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anygoal [31]
3 years ago
10

A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments c

olumns show expired insurance of $200. This adjusting entry results in: Select one: a. $200 decrease in net income. b. $200 increase in net income. c. $200 difference between the debit and credit columns of the Unadjusted Trial Balance. d. $200 of prepaid insurance. e. An error in the financial statements.
Business
1 answer:
Nesterboy [21]3 years ago
6 0

Answer:

a. $200 decrease in net income.

Explanation:

When insurance is paid in advance, the entries required are;

Debit Prepaid Insurance

Credit Cash account

As time elapses and the insurance expires,

Debit Insurance expense

Credit Prepaid Insurance

Given that the Adjustments columns show expired insurance of $200, this will be recorded as an expense and will thus decrease the net income.

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Do you think that setting business objectives for S and S blooms will make sure that the business is successful?Justify your ans
notsponge [240]

Improved Leadership will make sure that the business is successful.

Companies set goals and goals that help them make decisions. This allows the company to determine the main focus. Intentions and goals also indicate the direction the company wants to take, as well as key stakeholders such as investors and employees. This makes them more likely to support new projects.

Improved Leadership

With clear goals, organizational leaders can plan and direct new sales teams to see what they are working on. This kind of clarity also helps improve communication within the team, as everyone is on the same page.

“One thing that successful companies have in common is a strong interest in their customers,” said John Stephenson, marketing specialist at My GREExam Preparation. “They are creating a culture that focuses on customers and aligns processes, products, and services to the needs of their services.

Learn more about business objectives at

brainly.com/question/25754149

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8 0
1 year ago
Duggins Veterinary Supplies can issue perpetual preferred stock at a price of $75 a share with an annual dividend of $6.00 a sha
maria [59]

Answer: 6%

Explanation:

Based on the information given, when the flotation costs is ignored, the company's cost of preferred stock will be calculated thus:

Cost of preferred stock = Dividend on preferred stock / Price of preferred stock

Cost of preferred stock = 4.5/75 = 0.06 = 6%

Therefore, the cost of preferred stock is 6%.

6 0
2 years ago
James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually
padilas [110]

Answer:

option A

Explanation:

correct answer is option A

Gathering market information and spreading the information in the firm and eventually using the information into action is best described as market sensing.

Market sensing is one of the biggest tool for any company to succeed in future because if company know the future demand he can act according to it.

8 0
3 years ago
A period of macroeconomic expansion followed by a period of macroeconomic contraction is called A. the business cycle. B. an eco
DanielleElmas [232]

Answer:

A. The business cycle

Explanation:

A period of macroeconomic expansion followed by a period of macroeconomic contraction is known as a business cycle. Like the name suggests, a business cycle is a cycle of highs and lows in economic activities.

There are periods of expansion which is often characterized by economic growth, leading to creation of more jobs, robust middle class etc and contraction which is characterized by loss of jobs, shrinking middle class etc in a business cycle.

Other periods of a business cycle may include peak, trough etc.

7 0
2 years ago
A Nike women's-only store in California offers women's running, training, and sportswear products and also contains an in-store
Klio2033 [76]

Answer:

Opportunity cost = $6900 monthly or $82800 yearly.

Explanation:

Opportunity cost = $6900 monthly or $82800 yearly.

The opportunity cost is the gain forgone for the other alternative, or ultimately a loss to acquire other opportunity.

Here, the opportunity cost is gain of $6900 forgone to operate the fitness studio within the store by Nike.

4 0
3 years ago
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