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vaieri [72.5K]
3 years ago
9

Yummy Foods purchased a one-year hazard insurance policy on August 1 and recorded the $4,200 premium to prepaid insurance. At it

s December 31 year-end, Yummy Foods would record which of the following adjusting entries? a. Debit Prepaid Insurance and credit Insurance Expense for $1,750. b. Debit Insurance Expense and credit Accounts Payable for $4,200. c. Debit Insurance Expense and credit Prepaid Insurance for $2,450. d. Debit Insurance Expense and credit Prepaid Insurance for $1,750
Business
1 answer:
andriy [413]3 years ago
4 0

Answer:

b

Explanation:

cause it is

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On January 1, 2021, the Blackstone Corporation purchased a tract of land (site number 11) with a building for $740,000. Addition
yawa3891 [41]

Answer:

The answer is given below;

Explanation:

Land Account As at September 30,2022

                                                      Amount in $

Land Value                                    570,000

Broker Commission                        50,000

Legal Fees                                          8,000

Title Insurance                                  25,000

Cost of Razing                                  89,000

Total                                                742,000

Office Building-Total Cost            Amount in $

Contract price to barnett                  4,400,000

Plans and Blueprint                               26,000

Design and Supervision                        98,000

March-December 2021

Borrowing Costs 1,040,000*12%*9/12   93,600

January-September 2022

Borrowing Costs 3,000,000*12%*9/12   270,000

Total Cost                                                4,887,600          

             

4 0
3 years ago
Anita is an entrepreneur who is interested in starting a hair salon. Anita consulted her friend Ali, who is a businessman, to ge
Varvara68 [4.7K]

ANSWER 1. Capital

EXPLANATION: Calculating capital is necessary for a business. It is the basic duty of an entrepreneur to calculate capital before starting any business to check the financial capacity of the entrepreneur. Calculating capital also helps to estimate if any outside finance is necessary to start the business.

ANSWER 2: Set of Services

EXPLANATION: Choosing and categorizing set of services is necessary before starting any business. This will help in acquiring expert and trained set of labors to carry out the work. The clients will also come to know of the services that are available in the business. Expert and trained set of labors are difficult to find in any market.

ANSWER 3: Total Cost of Ownership

EXPLANATION: Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. Each and every piece of equipment that Anita buys is added to the cost of the ownership of the business.

4 0
3 years ago
Read 2 more answers
A. English Common Law<br> B.Ethical dilemmas<br> C.Stare decisis<br> D.Utilitarian decision making
kumpel [21]

Answer:

C

Explanation:

no idea what a,b,c, and d are for. no question?

3 0
3 years ago
N December 2, Coley Corp. acquired 1,700 shares of its $2 par value common stock for $21 each. On December 20, Coley Corp. resol
erma4kov [3.2K]

Answer:

Credit Treasury Stock $20,000

Explanation:

When the company reissued the shares, the Treasury Stock account is credited by the same price they were acquire. i.e. in this case we acquire the treasury stock at a price of $20.

Cash (1,000 * 12)                                    12,000

Additional Paid in Capital                        8,000

                         Treasury Stock (1,000 * 20)               20,000

6 0
3 years ago
in a recent issue of aarp the magazine, a print ad for state farm insurance annuities advises readers that "the company has help
Vinil7 [7]

In the issue of this magazine the people that the ad is most likely targeting would be the baby boomers.

<h3>Who are the baby boomers?</h3>

This is the name that was used to refer to the people that were born at the period that the second word war ended and towards the 1960s. These were the people that were in the United States between the years of mid-1946 and mid-1964,

Hence we can conclude by saying that In the issue of this magazine the people that the ad is most likely targeting would be the baby boomers.

Read more on baby boomers here

brainly.com/question/5111407

#SPJ1

7 0
1 year ago
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