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nexus9112 [7]
3 years ago
5

Aurora corporation operated without insurance coverage for the first month or operations then on February 1st the company paid t

he $4,800 premium on a 2-year insurance policy with benefits beginning on that date the company uses the cereal basis how much insurance expense will be reported on the companies income statement for the first year ended December 31st
Business
1 answer:
Oksanka [162]3 years ago
4 0

Answer:

$2200

Explanation:

The accrual basis recognizes revenues and expenses when the event warranting the income or expenditure occurs. In this case, the expenditure to be recognized is for the 11 months of insurance coverage.

For 24 months, the premiums are $4800. premiums for one month will be

= $4800/24

=$200

Premiums for 11 months

= $200 x 11

=$2200

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Answer:

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Explanation:

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3 years ago
The ________ technique fits situations where more recent events carry greater influence. a. dynamic forecasting b. moving averag
zheka24 [161]

Answer: a. Dynamic forecasting

Explanation:

Dynamic forecasting has to do with when the forecasted value or the predicted value of the dependent variable that us lagged in a research is used rather than using the actual value.

The dynamic forecasting technique fits situations where more recent events carry greater influence.

4 0
3 years ago
Airline travel and car rentals are complement goods. What happens first when
LenaWriter [7]

Answer:

D. The quantity of car rentals demanded goes up.

Explanation:

Complimentary goods are products that are used together. If Airline travel and car rentals are complementary goods, it means the two products must be used together. Either of the products will not add much value to the customer if purchased alone.  

Complimentary products have a joint demand. An increase in demand for one good leads to an increase in demand for the other product. If the demand for Airline travel rises, the demand for car rentals also increases. A decrease in demand will have similar effects.

7 0
3 years ago
Cardco Inc. has an annual accounting period that ends on December 31. During the current year a depreciable asset that cost $46,
nexus9112 [7]

Answer:

$3,433.33

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

Annual depreciation

= ($46000 - $4800)/4

= $10,300

In the current year, the asset would only be depreciated for 4 months

= 4/12 * $10,300

= $3,433.33

6 0
3 years ago
What is the purpose of NCUA Lending Regulations?<br> plato ❤️
wariber [46]

Answer:

The National Credit Union Association is a entity that monitors and regulate the Credit Unions which are organizations that are part of a cooperative and give credit to its members.

It was created in 1934 by the president Franklin Delano Roosevelt.

5 0
3 years ago
Read 2 more answers
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