Your company purchase a 12 month insurance policy for $36000 in January

2 answers:

8 0

Question is incomplete

Your company purchased a twelve-month insurance policy for $36,000 in January. What's the entry to record the monthly insurance expense in March?

Answer:

Date Account and explanation

Insurance expense $3,000 (Debit)

Prepaid insurance $3,000 (Credit)

Step-by-step explanation:

Given

Insurance Policy = $36,000

Duration = 12 months

First we calculate the monthly entry.

This is calculated by dividing the cost of insurance policy by the duration.

Monthly Expenses = Cost / Number of months

Expenses = $36,000/12

Expenses = $3,000

The entry to record the monthly insurance expense in March is as follows

Date Account and explanation

Insurance expense $3,000 (Debit)

Prepaid insurance $3,000 (Credit)

7 0

please complete the question

You might be interested in

ch4aika [34]

Answer:

The number that belongs in the green box is equal to 909.

General Formulas and Concepts:
Algebra I

Equality Properties

Trigonometry

[Right Triangles Only] Pythagorean Theorem:
$\displaystyle a^2 + b^2 = c^2$

Step-by-step explanation:

Step 1: Define

Identify given variables.

a = 30

b = 3

c = x

Step 2: Find x

Let's solve for the general equation that allows us to find the hypotenuse:

[Pythagorean Theorem] Square root both sides [Equality Property]:
$\displaystyle \begin{aligned}a^2 + b^2 = c^2 \rightarrow c = \sqrt{a^2 + b^2}\end{aligned}$

Now that we have the formula to solve for the hypotenuse, let's figure out what x is equal to:

[Equation] Substitute in variables:
$\displaystyle \begin{aligned}c & = \sqrt{a^2 + b^2} \\x & = \sqrt{30^2 + 3^2}\end{aligned}$
Evaluate:
$\displaystyle \begin{aligned}c & = \sqrt{a^2 + b^2} \\x & = \sqrt{30^2 + 3^2} \\& = \boxed{ \sqrt{909} } \\\end{aligned}$