 0.09) + $33,530 / (1 + 0.09)2 + $4,600 / (1 + 0.09)3 =
</span><span>-$1,574.41</span>
Answer and Explanation:
Her deductible loss is $27,000.
They created efficiencies that streamlined government.
