Explanation:
The adjusting entry is as follows
Insurance expense A/c Dr $4,800
To Prepaid insurance A/c $4,800
(Being the insurance expense is recorded)
The computation is shown below:
= Beginning balance + debited amount - unexpired insurance amount
= $6,600 + $2,300 - $4,100
= $4,800
So while preparing the adjusting entry, we debited the insurance expense account and credited the prepaid insurance account
I dont exactly know if this is right, but i would say "crash" if youre being asked to fill in the blank. Thats what I would put. If you continue to drive while someone is in front of you, and you don't take any action to prevent it, you would crash into them. Sorry if this wrong, there wasnt much explanation!
Answer:
i think the answer is $27,350
Explanation:
i hope it help
Answer:
$ 1,586.8743
Explanation:
Calculation to determine what will be the value of the certificate when it matures
Compounded annually
Principal P= 1000
Rate r=0.08
Period n = 6
Using this formula
A = P (1+r)^n
Let plug in the formula
1000 (1.08)^6
= 1586.8743
Therefore what will be the value of the certificate when it matures is $1586.8743
The person who receives financial protection from a life insurance plan is called a beneficiary. I hope that I helped, Have a wonderful day!
