1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kamila [148]
3 years ago
14

On December 31, 2016, Avery Corporation paid $18,000 for next year's insurance policy.

Business
1 answer:
Aleonysh [2.5K]3 years ago
8 0

Answer:

C. Prepaid insurance 18,000  debit

                       Cash             18,000 credit

Explanation:

The company will do a mistake if it reocrd this as a mistake as it will be posting an expense for an evnt that take place during the next accounting cycle (2017) As the insurance will be outstanding during that period not the one ending.

Also it is not an expense as the insurance company now has the obligation to perform if something happens So we have an asset right now, through time and as long as the insurance is not executed we will declare the expenses.

But for now, it is an asset.

You might be interested in
Autocratic leadership is likely to be effective when: subordinates are highly trained professionals. the organization faces an e
andrew-mc [135]

When the organization faces an emergency situation.

Autocratic leadership (or authoritarian leadership) is characterized by a single person taking control of decision making. In an emergency, having a clear leader is sometimes the best option.

5 0
3 years ago
A wealth gap is an economic difference between
horrorfan [7]

Answer:

B. Economic classes

Explanation: its correct on eadg

7 0
3 years ago
Read 2 more answers
Producer surplus is defined as the:difference between a price floor and the market price.gap between the supply curve and the ma
klemol [59]

Answer:

Gap between the supply curve and the market price.

Explanation:

Producers surplus refers to the surplus that a producer of a commodity can obtain. The producers surplus is the difference between the producer's willingness to accept the price and the actual price they have received.

Producers surplus = Actual market price - Willingness to accept the price

Graphically, it is the area between the upper portion of supply curve and the market price.

7 0
3 years ago
Joe sells the house he has lived in for 10 years to the Smith family for $300,000. He receives $50,000 more than his original pu
jasenka [17]

Answer:

$15,000

Explanation:

Joe has sold the house he has been living in for 10 years to the Smiths family

He sold the house at $300,000

Joe receives $50,000 more than the original price bargained 10 years ago

He pays the real estate agent a commission of 5%

= 5/100

= 0.05

Therefore the increase in gross domestic product can be calculated as follows

= $300,000×0.05

= $15,000

Hence, the transaction will increase the gross domestic product by $15,000

5 0
3 years ago
Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research quest
lapo4ka [179]

The correct answer is C) 2nd Circuit or the Federal Circuit. 

Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research question. The circuits that she would prefer to have issued the opinion are the 2nd Circuit or the Federal Circuit. 

Princess has to go to the 2nd Circuit Court of Appeals that is located in Manhattan, New York, at the Thurgood Marshall US Courthouse. It exercises federal jurisdiction in six districts of the states of Vermont, New York, and Connecticut.  The 2nd Circuit Court of Appeals was established by Congress in 1891.

5 0
3 years ago
Other questions:
  • Wesley has recently graduated and accepted his dream position with a law firm. The human resources team has requested that he tu
    15·1 answer
  • A ScrumMaster's role is to also be a Servant Leader. Which of the following characteristics is not a Servant Leader characterist
    7·1 answer
  • The health care workforce during the current market-driven changes is experiencing: A. Significant expansion at professional lev
    11·1 answer
  • SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company’s products is grilled salmon in dill
    8·1 answer
  • Gregory is a manager in an insurance company and heads a team of 30 agents. In order to meet the company's target, every agent n
    7·2 answers
  • What can organizations do to keep rewards individualized enough to meet various employee needs (needs theory) while trying to en
    8·1 answer
  • The journal entry to record direct labor used in process costing is a(n): Multiple choice question. increase in assets and an in
    11·1 answer
  • The May transactions of Whispering Winds Corp. were as follows. May 4 Paid $690 due for supplies previously purchased on account
    10·1 answer
  • Offering a better warranty is an example of competing on:
    11·1 answer
  • A _________ specializes in developing plans and recommendations that meet the software and system needs of an organization.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!