Answer: C.) Neither approved the application nor issued the policy
Explanation:
Answer:
Explanation:
pretax book income 1,003,000
warranties increased 25,600
depreciation exceeded tax depreciation 100,300
dividends received deduction -15,300
Net amount $1,113,600
Taxable amount is $1,113,600
In order to find income tax expense or benefit, multiply the taxable amount by tax rate.
It’s possible to travel without one, but it will only increase the likelihood of unorganisation, procrastination and no plans of what to do
Answer:
C) $1,500.
Explanation:
The computation of the insurance expense is shown below:
The insurance expense would be equal to the expired amount of the prepaid insurance i.e $1,500
The adjusting entry is as follows
Insurance expense A/c Dr $1,500
To Prepaid Insurance $1,500
(Being insurance expense is recorded)
Therefore, the balance of the prepaid insurance is ignored.
