Can anyone let me use their Netflix account?<br>Thank you!

A 12-month insurance policy was purchased on Dec. 1 for $3,600 and the Prepaid insurance account was increased for the payment.

miss Akunina [59]

Answer:

The correct answer is C

Explanation:

The insurance policy was purchased on Dec 1 worth $3,600, so on Dec 31, the entry to be recorded is as follows:

Insurance expense A/c............................Dr $300

Prepaid insurance A/c.........................Cr $300

When the asset is charged on to the expense account then the expense account of the insurance is debited against the account of the prepaid insurance.

Working Note:

Amount = Insurance amount / Number of months

= $3,600 / 12

=$300

5 0

3 years ago

Rankin Corp. common stock is priced at $74.20 per share. The company just paid its $1.10 quarterly dividend. Interest rates are

Luda [366]

Answer:

The answer is $0.12 gain

Explanation:

We will be obtaining the no-arbitrage premium of the corresponding put as dictated by put-call parity, as follows: V P (0, K = 70, T = 0.5) = V C (K = 70, T = 0.5) + e rt K S(0) + P V 0,T (Dividends)

= 6.50 + exponential (0.03 70 74.20) + e (0.06 0.25 1.10) + e (0.06 0.5 1.10)

= 67.70 + 0.97 70 + 0.98 1.10 + 0.97 1.10

= 67.70 + 68.97 + 1.08 = 2.38.

Since we have decided to short the call at a premium higher by $0.12, the answer is $0.12 gain.

Thank you.

7 0

3 years ago

Nieland Industries has two production departments: Fabricating and Finishing. Beginning inventories are: Work in Process—Fabrica

irina [24]

Answer:

Explanation:

1 Dr Raw Materials Inventory 40,000

Cr Accounts Payable 40,000

2 Dr Factory Labor 65,000

Cr Wages Payable 65,000

3 Dr Manufacturing Overhead 35,000

Dr Accounts Payable 5,000

Cr Cash 30,000

4 Dr Work in Process—Fabricating 10,000

Dr Work in Process—Finishing 8,000

Dr Raw Materials Inventory 18,000

5 Dr Work in Process—Fabricating 13,000

Dr Work in Process—Finishing 52,000

Cr Factory Labor 65,000

6 Dr Work in Process—Fabricating 10,000

Dr Work in Process—Finishing 20,000

Cr Manufacturing Overhead 30,000

5 0

3 years ago

Data concerning Pony Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 200 100 % Variable exp

Luda [366]

Answer:

$18,000

Explanation:

The computation of overall effect on the company's monthly net operating income is shown below:-

Current Proposed

Sales $800,000 $837,000

(200 × 4000) (200 - 14) × (4,000 + 500)

Variable expenses $160,000 $180,000

(40 × 4000) (40 × (4,000 + 500))

Contribution margin $640,000 $657,000

Fixed expenses $531000 $566,000

($531,000 + $35,000)

Net operating

income $109,000 $91,000

Decrease in net operating income = Current - Proposed

= $109,000 - $91,000

= $18,000

So, for computing the overall effect on the company's monthly net operating income we simply applied the above formula.

8 0

3 years ago

Which of the following is not correct? a. The consumer price index gives economists a way of turning dollar figures into meaning

Marina CMI [18]

Answer:

The consumer price index is used to measure the quantity of goods and services that the economy is producing.

Explanation:

CPI or consumer price index is a measure of changes in the average prices of a basket of products and services in a given time. The selected goods and services are a fair representation of consumption expenditure in the economy. Economists use the CPI as a Macroeconomic indicator of inflation.

As a measure of inflation, the CPI statistics communicate increases or decreases in the prices of goods and services in the economy. It forms a basis for policy decisions by the government that aid in the prevention of reduced purchasing power of the dollar. CPI is all about changes in prices and nothing to do with the production of goods and services.

5 0

3 years ago

Can anyone let me use their Netflix account?Thank you! ​

Can anyone let me use their Netflix account?Thank you!