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bazaltina [42]
2 years ago
6

On July 1, a company paid the $3,360 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:
kiruha [24]2 years ago
8 0

Answer:

$1,680

Explanation:

Based On the information given if on July 1 the company paid the amount of $3360 as a premium on a year insurance policy which as well include benefits beginning on that date, What will be the insurance expenses on the annual income statement for the first year ended December is $1,680 Calculated as:

Insurance expenses=6/12*$3360

Insurance expenses=$1,680

Therefore What will be the insurance expenses on the annual income statement for the first year ended December is $1,680

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"Dan Druff Shampoo has 1,000,000 shares of common stock authorized with a par of $1 per share, of which 500,000 shares are outst
hram777 [196]

Answer:

Debit : Dividends $50,000

Credit : Cash $50,000

Explanation:

Dividend calculation = 500,000 shares x $1 x 1/10 = $50,000

To record the dividend, the following entry is made :

Debit : Dividends $50,000

Credit : Cash $50,000

8 0
3 years ago
When a perfectly competitive firm (that sells its good for $20 per unit) hires 1 unit of factor X it produces 70 units of output
Gelneren [198K]

Answer:

d)  $300

Explanation:

<em>Marginal revenue is the extra revenue from a resource the extra revenue earned from the use of additional  unit of a given resource for production purpose. It is calculated as the increase in total revenue as a result of utilizing one additional unit of a factor of production.</em>

Marginal revenue = total revenue from 85 units - total revenue from 70 units

Marginal revenue = ($20 × 85) - ($20× 70)

                           = $300

5 0
3 years ago
Read 2 more answers
which of the following is true of a sole proprietorship? a business operated under sole proprietorship cannot be transferred. b)
son4ous [18]

The statement that is true of a sole proprietorship is that a) a business operated under a sole proprietorship cannot be transferred.

A proprietorship can legally have the handiest one, proprietor. This is due to the fact the commercial enterprise serves as a part of the enterprise proprietor's private identification and vice versa. If a proprietor wants to expand their business and take delivery of new companions and traders, they would restructure the employer and contain it.

Any individual who wants to start a commercial enterprise with less investment can choose this sort of commercial enterprise form. It is able to be started in a time span of 10-15 days. Additionally, the control within the business is solely for your arms.

The proprietorship has been described because the only enterprise form underneath which you'll be able to perform a commercial enterprise. It isn't a legal entity and definitely refers to a person who owns the commercial enterprise, individually responsible for its debt.

Learn more about proprietorship here brainly.com/question/12913114

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8 0
1 year ago
Which balance-of-payments account would a country refer to in order to understand the value of all the merchandise and services
Alex787 [66]

Answer:

The country would refer to the balance of payments current account.

Explanation:

The balance of payments current account is the account which measures all the exports, imports and unilateral transfers of funds, so all the services and goods being sold by the country to other countries, and bought by the country from other countries is recorded on the current account of balance of payments.

6 0
3 years ago
Tangible resources include:
erma4kov [3.2K]

Answer:

D.technological assets such as patents, copyrights, and innovation technologies.

Explanation:

Tangible resources are regarded as a physical asset with a set of value that are been owned by organization, companies. Tangible resources could be equipment, machinery, buildings, cash and so on.

It should be noted that Tangible resources can be in form of technological assets such as patents, copyrights, and innovation technologies.

They are important in finance because their utilization could be for very long time in the business.

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8 0
3 years ago
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