B YOU CAN ONLY CONTRIBUTE UP TO MAXIUM AMOUNT PER YEAR
Answer:
The required adjusting journal entry on December 31 includes a:
Debit Insurance Expense $400
Credits Prepaid Insurance $400
Explanation:
On Dec. 1, a 12-month insurance policy was purchased and paid in advance for $4,800. The company records the insurance as the prepaid Insurance:
Debit Prepaid Insurance $4,800
Credit Cash $4,800
On December 31, the last day of the following 1 months, the company records an adjusting entry that Credits Prepaid Insurance for $400 ($4,800 divided by 12 months times the 1 months that will be prepaid as of December 31) and Debits Insurance Expense for $400
Debit Insurance Expense $400
Credits Prepaid Insurance $400
Answer:
Explanation:
There are three ways to propagate a plant: dividing (separating an already growing plant into two), rooting a leaf (typically done with succulents), or rooting a cutting (a small stem with leaves).
Answer:Using the double entry principle ,input the transaction considering the positive and negative reflection and using the reserves and checkable account
Explanation:T-account for the First National Bank:
Assets reflect negative 75in reserves; liabilities reflect negative 75 in checkable deposits.
T-account for the Second National Bank:
Assets reflect positive 75in reserves; liabilities reflect positive 75 in checkable deposits
Answer:
C
Explanation:
The principal-agent problem is the conflict of interest that occurs between the principal and the agent. The principal expects the agent to act in his best interest but this might not be the case as the agent might pursue his own personal interest to the detriment of the principal.
For example, an agent might take on a project that has a negative NPV because he wants to increase the amount of project he handles so he would appear more important. This would be at the detriment of the principal but an advantage to the agent