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
andriy [413]
3 years ago
15

The prepaid insurance account had a balance of $3,000 at the beginning of the year. The account was debited for $32,500 for prem

iums on policies purchased during the year, ending on March 31.Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:
a. The amount of unexpired insurance applicable to future periods is $4,800
b. The amount of insurance expired during the year is $30,700. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
Nitella [24]3 years ago
5 0

Answer:

A.  Date   Account Title                 Debit        Credit

                Insurance expense      $30,700

                ($3000+$32500-$4800)

                       Prepaid insurance                  $30,700

B.   Date   Account Title                Debit          Credit

                 Insurance expense     $30,700

                          Prepaid insurance                 $30,700

You might be interested in
Career Cluster
Troyanec [42]

Answer: A

Explanation

4 0
2 years ago
Which crop saved jamestown by making money for the settlement’s investors?
Rasek [7]

Answer:

Tobacco

Explanation:

No explanation needed.

3 0
2 years ago
What are the four requirement of valid contract
timurjin [86]

Four requirements for a valid contract are an offer, acceptance by the other party of the offer, a mutual agreement or meeting of the minds of the contracting parties and a valid consideration.

3 0
3 years ago
Georgia, a widow, has take-home pay of $1,900 a week. her disability insurance coverage replaces 60 percent of her earnings afte
scoray [572]

Georgia will receive $17,100.

If Georgia was out of work for 19 weeks she would receive 60% of her weekly pay.

In order to calculate 60% you multiply $1,900 x .6 = $1,140.

Georgia’s Disability insurance will pay $1,140 per week after a four week waiting period. She is out for 19 weeks, so with the 4 week waiting period, she will collect benefits for 15 weeks. 15 weeks x $1,140 = $17,100 total.

5 0
3 years ago
Parne Two large American beer producers have decided to merge and seek government approval. They claim that by joining forces th
leonid [27]

Answer:

The correct answer is letter "A": Beer prices will go down.

Explanation:

Usually, when two large companies merge they take most or almost all part of their market causing a monopoly. This implies the recently-merged company to set the price of the goods according to what they believe is suitable which does not necessarily match with the consumers' expectations. However, for the companies in the case to prove the government that the merger will benefit the economy, they must show that the price of the beer will go down which is the opposite of what is expected under other regular situations.

5 0
3 years ago
Other questions:
  • A contract pledging title to assets as security for a node or bond is known as (an):
    14·1 answer
  • Jason, a manager, directs the efforts of others through tasks, rewards, and structures. he uses the __________ approach to leade
    10·1 answer
  • Buckson Framing's cost formula for its supplies cost is $1,350 per month plus $18 per frame. For the month of June, the company
    8·1 answer
  • Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $90,000). Five thousand pounds of Nuts can be sold
    12·1 answer
  • When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags.
    12·1 answer
  • You've just learned that tuition and fees for the next semester are expected to increase by 15%. How do you think this will impa
    5·1 answer
  • ________ is used heavily when introducing a new product category. the objective is to build primary demand.
    11·1 answer
  • Chris Anderson bought a Honda Civic for $17,345. He put down $6,000 and financed the rest through the dealer at an APR of 8.6 pe
    10·1 answer
  • g The Investment Trust Fund for Watson County had the following transactions and events during the calendar year 2022: 1. The ci
    9·1 answer
  • Scanlon Inc.'s CFO hired you as a consultant to help her estimate the cost of capital. You have been provided with the following
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!