Answer:
Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400
Explanation:
The journal entry is given below:
Insurance expense ($4800 × 1 ÷ 12) $400
Prepaid Insurance $400
(To record insurance expense)
Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets
Answer:
Two(2) exemptions
Explanation:
The first exemption would be based on the fact that Ronald has health challenges while the second exemption would be on the basis of Ed's (his son) state of mental capability.
Answer:
a. licensor
Explanation:
The licensor is the person or company that have the rights on an idea, product, service, etc, and gives the licensee limited permission to market that. In this case, Vimonland Theme is a licensor because the company gives the rights to an investment company to operate a franchise.
<span>Jie should not change her consumption of either broccoli or rice for maximization of her utility , as she consumes three heads of broccoli and six bowls of rice each week. the price of a head of broccoli is $2 and the price of rice is $4 per bowl. jie's marginal utility from the last head of broccoli consumed is 4 utils and her marginal utility from her last bowl of rice is 8 utils</span>
Answer:
$332,000
Explanation:
Given that,
Liabilities = $87,000
Common stock = $ 145,000
Revenue = $ 462,000
Expenses = $ 318,000
Dividends = $ 44,000
Total assets = Liabilities + Common stock + Revenue – Expenses – Dividends
= $87,000 + $ 145,000 + $ 462,000 - $ 318,000 - $ 44,000
= $ 694,000 - $ 362,000
= $332,000
Therefore, the amount of Blue Spruce Company’s total assets is $332,000.
