Answer:
prepaid expense 15,500 debit
prepaid insurance 15,500 credit
Explanation:
<em>The amount of unexpired insurance will be the ending balance of the account</em>
4,500 debit
+ 16,600 premium paid
+/- adjustment
5,600 ending
4,500 + 16,600 - 5,600 = 15,500
Answer:
B) 790-700r
Explanation:
Aggregate Expenditure is the expenditure by all the sectors of economy. By Households = Consumption (C), By Firms = Investment (I), By government = Govt spending (G) & tax leakages (T), By Rest world = Next Exports (NX).
Autonomous Expenditure is the level of expenditure in economy, which doesn't depend on level of Income = Y.
AE = C + I + G + NX
[500 + 0.8 (Y-150) - 300r] + [200 - 400r] + 200 + 10
500 + 0.8Y - 120 - 300r + 200 - 400r + 210
500 - 120 + 200 + 210 - 300r - 400r + 0.8y
790 - 700r + 0.8y
As, it can be seen that the part of AE = '790 - 700r', excluding '0.8y' : is not dependent on Income Y. So, it is Autonomous Expenditure
Im not sure, sorry, I wish I could help
Explanation:
The journal entries are shown below:
a. Bad debt expense A/c Dr $13,931
To Allowance for doubtful debts $13,931
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% - $2,921
= $13,931
b. a. Bad debt expense A/c Dr $17,722
To Allowance for doubtful debts $17,722
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% + $870
= $17,722
Answer:
Such changes would require an understanding of:
a) intellectual property law
Explanation:
Intellectual property can be defined as non-physical property of the mind or the intellect. They are intangible assets of the intellect that can be protected by law. The law that guides the creation, usage and enforcement of intellectual property rights is know as intellectual property law. They majorly involve inventions of the mind such as; designs and artistic works. The laws were made to provide incentive to the inventors and creators of intellectual property to build creative inventions that benefits the society but also ensuring that they gain profits and acknowledgement for their work.
As enshrined in Article I, Section 8 of the U.S. Constitution, congress is given exclusive authority to grant inventors and creators rights to their inventions. The two major agencies that administer intellectual property laws are; the U.S. Patent and Trademark Office, and the U.S. Copyright Office.
In the context above where Mega Corporation wants to change it's logo and trademark, they need an understanding of intellectual property law since corporate logos and trademarks are subject to intellectual property law.
