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DENIUS [597]
3 years ago
6

For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance.

Business
1 answer:
mestny [16]3 years ago
5 0

Answer:

dont be lonely

Explanation:

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Samson and Sons purchased a 6-month insurance policy for $1,200 which covers the months July through December. Initially the ent
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Answer:

The answer is D.

Explanation:

To increase asset and expense, you debit while credit decreases it.

To increase, liabity, revenue(income), equity, you credit while debit decreases it.

An insurance that has been prepaid is an asset because the benefit has not been fully utilised.

Samson and Sons has paid for an insurance that will expire December at the beginning of July.

$1,200 for 6 months.

Samson and Sons needs to recognize this as the service is being enjoyed monthly.

Therefore, insurance expense every month will increase by $1,200/6

$200

Remember that expense increase by debit and asset(Prepaid Insurance) decrease by credit.

So we have:

Debit insurance expense $200; Credit prepaid insurance $200

3 0
3 years ago
A Machine makes 5 buttons at a time each doll shirt gets 5 buttons how many doll shirts can be finished with 5 buttons
Tems11 [23]

Answer:

1

Explanation:

If each doll shirt gets 5 buttons then only one can be finished with 5 buttons.

6 0
3 years ago
Which sentence best completes the diagram?
Sauron [17]

Answer:

The answer might be option no C

5 0
3 years ago
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Progressive companies who want to attract and keep good employees are now offering their employees ________ benefits, such as on
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<span>Progressive companies who want to attract and keep good employees are now offering their employees fringe benefits, such as onsite dry cleaning services, shoe repair, onsite medical care, and even free breakfasts. These benefits attract quality employees to the companies and the company ultimately benefits from the addition of such employees. It is actually a mutually beneficial effect.</span>
3 0
3 years ago
:How is a ‘provision for reserve’ in a balance sheet, a liability or an asset. Explain.
Maslowich

Explanation:

A provision is indeed an item freed up from either a company's revenue to cover potential future costs or a probable property price decrease. It shows up as spending on the financial statements and is documented as a current liabilities.

3 0
2 years ago
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