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
I am Lyosha [343]
4 years ago
9

When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional informa

tion for the year ended December 31 is as follows: Prepaid insurance at January 1 $52,500 Insurance expense recognized during the year 218,750 Prepaid insurance at December 31 61,250 What was the total amount of cash paid by Castle for insurance premiums during the year?
Business
1 answer:
atroni [7]4 years ago
5 0

Answer:

$227,500

Explanation:

The computation of the total amount of cash paid is shown below:

Cash paid for insurance premium = Prepaid Insurance at end of the year  + Prepaid Insurance recognized - Prepaid Insurance at the beginning of the year

= $61,250 + $218,750 - $52,500

= $227,500

We simply applied the above formula so that the correct amount of cash paid could come with respect to the insurance premium

You might be interested in
Martha and Lew are married taxpayers with $400 of foreign tax withholding from dividends in a mutual fund. They have enough fore
DedPeter [7]

Answer: they should claim a deduction for foreign taxes on their Schedule A?

Explanation: An itemized deduction is an expenditure on eligible products, services, or contributions that can be subtracted from adjusted gross income (AGI) to reduce your tax bill.

Most taxpayers have the option to either itemize deductions or claim the standard deduction that applies to their filing status.

5 0
4 years ago
Global Trade Enterprises has a policy statement making it clear that it does not tolerate sexual harassment. It set up an employ
Korvikt [17]

Answer:

Option D is correct

Explanation:

Training all employees to identify inappropriate behavior that can be termed as sexual harassment in order to avert ignorance towards type of behavioral pattern which reduce frequency of report.

3 0
3 years ago
Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B wi
erastovalidia [21]

Answer:

Charge $150 for a suit

Explanation:

Bundling strategy is the pricing of goods by a business despite different customers having different preferential prices they are willing to pay for the good.

In this scenario Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants.

The two customers are willing to pay $150 for both the jacket and the pants.

So the best decision for the company is to sell a suit made up of the jacket and pants for $150.

This way bother customers will get their preferred price.

4 0
3 years ago
Williams Company uses the weighted-average method in its process costing system.
alexandr1967 [171]

Answer:

Equivalent units of production for the finishing department: 3250

5 0
3 years ago
The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bun
Softa [21]

Answer:

False

Explanation:

The slope of the budget line is the ratio of the prices of that bundle of goods. It represents the price at which a consumer would be willing to substitute one good for the other in the same bundle of goods.

I hope my answer helps you

7 0
4 years ago
Other questions:
  • According to the company Evernote it is a workspace that lives across your phone, tablet, and computer. It is the place you writ
    10·1 answer
  • An aging of a company’s accounts receivable indicates the estimate of uncollectible receivables totals $7,900. If Allowance for
    6·1 answer
  • Every company strives to keep _________ brand positive. her his its their
    14·1 answer
  • Which of the following concepts cannot be illustrated by the production possibilities frontier? a. efficiency b. trade-offs c. e
    7·1 answer
  • Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business
    8·2 answers
  • Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $20,000 in fou
    12·1 answer
  • Proctor & Gamble is entering a new market and determines that the country has a high illiteracy rate. Given this information
    5·1 answer
  • Sparks Corporation has 3,000 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017. At December 31, 2017
    12·1 answer
  • Rate * 1.5 represents what?
    15·1 answer
  • Calculate amortization expense
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!