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
nadya68 [22]
3 years ago
7

On July 1, a company paid the $4,800 premium on a one-year insurance policy with benefits beginning on that date. What will be t

he insurance expense on the annual income statement for the first year ended December 31?
Business
1 answer:
JulijaS [17]3 years ago
4 0

Answer:

$2,400

Explanation:

First divide $4,800 by 12 = $400 per month. Since the company paid the insurance premium on July 1, it must recognize $2,400 (= $400 x 6) as insurance expense for the July - December period. The remaining $2,400 must be recorded under the Prepaid Insurance account which is an asset account in the balance sheet.

You might be interested in
South Beach Insurance is about to begin using a program that will change the way its adjusters settle insurance claims. Adjuster
klasskru [66]

Answer:

The correct answer is letter "A": innovative.

Explanation:

Innovative changes allow companies to use new strategies and technologies to improve the efficiency of their operations. Sometimes those changes are processes or technological devices created by the company itself while in other cases they are adopted from other entities with similar approaches and accomplish almost the same goal.

4 0
3 years ago
The Securities Investor Protection Corporation is a government agency charged with administering the liquidation of failed secur
deff fn [24]

Answer:

False

Explanation:

First of all, the Securities Investor Protection Corporation is not a government agency. The S.I.P.C was formed in 1970 under the Securities Investor Protection Act as a non-profit membership corporation.

In the unfortunate event that a securities firm fails (which is rather unlikely), the S.I.P.C steps in to help the investor. It can help by either transferring the accounts of the failed firm to a different firm or by liquidation.

4 0
2 years ago
Which of these banking services allows your paycheck to be transmitted electronically to your bank?
DiKsa [7]
The banking that allows that can be chase.
4 0
3 years ago
The table shows the predicted cost of attending an in-state four-year public college 4 years from now. Category Predicted Annual
astraxan [27]
<span>To find the cost of going to this college in four years, sum all the values given (9350 + 8630 + 1650 + 2140 + 1110), which gives $22,880 for attending. Subtracting 4500 for grants and 8630 for not having to live on-campus gives a value of $9750 required. Dividing this value by 48 months (the time left before he begins attending) gives an approximate value of $203.13 needed to be saved per month without any interest being added. To make sure that Caleb has enough if the $3.13 per month isn't made up by interest down the line, $300 should be saved each month.</span>
7 0
3 years ago
Read 2 more answers
A recent high school graduate is researching ways she can pay for her college education. She has received three small scholarshi
kkurt [141]

Answer:

C and D

Explanation:

My expertise is sucking d1ck #Po4n⭐4life

3 0
2 years ago
Other questions:
  • The actual cost of direct materials is $ 12.50 per pound. The standard cost per pound is $ 9.00. During the current​ period, 9 c
    8·1 answer
  • Wynstin landed a fabulous job as a financial consultant about six months ago. He is quite successful at his job and enjoys what
    10·1 answer
  • Melissa is the supervisor of customer service and she directly oversees the work of four customer service specialists. melissa w
    5·1 answer
  • Andy has a remaining balance of $845 on his credit card. His credit card company has an APR of 18 percent. How much will Andy pa
    14·1 answer
  • What is the difference between gross pay and net pay?
    13·1 answer
  • Commissions on the sale of _________ goods and commissions on financial transactions are counted in the gdp as part of “services
    9·1 answer
  • Tata Motors is an Indian multinational automotive company headquartered in Mumbai and a core member of the very successful Tata
    15·1 answer
  • Gregg Company uses the allowance method for recording its expected credit losses. It estimated credit losses at three percent of
    8·1 answer
  • If I have an F and have nothing to do. what should I do
    11·1 answer
  • in following the best practices for capital budgeting analysis we always try to evaluate incremental:
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!