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Finger [1]
3 years ago
14

On December 31, 2017, Coolwear, Inc. had a balance in its prepaid insurance account of $48,400. During 2018, $86,000 was paid fo

r insurance. At the end of 2018, after adjusting entries were recorded, the balance in the prepaid insurance account was 42,000. Insurance expense for 2018 would be:\
Business
1 answer:
Liula [17]3 years ago
4 0

Answer:

$92,400

Explanation:

Coolwear incorporation has a balance in its prepaid insurance account of $48,400

In 2018, $86,000 was paid for insurance

At the end of 2018, the balance was $42,000 after adjusting entries were recorded

Therefore the insurance expense for 2018 can be calculated as follows

= $48,400 + $86,000-$42,000

= $134,400-$42,000

= $92,400

Hence the insurance expense for 2018 is $92,400

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Horner Construction Co. uses the percentage-of-completion method. In 2014, Horner began work on a contract for $16,500,000; it w
Leno4ka [110]

Answer:

2014 =  zero

2015 = $6,450

Explanation:

2014

Under the completed-contract method of accounting, revenue, expenses, and gross profit is deferred until the completion of the contract.  If at the end of the business fiscal year of a company work on a contract remains incomplete, no revenue, expenses, and profit on that contract is recognized in the current year on the income statement; all costs and billings are accumulated in respective balance sheet accounts.

2015

This year, the construction is completed so Horner Construction Co. will now recognize its Revenue and gross profit in relation to the project.

            Contract price          $16,500,000

Less:     constructions costs   <u>10,050,000</u>

             Gross profit             $6,450,000

* construction cost    =    ($5,850,000 + $4,200,000)  

8 0
2 years ago
A holiday sales flyer advertised a video game system for a significantly reduced price and
patriot [66]
I believe it’s false advertising.

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3 0
2 years ago
define the various technologies that are emerging as noted in the article. Note how these emerging technologies are impacting or
brilliants [131]

Answer:

Biometric

Robotics

Big data

AI technology

Virtual business process

Explanation:

There are many technologies that are emerging everyday. We are in an era where there is new thought to digitalization every hour. The experts have paced their work to contribute towards digitalization and make the business process easier. The business process has been eased but there are many impacts that an organization has to face for digitalization. There is robotics and many employees has been made redundant due to robotics as the robots perform tasks better than human and they do not need any breaks.

Artificial intelligence is also one the impact that modern day businesses face. There are decision making process which is now converted to AI and reliance is made on their results. Instead of analyses by employees and company management complete reliance is placed on AI.

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In the article, “Visual Business Intelligence”, Stephen Few claims that visualization analysis and presentation tools are import
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Answer:

Explanation:

C

6 0
2 years ago
How can you prove to be an initiator?
inessss [21]

Answer:

D

Explanation:

to initiate something means to start it. By Initiating a conflict you are starting a series of problems and events.

6 0
3 years ago
Read 2 more answers
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