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Blizzard [7]
3 years ago
7

On May 1, a two-year insurance policy was purchased for $26,400 with coverage to begin immediately. What is the amount of insura

nce expense that would appear on the company's income statement for the first year ended December 31?
a. $1,800.

b. $12,600.

c. $14,400.

d. $16,200.

e. $43,200.
Business
1 answer:
Ket [755]3 years ago
8 0

Answer:

$8,800

Explanation:

Calculation for What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31

First step is to calculate insurance amount per year

Insurance=$26,400/2 years

Insurance= 13,200

Second step is to calculate the insurance value per months

Insurance value=13,200/12 months

Insurance value=1,100

Now let calculate insurance expense

Insurance expense =$1,100 x 8 months

Insurance expense = $8,800

Note that May 1 to December 31 will give us 8 months

Therefore the amount of insurance expense that would appear on the company's income statement for the first year ended December 31 will be $8,800

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Holton is the manager at a small restaurant what can he do to ensure the work place offers a safe environment for employees
adoni [48]

Answer:

A. Require all employees to wear slip resistant shoes.

<u></u>

<u>Options for this question</u>

A. Require all employees to wear slip resistant shoes.

B. Allow employees to eat one meal from an employee menu during their shift.

C. Train employees to provide great customer service.

D. Have employees set all the tables at the beginning of their shift.

Explanation:

Restaurants operate while maintaining high levels of hygiene. Cleaning is a continuous process as long as the restaurant is open. Due to this fact, the floor is bound to be slippery most of the time. With such conditions, slip-resistant shoes should be part of an employee's personal protection equipment, PPE.

A manager concerned with employee safety will insist on slip-resistant shoes to prevent workplace accidents. The other options are not about employee safety in the workplace.

3 0
3 years ago
Typically, the firms' lowest cost source of financing is ____________ as its cost is tax deductible and it also tends to offer t
Finger [1]

Answer:

Debt

Explanation:

Debt is the lowest cost source of financing because the <em>interest</em> return given to holders of debt has a <em>tax shield</em> (tax deductible) that is provided by the Section 11j  of the Income tax Act.

The other sources of finance give a return in form of <em>dividends</em>. Dividends are are not tax deductible hence they attract a huge cost.

6 0
3 years ago
A married couple is trying to conceive a child. The man works outside during the hot summer months and is also taking medication
Ymorist [56]

Answer:

Hi

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Another type of medications that cause involuntary tremors and that can affect sperm production are statins and fibrates, these medications are likely to interfere with the production of testosterone, estrogens and other sex hormones by affecting the availability of cholesterol, an essential component for certain hormones

Explanation:

5 0
3 years ago
Laubitz Company begins operations on Apr.1. Information from job cost sheets shows the following:
Inessa [10]

Answer:

1. 2. April 30 $11600

31-May $20100

2. April 30 $3,200

31-May $11,90

3. Profit April 0

May$800

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Explanation:

1) Calculation for Work in Process Inventory at

April 30 and 31-May

Work in Process Inventory at

April 30=7500+4100

Work in Process Inventory at

April 30=$11600

Work in Process Inventory at31-May =4100+6900+4700+4400

Work in Process Inventory at31-May= $20100

2) Calculation for Finished Goods Inventory at

April 30 and 31-May

Finished Goods Inventory at

April 30: $3,200

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Finished Goods Inventory at 31-May= $11,900

3) Calculation for Gross Profit

Gross Profit April : 0

Gross Profit May =3200*25%

Gross Profit May=800

Gross ProfitJune :- Job 10 =(7500+4400)*25% Gross Profit June 2975

6 0
2 years ago
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