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wlad13 [49]
3 years ago
15

On July 1m 2017, Ling Co. pays $12,400 to Marsh Insurance Co., for a 2-year insurance contract. Both companies have fiscal years

ending December 31.
For Ling Col journalize the entry on July 1 and adjusting entry on December 31,

Date Account Title and Explanation Debit Credit
Business
1 answer:
Ronch [10]3 years ago
6 0

Answer:

Journal entries

Explanation:

The journal entries are as follows

On July 1

Prepaid insurance Dr $12,400

     To Cash $12,400

(Being the payment is recorded)

On December 31

Insurance expense Dr $3,100

    To Prepaid insurance $3,100

(Being the insurance expense is recorded)

It is computed below:

= $12,400 × 6 months ÷ 24 months

= $3,100

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Which of the following is true of the BCG matrix approach. A) It is inexpensive to implement. B) It does not consider relative m
weeeeeb [17]

Answer:

D) It considers market growth rate to be a measure of market attractiveness

Explanation:

In 1970, Bruce D. Henderson developed and created a growth-share matrix for the Boston Consulting Group (BCG). The Boston Consulting Group (BCG) growth-share matrix is a tool used for analyzing and planning product lines in a business unit. It makes use of a graphical representation of a company's product line and services to analyze and make long-term strategic plans on which to invest more on or sell off.

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4. Cash cows.

The statement which is true of the Boston Consulting Group (BCG) matrix approach is that, it considers market growth rate to be a measure of market attractiveness.

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.

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7 0
2 years ago
The U.S. government agency that advises and assists small businesses by providing management training and financial advice and l
Paraphin [41]

A U.S. government agency that works to assist small businesses is called the Small Business Administration(SBA).

<h3>What does the Small Business Administration do?</h3>

The Small Business Administration was established under the Eisenhower tenure in order to boost the nation's economy.

They work to help small businesses by offering them several types of support such as management training and loans.

Find out more on the Small Business Administration at brainly.com/question/13424073.

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7 0
1 year ago
On January 2, 2018, Baltimore Company purchased 14,000 shares of the stock of Towson Company at $13 per share. Baltimore obtaine
Norma-Jean [14]

Answer:

$315,600

Explanation:

Ownership = 40%

Investment = $182,000                

Share of dividends = 40%*21,000 =8400

Share of income = 40%*75000 = 30000

Increase in share price = $21-$13= $8

                                                                                 investment

                                                                   Dr                                        Cr

Investment                                     $182,000

Dividend received                                                                              $8400

Income received                              $30,000

Increase in share price                    $112,000

                                                         324,000                                      315,600

                                                   

5 0
3 years ago
First National Bank charges 13.7 percent compounded monthly on its business loans. First United Bank charges 14 percent compound
Liula [17]

Answer:

First National Bank    = 14.6%

First United Bank.=   = 14.8%

Explanation:

<em>Effective annual rate is the equivalent annual rate o where interest rate is compounded at an interval shorter than a year.</em>

It can be calculated as follows:

EAR = ( (1+r)^(n) -1) × 100

r -interest rate per period

n- number of period

EAR - Effective annual rate

First National Bank

r - interest rate per month = 13.7%/12 = 1.141%

number of period = 12 months

EAR =( (1+011141)^(12) - 1) × 100

       =  0.145938395 × 100

       = 14.59

      = 14.6%

First United Bank.

r- interest rate per quarter - 14%/4 = 3.5% per quarter

n- number of quarters = 4

EAR = ((1+0.035)^(4)- 1) × 100

      = 0.147523001 × 100

      = 14.8%

 

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3 years ago
In economics, what is logrolling?
nadezda [96]
In economics, Logrolling is a trading of favors. Usually this is done in legislative members in which they trades to get the favor of the other members.
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I am running for a certain position, In order to get the highest vote, I will talk to the other members to vote me in exchange to their favors.
5 0
3 years ago
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