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Vedmedyk [2.9K]
2 years ago
8

The income statement of Dolan Corporation for 2012 included the following items:

Business
1 answer:
torisob [31]2 years ago
8 0

Answer:

C) $16,000.

Explanation:

cash paid for insurance premiums = total insurance expense + ending balance of prepaid insurance - beginning balance of prepaid insurance

cash paid for insurance premiums = $15,200 + $3,000 - $2,200 = $16,000

Generally when you purchase an insurance policy you can either pay every month or pay for several months in advance and get a discount. When you pay for several months in advance, you must debit prepaid insurance. Then as time passes, you must accrue insurance expense. For e.g. you pay $2,400 today for a 1 year insurance premium, and at the end of the month you will accrue $200 of insurance expense. But your cash payment was made today.

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The answer you are looking for is false

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Answer and Explanation:

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As a company grows, it may become necessary for it to create an ______
viva [34]

<u>Answer:</u>

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<u>Explanation:</u>

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What was this product's net operating income (loss) last year? last year minden company introduced a new product and sold 15,000
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Answer:

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2. What is the product's Break even point in unit sales and dollars

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Explanation:

Please see attached detailed solution to the above questions and answers.

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3 years ago
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