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erastovalidia [21]
3 years ago
8

On December 31, 2017, Coolwear, Inc. had a balance in its prepaid insurance account of $48,400. During 2018, $86,000 was paid fo

r insurance.
At the end of 2018, after adjusting entries were recorded, the balance in the prepaid insurance account was 42,000. Insurance expense for 2018 would be:

(A) $92,400.

(B) $6,400.

(C) $134,400.

(D) $86,000.
Business
1 answer:
Diano4ka-milaya [45]3 years ago
3 0

Answer:

Insurance expense will be $92400

So option (a) will be correct option

Explanation:

We have given balance in prepaid insurance = $48400

Insurance paid in 2018 = $86400

Ending prepaid insurance balance = $42000

We have to find the insurance expense for 2018

Insurance expense for 2018 is given by

Insurance expense = $48400+$86400-$42000 = $92400

So option (a) will be the correct answer

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People often have different suggestions and may or may not agree with each other. Due to groupthink, Amaya did not voice her concern as she did not want to appear unsupportive of the team.

  • Groupthink is known to be a situation that takes place when a group of individuals arrive at a consensus without critical reasoning or looking into the repercussions or alternatives.

It is often based on a common desire not to anger the balance of a group of people.

It can also be regarded as a psychological phenomenon where individual strive to meet a consensus within a group.

Learn more about Groupthink from

brainly.com/question/10206116

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3 years ago
What is the capitalism
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Answer:

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Explanation:

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3 years ago
All of the following are alternative forms of institutional advertisements EXCEPT:
forsale [732]

Answer: B. Public Service

Explanation:

There are 4 alternative forms of institutional advertisements being;

  1. Competitive - These types of adverts aim to show that the product presented is better than that of the competitor by showcasing its benefits and features.
  2. Reminder - As the term implies, this advertisement is meant to remind you. Remind you of the product being offered and how it has been beneficial to you.
  3. Pioneering - This is for products that are just starting out and need to be introduced to inform the market of its existence.
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These are the four alternative forms of institutional advertisements and Public Service is not one of them.

4 0
3 years ago
Which of the following is a deductible loss for income tax purposes?
shutvik [7]

Answer:

d. Net long-term capital losses in excess of $3,000.

Explanation:

A net long-term capital losses in excess of $3,000 is a deductible loss for income tax purposes.

For instance, in a tax year, if an individual has up to $3,000 of net long-term capital losses, this would be considered a form of income rather than a capital gain.

Furthermore, if an individual accrues a net long-term capital losses in excess of $3,000, this loss is deductible and are carried over indefinitely to subsequent tax payments in the future.

6 0
3 years ago
Pete qualifies for a home office deduction. The amount of space devoted to business use is 300 square feet of the total 1,200 sq
mote1985 [20]

Answer:

Rent is $2400

utilities other than cellphone is $625

Total home office expenses is $3025

Explanation:

firstly we need to calculate the percentage of how much in total does the office take in the apartment so we will say (300 square feet/1200 square feet) x 100

which is 25% so then to get the rental expense of the office we will say :

25%x$9600 = $2400 we say 25% which is office space in the apartment multiplied by the total apartment rental to get the office rent expense.

Then for the utilities we will say 25%x$2500 = $625 we multiply like this because the office uses 25% of all the apartment utilities .

thereafter the total home office expenses is the sum  of both the rental office expense plus the the utilities other than telephone for the home office expense:

$625 + $2400 = $3025 then we get total home office expenses.

8 0
3 years ago
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