1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
krek1111 [17]
3 years ago
12

A 12-month insurance policy was purchased on Dec. 1 for $3,600 and the Prepaid insurance account was increased for the payment.

14- Demonstrate the required adjusting journal entry on Dec. 31 by selecting from the choices below Click the answer you think is right.
a.Prepaid insurance would be credited for $3,600.
b.Cash would be credited for $3,600.
c.Insurance expense would be debited for $300.
d.Insurance expense would be debited for $3,600.
Business
1 answer:
arsen [322]3 years ago
4 0

Answer:

c.Insurance expense would be debited for $300.

Explanation:

Provided that

12 month insurance policy purchased on Dec 1 = $3,600

So, the adjusting entry on Dec 31 would be

Insurance expense A/c Dr $300

          To Prepaid Insurance $300

(Being insurance expense is recorded)

The computation is

= $3,600 ÷ 12 months

= 300

As we have to compute for 1 month so we recorded $300 insurance expense

You might be interested in
Rosita purchased a bond for $989 that had a 7% coupon and semiannual interest payments. She sold the bond after 6 months and ear
Len [333]

Answer:

The price she sold the bond is $1,001.47

Explanation:

The formula for yield return in given as ;

Yield to maturity= (Annual interest+ per value - market price ÷ numbers of years to maturity)/per value+ market price÷ 2

048 = (Selling price + [(.07 × $1,000)/2] - $989)/$989

Making selling price the subject of formula we have this as the abswer

Selling price = $1,001.47

3 0
3 years ago
How long is boot camp for a fire fighting candidate
Trava [24]
After a 12-week program of intense classroom and physical training (hands on), it will follow along with a 21-day Boot camp.


Hope this helped!
3 0
3 years ago
You were hired as a consultant to Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equ
taurus [48]

Answer:

8.15 %

Explanation:

Weighted Average Cost of Capital (WACC) is the business Cost of permanent sources of finance pooled together. It shows the risk of the business and is used to evaluate projects.

WACC = Cost of Equity x Weight of Equity + Cost of Preferred Stock x Weight of Preferred Stock + Cost of Debt x Weight of Debt

<u>Remember to use the After tax cost of debt :</u>

After tax cost of debt = Interest x ( 1 - tax rate)

                                    = 6.50% x (1 - 0.40)

                                    = 3.90 %

therefore,

WACC = 11.25% x 55% + 6.00% x 10% +  3.90 % x 35%

            = 8.15 %

Thus,

Quigley's WACC is closest to 8.15 %.

3 0
3 years ago
How much do voice actors get paid per episode?
katovenus [111]
It really depends as to what they do and how long they do it for I would say it ranges person to person
4 0
3 years ago
What means can managers use to assess political risk? What do you think is the relative effectiveness of these different methods
icang [17]

Explanation:

Political business risks can negatively affect the profitability of a company or investment in a particular country or location, these risks are inherent in political crises that affect the economy of a location, so it is necessary for managers to assess political risk using analysis indices of risk, assessment systems, past results, country positioning and it is also essential that managers seek experts for better guidance on political risks.

Brazil, for example, is a country that despite attracting a lot of international investment through government incentives, is going through an internal political crisis that gives it greater instability and causes instability so that investors feel safe in investing in the country, due to the possibility of rapid change in the political scenario that can lead to negative economic changes and unforeseen events that mean negative risks for foreign investors.

8 0
3 years ago
Other questions:
  • During a recent shopping trip to Target, Carlie noticed that the store offered many Glad products, including many different type
    9·1 answer
  • The abrupt end of long distance cattle drives in 1885 was primarily due toa. the development of railroad cars that could haul ca
    5·1 answer
  • On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the
    6·1 answer
  • Which of the following statements are false?
    11·1 answer
  • You are given the following information: Stockholders' equity as reported on the firm’s balance sheet = $4 billion, price/earnin
    15·1 answer
  • A national restaurant chain has just opened a sit-down location at Chicago’s O’Hare International Airport. Next to the sit-down
    7·1 answer
  • A sporting goods company has a distribution center that maintains inventory of fishing rods. The fishing rods have the following
    10·1 answer
  • If you were originally a lender, remain a lender even after a decline in interest rates. Will you get better or worse after the
    15·1 answer
  • Communication starts with<br>​
    6·1 answer
  • Management generally resists allowing employees to manage their own workflow because it decreases their motiviation. please sele
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!