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Dennis_Churaev [7]
3 years ago
13

On July 1, 2020, Pearl Co. pays $13,620 to Martinez Insurance Co. for a 3-year insurance policy. Both companies have fiscal year

s ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Martinez Insurance Co. Martinez uses the accounts Unearned Service Revenue and Service Revenue.
Business
1 answer:
Sati [7]3 years ago
8 0

Answer:

Explanation:

The journal entry is shown below:

1st July Debit Prepaid insurance $13620

Credit Cash $13620

31st December Debit Insurance expenses $2270

Credit Prepaid insurance $2270

Insurance expense was calculated as:

= $13620/3 years × 6months/12months

= $4540 × 1/2

= $2270

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trapecia [35]

Answer:

D

Explanation:

This is a false statement, because economic growth hinges on the quality and type of investment as well as the human capital and improvements in technology.

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4 years ago
The company can manufacture either two food processors per machine hour or three espresso machines per machine hour. The​ compan
tekilochka [14]

Answer:

The contribution margin per machine hour is $150.

Explanation:

Note: The missing part of the question is

                  Food Processor Espresso Machines

Sales price           $125                 $225  

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Solution

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​Thus, the contribution margin per machine hour for food​ processors is $150.

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3 years ago
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This is a little hard to read but:

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3 0
3 years ago
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Answer:

The answer would be

Explanation:

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3 years ago
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