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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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Productivity in the United States doubled between 1945 and 1990. However, the work week didn't get shorter because
mel-nik [20]

Answer:

the standard of living increased

Explanation:

Between the years 1948 and 1990, the level of productivity in the United States of America increased tremendously, to the extent that it was in the doubled fold. Consequently, this increase in the level of productivity simply exemplified that, there is a substantial increase in the standard of living for the average American.

Hence, it can be concluded that, in this case, the workweek didn't get shorter because "the standard of living increased."

3 0
3 years ago
Chester's balance sheet has $105,038,000 in equity. Further, the company is expecting net income of 3,000,000 next year, and als
charle [14.2K]

Answer:

The answer is $112,038,000

Explanation:

The total equity will be equity brought forward, the net income(retained earnings) and the newly issued shares.

Book value equals asset minus liability which this formula is the same as equity. So in order words book value is also the same as total equity.

Therefore, the book value is:

$105,038,000 + 3,000,000 + $4,000,000

= $112,038,000

3 0
3 years ago
Loyal Pet Company expects to sell 7 comma 000 beefy dog treats in January and 5 comma 000 in February for $ 2.00 each. What will
marin [14]

Answer:

<u>January:</u>

Sales revenue= $14,000

<u>February:</u>

Sales revenue= $10,000

Explanation:

Giving the following information:

Sales:

January= 7,000 units

February= 5,000 units

Selling price= $2

The sales revenue reflected in the sales budget is the result of multiplying the number of units sold with the selling price.

January:

Sales revenue= 7,000*2= $14,000

February:

Sales revenue= 5,000*2= $10,000

3 0
3 years ago
Why is training important <br>​
Ray Of Light [21]

<u>These reasons include</u>:-

  • Increased job satisfaction and morale among employees.
  • Increased employee motivation.
  • Increased efficiencies in processes, resulting in financial gain.
  • Increased capacity to adopt new technologies and methods.
  • Increased innovation in strategies and products.
  • Reduced employee turnover.
8 0
3 years ago
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/20
tiny-mole [99]

Answer:

$29.6 million per share

Explanation:

Additional share issued = (Issued and shares outstanding 2021 + Additional paid-in capital on common stock 2021) - (Issued and shares outstanding 2020 + Additional paid-in capital on common stock 2020)

Additional share issued = (110 million + 527 million) - (95 million + 394 million)

Additional share issued = 637 million - 489 million

Additional share issued = $148 million

Average price paid = Additional share issued / $5

Average price paid = $29.6 million per share

5 0
2 years ago
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