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KengaRu [80]
3 years ago
10

The prepaid insurance account had a beginning balance of $4,500 and was debited for $16,600 of premiums paid during the year. Jo

urnalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $5,600. Refer to the Chart of Accounts for exact wording of account titles.
Business
2 answers:
trasher [3.6K]3 years ago
8 0

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

MAVERICK [17]3 years ago
7 0

Answer:

                                                                                       $                   $

Prepaid Insurance (Beginning)                                   4,500

Insurance Premium Paid                                            16,600

                    Insurances Expired                                                    15,500

                    Prepaid Insurance (Ending)                                        5,600

Explanation:

The amount of unexpired insurance related to future periods is $5,600 which will be the closing balance of this Account

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ankoles [38]

Interest expense is not Incurred on long-term liabilities.

Option i) Incurred on long-term liability.

Interest expenses are not recorded in the balance sheet. It should be recorded in the income statement.

The interest expense is a non-operating expense recorded on the expenses side of the income statement and it does not show as notes payable.

The interest expense is shown as a fixed cost or fixed expense it will be changed as based on the short-term changes or completion of payable.

The interest expense shows a factor in determining a company's borrowing risk.

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Answer:

C) have fewer economic restrictions

Explanation:

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If a country has positive net capital outflows, then its net exports are a. positive, and its saving is larger than its domestic
Hoochie [10]

Answer:

<em>a. positive, and its saving is larger than its domestic investment.</em>

Explanation:

Whenever a country has positive net capital outflows,<em> then the net exports will be absolutely positive.</em> Because, if a country has positive net exports, then the country has less number of imports as compare to the exports.

As country has to export its goods to other countries and bring back less amount of imports, and<em> not have to invest its amount domestically inside its country because it already took goods from foreign.</em> So here, we can say that OPTION(a) is correct.

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Refer to the accompanying consumption schedule in an economy. All figures are in billions of dollars. If gross investment is $34
dezoksy [38]

Answer:

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Explanation:

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3 years ago
What are the issues of integrity, ethics and law posed in the case study? What options does the woman have, and what should she
Dovator [93]

The integrity, ethics, and law issues raised in the case study are illegal and unethical conduct.

The woman must reject the economic proposal made by the company and maintain her complaint so that the executive is judged for what she did because she would avoid future harm to other employees.

<h3>What is ethics?  </h3>

Ethics is a term that refers to moral philosophy. This focuses on the study of human behavior based on right and wrong according to duty. Contemporary ethics is usually divided into three branches which are:

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According to the above, it can be inferred that the situation presented is an example of an unethical and illegal act because the company and the executive want to bribe the employee to prevent the executive from being removed from his position and the company from being judged for endorsing that conduct of the executive.

Note: The question is incomplete because the information is missing. Here is the complete information:

Case study 4

A woman is sexually harassed by a top-level senior executive in a large company. She sues the company, and during settlement discussions she is offered an extremely large monetary settlement. In the agreement, the woman is required to confirm that the executive did nothing wrong, and after the agreement is signed the woman is prohibited from discussing anything about the incident publicly. Before the date scheduled to sign the settlement agreement, the woman's lawyer mentions that she has heard the executive has done this before, and the settlement amount is very large because the company probably had a legal obligation to dismiss the executive previously. The company however wants to keep the executive because he is a big money maker for the company.

What are the issues of integrity, ethics and law posed in the case study? What options does the woman have, and what should she do and why?

Lecturer Guidelines

Some of the issues raised by this case study include initial issues of unethical and unlawful conduct, by the executive and the company; whether the company should allow the executive to continue working because of the revenue he generates, in view of his propensity to harm co-workers, and whether this action is ethical or reflects integrity; whether the company should require the woman to state that the executive did nothing wrong as part of the settlement agreement; whether the woman should agree to this settlement in view of the harm future employees are being exposed to; and whether the woman is prioritising justice for herself over harm to future employees in an acceptable way.

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