The adjusting entry on December 31 includes <u>a debit to Insurance</u> <u>Expense; a credit to </u><u>Prepaid Insurance</u>
This is further explained below.
<h3>What is fire insurance?</h3>
Generally, A valid contract even against loss or damage caused by an unintentional fire or other incidents that are normally covered under a fire policy is what is known as fire insurance.
The term "fire insurance" refers to a kind of homeowners insurance that compensates the policyholder for financial losses and damages brought on by the fire.
In conclusion, There is often some level of fire protection included in the majority of plans; however, homeowners may be able to obtain extra coverage in the event that their property is destroyed or damaged as a result of the fire.
Read more about fire insurance
brainly.com/question/27822778
#SPJ1
Answer:
d) partly a variable cost and partly a fixed cost.
Explanation:
CVP income statement is also known as cost volume profit income statement, it is generally a product of CVP analysis and it include five elements:
- Price of products.
- Volume of activity.
- Variable cost per unit.
- Total fixed cost.
- Mix of product sold.
CVP analysis are conducted to know how changes in cost and volume would impact company´s operating income and net income. It require all the cost of company should be segregated into variable and fixed cost. It also calculate contribution margin, which help to identify the profit of company before deducting fixed cost.
Answer:
$0.9
Explanation:
Data provided in the question:
Earnings after taxes = $108,750
Interest expense for the year = $20,000
Preferred dividends paid = $18,750
Common dividends paid = $30,000
Common stock outstanding = 100,000 shares
Now,
Earning available on common stock
= Earnings after taxes - Preferred dividends paid
= $108,750 - $18,750
= $90,000
Therefore,
Earnings per share on the common stock
= Earning available on common stock ÷ Common stock outstanding
= $90,000 ÷ 100,000
= $0.9
Answer:
d. a copy of a receiving report is sent to the cashier
Explanation:
In the case of the horizontal flows with respect to the account payable or cash disbursements, it involved the invoice i.e. collected from the vendor, the voucher i.e. returned and the approved disbursement voucher is sent to the cashier but it does not involve the receiving report that sent to the cashier
Therefore the correct option is d.
An entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
