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sashaice [31]
3 years ago
13

On January 1, DogMart Company purchased a two-year liability insurance policy for $32400 cash. The purchase was recorded to Prep

aid Insurance. How much would be the January 31 amount recorded to expense (use two decimals)?
Business
1 answer:
aleksley [76]3 years ago
4 0

Answer: $1,350

Explanation:

The insurance is for 2 years but has to be apportioned monthly on account of the Accrual basis in Accounting where expenses will only be recognized when they are incurred.

The expense to be recorded for the first month will therefore be:

= 32,400 / 24 months

= $1,350

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I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!
3 0
3 years ago
When managing your human resources, _____________ is the process of deciding who should be hired, under legal guidelines, to ser
UkoKoshka [18]

Answer:

Interview

Explanation:

An interview is an official conversation between an interviewer and interviewee. The purpose of the interview is to asses whether the interviewee qualifies to hold the position. The interview process usually takes place on the employer premises. Apart from academic and work experience, the recruiting manager assesses other qualities that would make the candidate suitable to work in that organization. Such traits may include teamwork and leadership.

When conducting interviews, an employer will invite several qualified candidates.  The interviewer or the interviewing panel scores each candidate and selects the best. The interview presents the candidate with an opportunity to learn fine details about a potential employer. Specific detail about the job, such as the terms and conditions, are disclosed.  

3 0
4 years ago
2. Why might this be the perfect advice for beginning investors?
soldi70 [24.7K]

Explanation:

Getting the right education is one of the best pieces of advice I would send to someone who is only learning to invest. Investing is all about purchasing firms that you know and appreciate, that have a strong competitive edge, and that have a solid management team, all at a decent price.

8 0
3 years ago
The total amount of equity (common stock, additional paid-in capital and retained earnings) that should appear on the balance sh
alex41 [277]

Answer:

Equal to the sum of their net assets (whether or not the assets are revalued)

Explanation:

Mathematically, equity equals the total asset of a company, less its total liabilities. This is also referred to the net assets of the company.

Equity = Total Assets - Total Liabilities

However, when two companies are merging, the total assets of the combining companies are usually revalued to reflect their current values and not the historical values usually carried in the books before the merger. In a revaluation, if the value of total assets increases, a corresponding increase will be recorded in Equity (revaluation surplus). This keeps the Equity-Net Assets equation equal at all times.

Thus, when two companies merge, the total amount of equity of the combined companies will equal the net assets of the combined companies, irrespective of whether a revaluation of the assets of the companies was done or not.

5 0
3 years ago
In the market for financial capital, ________.a. those who demand financial capital receive interest on loans. b. those who supp
Flauer [41]

Answer:

The answer is C.

Explanation:

In financial market, it is the money that customers save that is available for loans. So customers supply money for loan into the financial market, and the demand for this money makes loan.

The financial markets help to save money for the future and to borrow money for current use.

3 0
4 years ago
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