Answer:
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Explanation:
Given;
Insurance policy was purchased on July 10 to run for 3 years.
Cost of policy = $72,000
Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)
Monthly depreciation = $72,000/(3 × 12)
= $2,000
Total amortization between August and December = 5 × $2,000
= $10,000
Journal entries
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Answer:
Dave's team is now in the fifth and the last stage.
Explanation:
There are a total of five stages in team development are as follows
1. Forming: At this stage, the creation of a new group starts, where the members appear collectively and become to understand each other during the communications.
2. Storming: Once the forming stage is completed, the people will start communicating with each other in the context of the responsibility to be performed.
3. Norming: Once the duty of each member is cleared along with the power and responsibility, the group members begin settling in a society.
4. Performing: At this stage, synergy gets built between the group members, where each and everyone acts towards the fulfillment of an objective.
5. Adjourning: This is the fifth and the last stage of group development, where the group is eliminated, and the group members are isolated from each other.
Thus, Dave's team is now in the fifth and the last stage of team development as Dave has arranged a catered lunch for his team members to celebrate last time with his group before separated from each other which is done in the fifth stage is Adjourning stage of team development.
Answer:
Eurenasia is a country that has frequently been assigned low macro-assessment ratings of country risk in the recent past due to its tendency to war with neighboring nations. MNC A is considering the establishment of a subsidiary to manufacture personal computers, while MNC B is considering the establishment of a subsidiary to manufacture tanks. Which of the two MNCs is likely to be less affected by the low macro-assessment?
Option B is correct - MNC B will be less affected by low macro-assessment.
Explanation:
Due to the tendency of Eurenasi to war with neighboring countries, the manufacture of tanks by MNC B will be less affected by low macro-assessment because, during war periods, tank sales will increase. Whereas, Low macro assessment will affect MNC A because it selling computers will be affected by war.
Therefore, Option B is correct - MNC B will be less affected by low macro-assessment.
Answer:
D)record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold.
Explanation:
perpetual inventory system can be regarded as an inventory management method which involves the recording of real time transaction of stocks by application of technology , both sold and received stocks. This method has great efficiency compare to periodic inventory system. It should be noted that Under the perpetual inventory system, in addition to making the entry to record a sale, a company would record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold.
School rules are similar to federal laws because they both (try) to restrict people from doing harmful or bad things. A typical American high school with out rules, or any consequences for breaking them would be anarchy. Kids could bully one another, fight each other, ruin school property with spray paint, fire, etc. They also might not do their homework, or school work in general. It depends on the kid with out rules. Some kids might go crazy, some kids might stay calm and collected.
