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sergejj [24]
3 years ago
8

What is the adjusting journal entry to update the Prepaid Insurance account?

Business
1 answer:
muminat3 years ago
5 0

Answer:

the correct journal entry to be recorded when the prepaid insurance payment is realized is,

A) Debit Insurance Expense

Credit Prepaid Insurance

Explanation:

prepaid insurance is an asset to the company, which means that we have paid in advance. because of this, when we pay it in advance, the entry will be

"prepaid insurance debit

money/bank         credit"

this asset was created because the payment we made for the insurance does not belong to this accounting time period and it belongs to the next accounting period. matching concept is the underlying concept behind this.

once we reach the next time period, the prepaid expense becomes a actual cost and the asset is decreased.  

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Checking a new test to be certain that it contains items that it would be expected to contain based on the relevant literature p
kozerog [31]

Answer: Content

Explanation:

The content validity is the is one of the important methodology that is use for recognize and also evaluate the given content properly. The content validity is statistically evaluate and test the assessment through the subject matter expert.

The content validity measure the knowledge in the domain of the content. According to the question, checking the new content based on the relevant literature that providing the content validity.  

 Therefore, Content validity is the correct answer.

6 0
3 years ago
___________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, desirable u
jarptica [38.1K]

Answer:

Positioning

Explanation:

Positioning is the final process in segmenting, targeting and positioning (STP), and is the more business-orientated stage, where the business must assess its competitive advantage and position itself in the consumer's minds to be the more attractive option in these categories.

Positioning (or product positioning) is how the product is designed to be perceived in the marketplace by the target market against its main competitors. In other words, it’s basically how consumers understand the product offering and how it differs from similar competitive offerings.

4 0
3 years ago
Bedrock Company reported a December 31 ending inventory balance of $414,500. The following additional information is also availa
Rashid [163]

Answer:

$389,100

Explanation:

Calculation to determine what the correct balance for ending inventory on December 31 is:

Using this formula

Ending inventory on December 31=Ending inventory balance-Office supplies

Let plug in the formula

Ending inventory on December 31=$414,500- $25,400

Ending inventory on December 31=$389,100

Therefore the correct balance for ending inventory on December 31 is:$389,100

5 0
3 years ago
The Bay Fig Corporation has $350,000 of taxable income from operations for the current year, and dividends of $50,000 received f
Natali5045456 [20]

Answer: $25,000

Explanation:

When a company owns less than 20% of another company and receives dividends from that company, they are allowed to deduct 50% of that dividend for tax purposes.

Bay Fig owns 10%(less than 20%) of the domestic corporations so qualifies for the 50% reduction:

= Dividends * 50%

= 50,000 * 50%

= $25,000

3 0
3 years ago
The forum corporation identifies three characteristics of successful leaders:
Colt1911 [192]
<span>The three main characteristics are: taking responsibility for one's actions, creating a vision for the group to understand and to operate by, and supporting the people they are leading. By having these three characteristics, those who wish to be leaders can be more effective in their tasks and over those they control.</span>
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3 years ago
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