1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bad White [126]
3 years ago
5

QS 3-7 Adjusting prepaid (deferred) expenses LO P1 For each separate case, record the necessary adjusting entry. On July 1, Lope

z Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchased $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31.
Business
1 answer:
kicyunya [14]3 years ago
5 0

Answer:

S/n   General Journal              Debit      Credit

a       Insurance expense        $1,200

               Prepaid Insurance                   $1,200  

        (To record insurance expired)

b       Supplies expense          $6,200

                Supplies                                  $6,200

                ($5,000 + $2,000 - $800)

         (To record supplies used)

You might be interested in
The concept of risk management is based on an assessment of benefits gained compared to the ___:
Tanzania [10]

Answer:

potential risk/threat

Explanation:

the concept of risk management is based on mitigating risk or avoid potential threat and plans of minimizing the impact should they occur.

5 0
3 years ago
If labor in mexico is less productive than labor in the united states in all areas of production:____.
Fudgin [204]

If labor in Mexico is less productive than labor in the united states in all areas of production then both Mexico and us still can benefit from trade.

Labor is the amount of physical, mental and social effort spent to produce goods and services in the economy. We provide the know-how, human resources, and services necessary to turn raw materials into finished products and services.

A business that requires more people and fewer machines is known as a labor-intensive business. The beauty, home construction, education and fashion industries are examples of labor-intensive industries.

Learn more about labor here:brainly.com/question/453055

#SPJ4

6 0
1 year ago
As part of his 401(k) retirement plan at work, Ken Lowery invests 6.0 percent of his salary each month in the Capital Investment
Gnesinka [82]

Answer:

The amount of the fee is $1689.60

Explanation:

The computation of the amount of the fee is shown below:

= Dollar value × fund charges a 12b-1 fee

= $211,200 × 0.8%

= $211,200 × 0.008

= $1689.60

Since the question has asked the fee amount so we consider the fee charges percentage, not the capital investment Lifecycle fund. Thus, we ignore the Capital Investments Lifecycle Fund as it is not relevant.

Hence, the amount of the fee is $1689.60

8 0
3 years ago
The PTA is holding a raffle. The prize is a camera worth $200. Each raffle ticket costs $5. One hundred tickets are sold and a w
Illusion [34]

Expected value of the purchase of a ticket would be $3.00.

<u>Explanation</u>:

Given,  

Raffle ticket costs = $5.00.  

The prize = $200.  

One hundred tickets are sold = 100 × 5  

                                                  = $500.00  

champ is drawn and given the prize of worth $200.  

                           $500 - $200 = $300  

So the normal estimation of the bought ticket = $3.00  

The expected estimation of the acquisition of a ticket would be $3.00.

   

5 0
3 years ago
Read 2 more answers
Smathers Corp. stock has a beta of 1.23. The market risk premium is 7.00 percent and the risk-free rate is 2.86 percent annually
Schach [20]

Answer:

the company's cost of equity is 11.47 %.

Explanation:

The Company`s cost of equity is the return that is required by holders of Common Stocks.

The Cost can be determined using the <em>Capital Asset Pricing Model</em> (CAPM) as follows :

Cost of Equity = Return on Risk Free Rate + Beta × Return on Market Portfolio

                       = 2.86 % + 1.23 × 7.00 %

                       = 11.47 %.

6 0
3 years ago
Other questions:
  • PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)
    6·1 answer
  • Joline works for Bell labs in New Jersey. Joline invents a new technology that stops global warming while she is at work on comp
    10·1 answer
  • Bohemian Manufacturing Company has the following end-of-year balance sheet:
    8·1 answer
  • Since the great recession, americans' primary _____ have been rising costs and stagnant income.
    13·1 answer
  • The ready availability of so much information catches some managers in this dilemma. 1. data overload 2. analysis paralysis 3. i
    5·1 answer
  • The sneaker company that you work for had a great marketing campaign and has increased sales for the original running shoe that
    7·1 answer
  • What warranty is created when a merchant affirms that the goods meet certain standards of quality, description or condition?
    8·1 answer
  • A firm has unlevered beta of 1.1, and now its debt to equity ratio is 0.4. What is the levered beta assuming the tax rate is 40%
    13·1 answer
  • The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.3 hours
    9·1 answer
  • What is plan and goal?​
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!