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Anna35 [415]
3 years ago
7

what is the effect on the financial statements when adjust the prepaid insurance account at year-end for insurance coverage whic

h has expire
Business
1 answer:
yan [13]3 years ago
5 0

Answer:

When prepaid insurance (or any other prepaid expense) is adjusted at year end in order to record accrued expenses, financial statements are affected in the following way:

  • income statement: costs increase, decreasing profits
  • balance sheet: assets and equity decrease
  • cash flow statement: cash from operating activities increases
  • owners' equity: decreases

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Fixed expenses and flexible expenses or Discretionary expenses
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As of 2011, about how large was the world's human population, and about how long will it take to add another billion
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Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collect
dangina [55]

Answer:

The correct option : B. Cost = $ 130.00 + $ 5.90 x Machine - hours

Explanation:

Let's use the following method to solve the given problem

Now applying the high-low method of cost estimation,

High => November, 5,300 machine hours

Low => March, 2,300 machine hours

Arranging it in a simultaneous equations for total cost:

We can let fixed cost per month to be F, and the variable cost per machine -hour be V, and the number of machine-hours be Q.

Therefore

Total cost = F + VQ

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Low => F + 2,300Q = $ 13,700

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F = $ 13,700 - ( 2,300 x $ 5.90) = $ 130......................................................................equation two

6 0
3 years ago
Using an ICD-10-CM code book, assign code(s) for the following diagnosis: Alcohol induced delirium tremens
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The ICD 10-CM code for Alcohol induced delirium tremens is F10. 921.

<h3>What is ICD 10-CM?</h3>

It should be noted that ICD 10-CM simply refers to the international classification of diseases.

In this case, the ICD 10-CM code for Alcohol induced delirium tremens is F10. 921.

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8 0
2 years ago
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Answer Explanation

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Audition. If the statement had been done conformed to GAAP it will be a positive audit.

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Corporation, raise fund from issuance of stock

The portion of stockholders’ equity that results from receiving cash from investors

Capital or total paid-in capital

Obligations to suppliers of goods

Account Payable is the liability account to represent thedebt with suppliers

Amounts due from customers

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A party to whom a business owes money

It is a debtor to the company and will be state under:

Account Receivable or Note receivable accounts

A business that is owned jointly by two or more individuals but does not issue stock.

partnership are integrate by more than one party

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