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
It is sometimes difficult to determine whether large corporations such as the Carlyle Group, or Wall Street overall, are expandi
goldenfox [79]

Answer:

rent seeking company

Explanation:

Currently most large corporations operate as monopolies or oligopolies which gives them huge market power and they generally abuse of it.

Rent seeking happens when companies (usually very large companies) increase their profits without an increase in productivity.

Corporations seek higher rent usually through lobbyists that obtain political favors for them, e.g. lower taxes, grants, subsidies, or tariff protection.

6 0
3 years ago
The following errors took place in journalizing and posting transactions:
kirill115 [55]

Answer: See explanation

Explanation:

The journal entry to correct the errors is given below:

a. Dr Cash $8400

Cr Account receivable $8400

b. Dr Supplies $2500

Cr Office equipment $2500

Dr Supplies $2500

Cr Account Payable $2500

Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.

6 0
2 years ago
What is the formula for determining productivity?!
Iteru [2.4K]

Answer:

Output/Input (APEX) <--------

Explanation:

This is the <u>CORRECT</u> answer for APEX.

8 0
3 years ago
Edith Carolina is president of the Deed Corporation. The company is decentralized, and leaves investment decisions up to the dis
Softa [21]

Answer:

Check the explanation

Explanation:

In this case option A is the correct option, i.e. Carolina will accept the new cosmetic line but Sanders will reject the new cosmetic line. This is because Carolina being the president of Deed Corporation would like to take the cosmetic line differently and with the expected rate of return of 12%, i.e. higher than the minimum required rate of return of 8%.

However, Sanders has achieved a 14% rate of return from his cosmetic division thus, being the manger he would not like his performance to go down with 12% return from the new cosmetic line. Thus, option A is the correct option.  

8 0
3 years ago
How is the dual credit program different from the AP program?
olga55 [171]

AP courses are part of the College Board organization that requires students to take a rigorous test at the end of the course to potentially earn college credit. A dual credit course on the other hand is an official course at Loyola University Chicago.

3 0
3 years ago
Read 2 more answers
Other questions:
  • Alpha Company makes all its sales on account. Accounts receivable payment experience is as follows: Percent paid in the month of
    8·1 answer
  • The company pays cash for a piece of equipment. the list price was $9,100, but after negotiation, the final purchase price was $
    13·1 answer
  • Newland and Palermo form a partnership. Newland contributes land with a book value of $50,000 and a fair value of $60,000. Newla
    7·1 answer
  • Fordon Corporation purchased a piece of equipment for $50,000. It estimated a 8-year life and $2,000 salvage value. At the end o
    8·1 answer
  • Analysts say visitors stay an average of how many seconds on any webpage?
    5·1 answer
  • The future value and present value equations also help in finding the interest rate and the number of years that correspond to p
    10·1 answer
  • Automated bidding does the heavy lifting for advertisers on Google Ads. What does automated bidding use to set the right bid for
    13·1 answer
  • Pharoah Company began the year by issuing $77500 of common stock for cash. The company recorded revenues of $783000, expenses of
    10·1 answer
  • First National Bank charges 13.5 percent compounded monthly on its business loans. First United Bank charges 13.8 percent compou
    5·1 answer
  • Which internal control procedure is violated when the cashier at the checkout stand also records the daily receipts in the journ
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!