Answer:
$300
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
Amount of insurance expense as at 31 December (6 months between 1 July and 31 December)
= 6/12 * $600
= $300
The insurance expense on the annual income statement for the first year ended December 31 is $300.
Answer:
public relations
Explanation:
Public relations refers to the process of building relations among the public and the organization. It focuses on constructing relations in the interest of the public by informing them about the new schemes and improvement of the company. It provides the individual to gain exposure and to earn experiences about the public. These relations ignites the sale of the organization and helps in its publicity too.
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