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astra-53 [7]
3 years ago
9

A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the

payment. The required adjusting journal entry on December 31 includes a:________
Business
1 answer:
Evgesh-ka [11]3 years ago
3 0

Answer:

The required adjusting journal entry on December 31 includes a:

Debit Insurance Expense $400

Credits Prepaid Insurance $400

Explanation:

On Dec. 1, a 12-month insurance policy was purchased and paid in advance for $4,800. The company records the insurance as the prepaid Insurance:

Debit Prepaid Insurance $4,800

Credit Cash $4,800

On December 31, the last day of the following 1 months, the company records an adjusting entry that Credits Prepaid Insurance for $400 ($4,800 divided by 12 months times the 1 months that will be prepaid as of December 31) and Debits Insurance Expense for $400

Debit Insurance Expense $400

Credits Prepaid Insurance $400

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A sole proprietor has limited liability
kykrilka [37]

Answer:false

Explanation: idk I only know the answer

8 0
3 years ago
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Companies use ____________ to check that enough work is scheduled for operations and that the amount of work scheduled is feasib
Veseljchak [2.6K]

Answer:

e) capacity requirement planning

Explanation:

Based on the information provided within the question it can be said that the term being mentioned is called capacity requirement planning. Like mentioned, this term refers to the process that a company undergoes in order to calculate how much of something it needs to achieve a goal and whether or not it is feasible. Which can also be used regarding work schedules like in this scenario.

7 0
3 years ago
projects variable labor costs of $21,500 in March when 8,600 units are produced. If production is expected to drop to 8,000 unit
dlinn [17]

Answer:

Total direct labor cost=$20,000

Explanation:

<u>First, we need to calculate the direct labor cost per unit:</u>

<u></u>

Direct labor cost per unit= total cost / number of units

Direct labor cost per unit= 21,500 / 8,600

Direct labor cost per unit= $2.5

<u>Now, the total cost for 8,000 units:</u>

Total direct labor cost= 2.5*8,000

Total direct labor cost=$20,000

4 0
3 years ago
Weston Corporation just paid a dividend of $3.75 a share (i.e., D0 = $3.75). The dividend is expected to grow 9% a year for the
Butoxors [25]

Answer:

D1 = $4.085

D2 = $4.46

D3 = $4.86

D4 = $5.01

D5 = $5.16

Explanation:

As per the data given in the question,

DO = $3.75

Dividend expected to grow = 9%

Dividend grow later = 4%

D1 = DO(1+ Dividend1) = $3.75(1+9%)  

=$3.75(1.09)

=$4.085

D2 = DO(1+ Dividend1 )( 1 + Dividend2)

= $3.75(1+9%)(1+9%)

= $4.46

D3 = DO(1+Dividend1)(1+Dividend2)(1+Dividend3)

= $3.75(1+9%)(1+9%)(1+9%)

= $4.86

D4 = DO(1+Dividend1)(1+Dividend2)(1+Dividend3)(1+Dividend later)

= $3.75(1+9%)(1+9%)(1+9%)(1+3%)

= $5.01

D5 = DO(1+Dividend1)(1+Dividend2)(1+Dividend3)(1+Dividend later)(1+Dividend later)

= $3.75(1+9%)(1+9%)(1+9%)(1+3%)(1+3%)

= $5.16

5 0
4 years ago
What<br> are three effects inflation have on an economy
Brrunno [24]
1. Hardships for poor people and fixed income salaried households 
<span>2. Business Profits tend to go up in times of inflation </span>
<span>3. Demand for pay hikes and wage increases</span>
7 0
3 years ago
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