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Paha777 [63]
3 years ago
12

On July 1, a company paid the $600 premium on a one-year insurance policy with benefits beginning on that date. What will be the

insurance expense on the annual income statement for the first year ended December 31?
Business
1 answer:
Schach [20]3 years ago
8 0

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.

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Government policies that heavily tax some activities while subsidizing others and that fix or control interest rates will result
mart [117]

Answer: Government policies that heavily tax some activities while subsidizing others and that fix or control interest rates will result in lower productivity of investment.

Explanation: Lowering productivity of investment will cause the economy to not do as well due to the small level of investments happening. When the government heavily taxes different things, it lowers the amount of people purchasing those items due to the high rates.

7 0
3 years ago
Jeff and Rob have a difficult time getting along at work. Most days, Jeff spends a lot of time cracking jokes and goofing off, w
Over [174]

Answer:

D.

Explanation:

In this scenario when Rob stops nagging Jeff he is implementing the behavior modification known as avoidance learning. This technique theorizes that and individual tends to remove themselves from a scenario in order to avoid certain bad or stress inducing situation. Which Rob does in order to avoid having to deal with Jeff being cracking jokes and goofing off later.

8 0
3 years ago
Read 2 more answers
Suzanne works 25hours a week for four weeks at $9.50 per hour. How much does she earn at the end of four weeks?
Akimi4 [234]

Answer:

$950 in 4 weeks

Explanation:

25 x 9.5 = 237.5

237.5 = 950

OR

25hrs times 4 wks is 100hrs

100 x 9.5 = 950

6 0
3 years ago
The determinants of aggregate demand Multiple Choice explain shifts in the aggregate demand curve. explain why the aggregate dem
tamaranim1 [39]

Answer:

shifts in the demand curve

Explanation:

Aggregate demand is total value of goods and services demanded at a particular time in an economy. It indicate goods and services that will be bought at different prices.

The determinants of aggregate demand are factors that could cause shift in aggregate demand curve either to the left or right. A shift in aggregate demand curve to the right means an increase in quantity demand while a shift to the left means a decrease in quantity demand at every price level.

The determinants are ;

Price of the goods - An increase in price of the goods itself will bring about shift in the demand curve to the left and vice versa

Consumer expectations- When consumers expect price of goods to be high, demand curve would shift to the right and vice versa.

Price of related goods- An increase in price of related or complementary good would cause the demand to either shift to the left or right.

Income of the buyers - Increase in come of buyers would shift the demand curve to the right and vice versa.

Taste or preference of consumers- When consumer's preference shift in favour of a product, demand for such product would increase thus shifting the demand curve to the right.

3 0
3 years ago
he annual interest on a $9000 investment exceeds the interest earned on a $1000 investment by $534. The $9000 is invested at a 0
Nadya [2.5K]

Answer:

The interest on investment of $9000 and $1000 is 5.41 % and 4.81% respectively.

Explanation:

Let i be the interest rate on $ 9000 investment, then

9000i + 1000(i -0.006) = $ 535

10,000i = 541

i = 5.41 % on investment of $ 9000.

than on  $1000 investment interest = 5.41-0.6 = 4.81 %

4 0
3 years ago
Read 2 more answers
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