Answer:
Debit insurance expense $5,200
Credit prepaid insurance $5,200
A decrease of $5,200 in the current asset,that will be charged to expense account.
Explanation:
An adjusting entry to recognize the expire portion of the insurance must be done at the year end. In this entry, we will recognize the expire portion of the prepaid insurance that was acquired on May 1.
($7,800 / 12 months = $650 x 8 months = $5,200)
The effect on financial statement is that, prepaid insurance which is a current asset will decreased by $5,200 makes the balance of the prepaid insurance decreased to $2,600 at year end.
Answer:
The labor force participation rate in Candora approximately equals 56.72%.
Explanation:
Given that the adult population of Candora is 171 million, of which 97 million are in the workforce and 74 million are unemployed, to obtain the percentage of participation in the workforce of said country we must carry out the following calculation:
171 = 100
97 = X
(97 x 100) / 171 = X
9700/171 = X
56.72 = X
Thus, the percentage of participation in the Candora workforce is 56.72% of the country's adult population, while the remaining 43.28% are unemployed.
Answer:
The correct answer is A
Explanation:
In addition to Independence, Integrity, and Objectivity
; Personnel Management
; Engagement Performance
; and Monitoring
the Public Accounting rules of Quality Control Standards require that a firm, as a matter of policy, must continually practice the <em>Acceptance and Continuance of Clients and Engagements
.</em>
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Cheers!
Answer:
Answer is C
Explanation:
c. because of seasonal variability of overhead costs.
