ब्दितात शान्तनुका लागि)
1 answer:
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Answer:
a. Debit to Prepaid Insurance of $10,000
* Option for this question was missing so I have attached a similar question with this answer and answered accordingly.
Explanation:
Insurance purchased for four years was actually prepaid insurance on May 1, Year 2.
The company expensed all amount by positing following entry ( which is a wrong entry)
DR. Insurance Expense $12,000
Cr. Cash $12,000
It should be entered as follow:
DR. Prepaid Insurance $12,000
Cr. Cash $12,000
At the end of the year 2 8 months has been passed for which $2,000 is accrued and it will be recorded, as all the amount is charged to the expense account we will adjusted the remaining amount of $10,000 to correct this mistake.
Now at the end of year 2 the correct entry which will settle the expense and prepaid insurance as well is as follow.
DR. Prepaid Insurance $10,000
Cr. Insurance Expense $10,000
Answer:
Missing word <em>"Roll over each of the items below to read about the proportion of marketing employees at different times. Then drag each item into the correct position in the matrix."</em>
Note: The matrix in the question is attached as picture below
Year 2016
Sales mgr Sales Rep Sales asst. Not in
Organisation
<em>2012</em>
Sales Maintain Management Manager Manager
manager Management Representative Assistant Turnover
Position Demotion Demotion
Sales Rep Sales Rep Maintain Rep Rep assistant Sales Rep
Promotion Position Demotion
Sales Asst manager Management Maintain asst. Sales Asst
assistant Promotion Promotion position Turnover
Not in Manager New Sales Rep Sales Assistant
Organi- Hire New Hire New Hire
sation
