Answer:
Balance in Prepaid insurance as of December 31 is $18,750
Explanation:
<em> </em>Computation of Prepaid Insurance
Insurance 1 ($34,200 * 6/18) $11,400
Insurance 2 ($14,700 * 12/24) <u>$7,350 </u>
Total Prepaid Insurance <u>$18,750</u>
Answer:
Dr Investment in Nursery supplies $66 million
Cr Cash $66 million
Dr Investment in Nursery supplies $7 million
Cr Investment Revenue $7 million
Dr Cash $9 million
Cr Investment in Nursery supplies $9 million
No Entry
Explanation:
Preparation of the appropriate journal entries from the purchase through the end of the year.
Dr Investment in Nursery supplies $66 million
Cr Cash $66 million
(To record purchase of 25% shares for $66 million)
Dr Investment in Nursery supplies ($28 million x 25%) $7 million
Cr Investment Revenue $7 million
(To record investor share of investee's net income)
Dr Cash (18 million shares x 25% share x $2 per share) $9 million
Cr Investment in Nursery supplies $9 million
(To record receipt of dividend)
No Entry
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Answer:
false, these two can be related
Explanation:
false
Creation and execution of goals by the management team, defined by available resources and existing conditions in and out of the company.