1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ivanzaharov [21]
3 years ago
10

Mouse Inc. uses the alternative method of accounting for prepayments and purchased a $1,200, 6-month insurance policy. The compa

ny immediately debited the Insurance expense account. By the end of the period, $400 of the policy had expired. Demonstrate the required adjustment needed at the end of the period.
Business
1 answer:
zysi [14]3 years ago
3 0

Explanation:

The adjusting journal entry to record the given adjustment is shown below:

At the year-end

Insurance expense A/c Dr. A/c $800

       To Prepaid Insurance A/c $800

(Being insurance expense is recorded)

The computation is given below:

= Prepayment done for 6 months insurance policy - expired insurance

= $1,200 - $400

= $800

You might be interested in
the financial agency that sets monetary policy is , the financial agency that insures bank deposits is
lozanna [386]
The Federal Reserve System, often referred to as the Federal Reserve<span> or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.


I hope my answer has come to your help. God bless and have a nice day ahead!
</span>
6 0
3 years ago
The fixed costs of WeBuy&amp;Sell.com, an e-commerce website, make up about 90 percent of the total costs incurred by the compan
nataly862011 [7]

Answer:

This allows WeBuy&Sell.com to earn high profits at a very low cost. According to the given scenario, WeBuy&Sell.com has high scalability.

Explanation:

In an economic context, a scalable business model implies that a company can increase sales given increased resources.

7 0
3 years ago
14. Joss Norton deposited a check for $474.85 and a check for $821.15. He
aalyn [17]
Adding all of that would equal to $1,346
6 0
2 years ago
Which of the following statements about a strong-culture company is false?
klemol [59]

Answer:

A. Decisive leadership on the part of top executives, an industry-leading market share, and strict enforcement of long-standing company policies are all important traits of a strong culture

Explanation:

Option A is the correct answer to this question.

The company's culture are the beliefs that it holds which influences every area of a business. When starting a business or running an existing one, you company's culture that is essential to the overall success and growth of your company. Strong company cultures are result oriented

4 0
3 years ago
Which statements indicate that Rick’s company is a limited liability company? Rick Douglas is a bright and passionate lighting d
uranmaximum [27]

The statements are:

Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.

The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.

4 0
3 years ago
Other questions:
  • Depending on the number of customer footfalls in each section, Glenn, the floor manager of an apparel store, shuffles the number
    8·1 answer
  • Since he started at american eyeful pictures, inc., david has worked in japan, china, and thailand. the company has probably set
    9·1 answer
  • Your investor client is interested in looking at commercial property. An available strip mall has an effective gross income of $
    9·1 answer
  • Jerzy wants to keep his overall costs down and to enter into the international marketplace slowly and carefully. He is consideri
    12·1 answer
  • Keepers, Inc.'s balance sheet reported retained earnings as $10,000 at December 31, 2017 and $12,000 at the December 31, 2018. T
    15·1 answer
  • When preparing to go shopping after the christmas holidays, christy actively scans the ads in the local newspaper for coupons an
    9·1 answer
  • Riverwood Properties bought three lots in a subdivision for a? lump-sum price. An independent appraiser valued the lots as?
    12·1 answer
  • A line cook at a restaurant was inspired to become a chef, but he lacked the necessary training. The line cook asked the chef at
    7·1 answer
  • Kant Corporation retires its $500,000 face value bonds at 102 on January 1, following the payment of interest. The carrying valu
    9·1 answer
  • Gary's wife died last year, so he has been raising his three children on his own. When he files his taxes this year, which tax s
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!