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kow [346]
3 years ago
7

ABC opened for business on January 1, 2018, and paid for two insurance policies effective that date. The liability policy was $5

4,000 for 18 months, and the crop damage policy was $18,000 for a two-year term. What was the balance in ABC's Prepaid Insurance account as of December 31, 2018
Business
1 answer:
Whitepunk [10]3 years ago
4 0

Answer:

The balance in ABC's Prepaid insurance-account as on Dec 31, 2018 is <em>$27,000</em>

Explanation:

Liability policy  = ($54,000 / 18) × 6 months

Liability policy = $18,000

Crop damage policy = ($18,000 x 12 / 24)

Crop damage policy = $9,000

ABC's Prepaid insurance-account balance as on Dec 31, 2018 = $27,000

Thus,

Total Liability insurance period = 18

Now,

Expired period period - 12 months ( Jan 1, 2016 to Dec 31, 2016 )

Unexpired period   = (18 - 12) months = 6 months

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Andreas93 [3]

Answer:

D. Juice boxes contain too much sugar to be considered a nutritious fruit choice

Explanation:

bc it’s the only option against juice boxes

6 0
3 years ago
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On june 30, 20x1, after paying the semiannual interest due and recording amortization of bond discount, hake redeemed its 15-yea
Leokris [45]

Amount of interest expense on 30th June 20X1= Carrying Amount of Bond*Effective Interest Rate (For 6 Months)

=$940000*5/100

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3 years ago
I need some help! I'm not necessarily looking for the exact, technically correct answer to my question. Users submit questions a
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3 years ago
Which of the following is subtracted from national income to get to personal income?
emmasim [6.3K]

Answer:

The answer is "Option A"

Explanation:

RE stands for retained income, In this system also requires the net income to be used in the accounting and cash flows, while the statement of money flow, which is not released as dividends of shareholder value, is used instead for new investments within the company, and other options are were wrong that can be described as follows:

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3 0
3 years ago
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Elanso [62]

Answer:

Explanation:

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C = consumption

I  = Investment by business and household purchases by individuals

G = Government  Expenditures

NX = foreign trade.

The first thing you can do is knock out foreign trade.

I think you can dispense with Government expenditures as well all though a school is an arm of government.

I think investment is what you have to look at carefully because it does include charitable organizations.  We'll come back to this.

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So they are decreasing their value (albeit by a small amount -- they've already bought new computers).

I'm not sure about this, but I think what has happened is that the GDP is going to go down. Their investment has decreased by being written off.

8 0
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