Answer:
c.Insurance expense would be debited for $300.
Explanation:
Provided that
12 month insurance policy purchased on Dec 1 = $3,600
So, the adjusting entry on Dec 31 would be
Insurance expense A/c Dr $300
To Prepaid Insurance $300
(Being insurance expense is recorded)
The computation is
= $3,600 ÷ 12 months
= 300
As we have to compute for 1 month so we recorded $300 insurance expense
Answer:
a rational investor will only take on higher risk if he expects a higher return.
Explanation:
Rate of return can be defined as the percentage of interest or dividends earned on money that is invested.
In Financial accounting, a return refers to the amount of profit generated by an investor on an investment over a specific period of time.
Basically, the rate of return which is typically expressed as a percentage of the initial costs of an investment can either be a gain or a loss on an investment. Therefore, a positive rate of return on an investment over a specific period of time, simply means that an investor is making a profit (gains) while a negative rate of return on an investment over a specific period of time, indicates that the investor is running at a loss.
Hence, the rate of return is used as a long-term decision-making tool to determine whether or not an investment is worth it.
Thus, the principle of risk-return trade-off means that a rational investor will only take on higher risk if he expects a higher return.
Answer:
Please see balance sheet below.
Explanation:
Wolfpack construction balance sheet.
Dec 31
Assets $
Cash 6,000
Land 18,000
Equipment 26,000
Total assets 50,000
Liabilities.
Accounts payable 3,000
Notes payable 20,000
Total liabilities 23,000
Equity
Common stock 11,000
Retained earnings 16,000
Total stockholders equity. 27,000
Total liabilities and stockholder's equity(23,000 + 27,000) 50,000
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A is the answer i am very good at loans and the answer is A
