Answer:
$300
Explanation:
When insurance is paid in advance, the entries required are
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
Credit Prepaid Insurance
Amount of insurance expense as at 31 December (6 months between 1 July and 31 December)
= 6/12 * $600
= $300
The insurance expense on the annual income statement for the first year ended December 31 is $300.
Based on the perpetual system, a buyer can incur cash freight costs if they transport <u>Inventory</u>.
<h3>How are freight costs treated?</h3>
The perpetual system allows for the buyer of inventory to record the freight cost for the merchandise in the inventory account.
This means that the freight cost will be capitalized and added to the cost of the inventory to recover the costs.
Find out more on the perpetual system at brainly.com/question/25014592.
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Answer:
The strength of an organization's culture refers to how widely and deeply employees hold the company's dominant values and assumptions
Explanation:
The culture of an organization shows the working culture of the organization. It consists of duties, responsibilities, beliefs,values, ethics, policy, procedures that are to be followed by the all employees in the organization. There should be a good working culture so that everyone gots motivated so that they perform their task better
Therefore according to the situation the option is A as it refers to the culture of the organization that understands that how broadly needs to understand the employees so that we can improve the profit of the organization by taking care of beliefs and values.
Answer:
C) $220
Explanation:
First calculate the APR using an EAR of 14.7% and monthly compounding,
which comes to 13.7937 %. Then using a periodic rate of 13.7937 /12, calculate
the payment over 48 months that gives a future value (FV) of $14,000 , which is
$110.15.
Answer: See explanation
Explanation:
1. Ownership rights cannot be easily transferred - False
The ownership rights can be transferred easily.
2. Owners have unlimited liability for corporate debts - False
They have a limited liability.
3. Capital is more easily accumulated than with most other forms of organization. - True
This is true as shares can be issued in order to generate capital.
4. Corporate income that is distributed to shareholders is usually taxed twice. -
True
5. It is a separate legal entity. - True
The corporate form of organization enjoys separate existence as their assets and the liabilities of the organization are different from their owners.
6. It has a limited life. - False
They've an unlimited life.
7. Owners are not agents of the corporation. - True
This is true. It should be noted that the owners aren't the agents of the corporation.
