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I am Lyosha [343]
3 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]3 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

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According to the text, for an entrepreneurial start-up to be successful, three ingredients are critical. What are they? Group of
Ronch [10]

Answer:

A viable opportunity, available resources and a qualified and motivated founding team.

Explanation:

An entrepreneur can be described as an individual who creates a new business and also undergoes the different financial risks that are associated with a business operation. An entrepreneur should be creative, smart and a problem solver inorder to be able to succeed in the business world.

A successful enterpreneur must possess the ability to turn different ideas and knowledge into a viable business opportunity. The individual must also have access to an amount of money(capital) that is required to start up the business. There must also include a motivated team of workers willing to work with the individual inorder to achieve a specific goal.

6 0
3 years ago
Websites not only give us information, but they also inspire designers in their layouts, illustrations, images, typefaces, and c
JulsSmile [24]

Answer:

Explanation: Post the link of the site you are using for this exercise and then provide the answers to the following questions: What hues, shades, or tints can you identify? What color model is being used in the website? What color scheme is being used? Are the colors warm or cool? What emotions do the colors make you feel?

What hues, shades, or tints can you identify?

Primary and Secondary colors (Yellow, Orange, Red, Violet, Blue, and Green) are considered hues; however, tertiary colors (mixed colors where neither color is dominant) would also be considered hues. Tint refers to any hue or mixture of pure colors to which white is added. Pastel colors are generally tinted colors.

What color model is being used in the website?

Additive Color Model — also known as the RGB color model. RGB stands for Red Green and Blue. RGB model uses light to display colors and are mainly used for web media.

What color scheme is being used?

1. Monochromatic color scheme · 2. Analogous color scheme · 4. Triadic color scheme · 5. Split-complementary color scheme

Are the colors warm or cool?

Warm colors like red, yellow and orange evoke higher arousal emotions.

What emotions do the colors make you feel?

Warm colors like red, yellow and orange evoke higher arousal emotions, such as love, passion, happiness, and anger. Cool colors, like blue, green and purple are linked to calmness, sadness and indifference. Colors can trigger these arousal states and emotions.

6 0
2 years ago
Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production and sales of Product of R3
Tcecarenko [31]

Answer:

$695.24 per unit

Explanation:

Calculation to determine what The unit product cost of Product R3 under activity-based costing is closest to

First step is to Calculate Activity rates

Activity Cost Pool Activity driver Overhead Cost (A) Expected Activity (B) Activity rate (A/B)

Labor related Number of DLH $ 40,636÷13,000 = 3.13 Per DLH

Production orders Number of Order 65,880÷ 1,600= 41.18 Per Order

Order size Number of MH 433,075÷ 7,600 = 56.98 Per MH

Second step is to calculate the Cost assigned to Product R3

Cost assigned to Product R3

Activity name Activity Rates Activity ABC Cost

(A) (B) (A x B)

Labor related 3.13 * 11,000 =$34,430

Production orders 41.18* 1,200=$49,416

Order size 56.98*3,900= $222,222

Total Overheads assigned $306,068

($34,430+$49,416+$222,222)

Production 1,100

Overhead cost per unit $278.24

Product R3

Direct material $211

Direct labor (10x $20.60 per DLH) $206

Overheads $278.24

Total Cost per unit $695.24

($211+$206+$278.24)

Therefore The unit product cost of Product R3 under activity-based costing is closest to $695.24 per unit

3 0
2 years ago
Amounts collected by the lender and held in a trust or impound account for future payment are called what?
Aleonysh [2.5K]

The amounts collected by the lender and held in a trust or impound account for future payment are called Reserves.

Reserves are earnings that have been appropriated or set apart, for use for a selected cause in addition down the road. A few examples of specific reserves include capital redemption reserves, contingency reserves, debenture redemption reserves, and dividend equalization reserves. each of these reserves has a particular purpose, but, if important, specific reserves can every so often be used for bills that are not their meant functions.

Reserves may be funded by way of annual working surpluses, or thru a funding plan. These price ranges are considered to be "savings bills" so no fees can be charged without delay to them; the simplest transfer object codes must be utilized to reserve money owed.

A lender is a man or woman, a set (public or non-public), or an economic institution that makes finances available to a person or business with the expectation that the price range could be repaid. Compensation will include the charge of any hobby or costs.

Learn more about economic institutions here brainly.com/question/4230044

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5 0
1 year ago
What impression does it give if you are text messaging or listening to music while waiting to be called into an interview?
mylen [45]
It would give me the impression that you’re not interested in the interview. If someone walked into an interview while doing the above personally I would see them as “having better things to do”

Anyways, Hope this somehow helps!
3 0
2 years ago
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