Answer:
Which of the following transactions are examples of prepayments that will require an adjustment at the end of the accounting period on December 31? (Select all that apply.)
B. A company pays a 6-month insurance premium at the beginning of October.
D. A company pays for 4 months of advertising in the Wall Street Journal on November 1.
Explanation:
B. A company pays a 6-month insurance premium at the beginning of October.
Record expenses for 3 months. Oct-nov-dec. Otrher 3 months are prepaid expenses.
D. A company pays for 4 months of advertising in the Wall Street Journal on November 1.
Record expenses for 2 months. Nov-Dec. Other 2 months are prepaid expenses.
Answer:
a. the call price would decrease.
Explanation:
it is important you note that a company pays dividend (share of profit) to shareholders sometimes with a motive of attracting new investors.
Thus, we may likely expect the call price to decrease as a result of the sudden announcement.
The answer to this question is corporate profits
Corporate profits refer to the economic indicator that calculates the net income of companies within a country.
Net income derived after we subtracting the amount of expenses from the total revenue, wihch indicates how much capital the company truly earn from its operation.
Answer:
$8,020
Explanation:
estimated uncollectible receivables = $7,100
accounts receivables = $121,000
unadjusted debit balance of allowance for uncollectible accounts = $920
credit sales during the year = $192,000
bad debt expense = unadjusted debit balance + estimated uncollectible receivables = $7,100 + $920 = $8,020
the adjusting journal entry:
Dr Bad debt expense 8,020
Cr Allowance for uncollectible accounts 8,020
The allowance for uncollectible accounts account is a contra asset account that has a normal credit balance.
Answer:
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