The adjusted balance for Prepaid Insurance is a $7,224 debit. Insurance Expense for the period was $1,136.

Fantastic news! We've Found the answer you've been seeking!

Question:

What was the balance for Prepaid Insurance on the unadjusted trial balance?

Related Book For answer-question

Accounting

ISBN: 978-0176509743

Volume 1, 2nd canadian Edition

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

See More Books

Posted Date: May 15, 2023 03:36 AM

See More Questions

(Adjusting Entries) Greco Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Other data: 1. The balance in prepaid insurance is a...
Refer to Exercise 3-26A. Requirements 1. Use the data in the partial worksheet to prepare Crawford Production Companys classified balance sheet at December 31 of the current year. Use the report...
Greco Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Other data: 1. The balance in prepaid insurance is a one-year premium paid...
Six months ago, Qualitybank issued a $ 100 million, one-year-maturity CD, denominated in British pounds (Euro CD). On the same date, $ 60 million was invested in a -denominated loan and $ 40 million...
We-Clean, Inc., is a home-cleaning service. It originally specialized in serving small residential clients but recently started contracting for work in large apartment and office buildings. Julie...
Two ordinary fair dice are rolled. Event X is the product of the two numbers obtained is odd. Event Y is the sum of the two numbers obtained is a multiple of 3. a. Determine, giving reasons for your...
Consumers use one of three decision-making processes when purchasing goods or services: routinized response behavior, limited decision making, or extended decision making. Describe three buying...
How many moles of water are there in 1.000 L? How many molecules?
The management of Ballard MicroBrew is considering the purchase of an automated bottling machine for $62,000. The machine would replace an old piece of equipment that costs $16,000 per year to...
Roadrunner Bookstore uses the perpetual inventory system. Roadrunner Bookstore is owned by Tina Smith. The company had the following transactions for the month of September. Sep 1 Sep 2 Sep 4 Sep 5...
Prompt For this assignment, analyze the diversification strategy of either Disney or Kimberly-Clark using the documents linked within your Soomo webtext. Explain how critical thinking applies to...
Using the following direct labor information, calculate the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Standard...
9: (a) If x2+y+2x-4y + 5 = 0 find (b) If x = t+VE,y=t-VE find dy dx dx
a) Find the distance between the parallel lines 3x-4y+7=0 and 3x-4y+5=0. b) Prove that sinx + cosx = x[-1,1] c) Define scaler matrix with examples. d) Define symmetric and skew symmetric matrices...
You are to assume the role of a marketing director for BABY TIME EXPO, a two day trade show featuring products and services for expectant parents. The trade show's general manager has asked you to...
10: (a) Find Absolute maxima or minima of 2-|x| on [-2, 2] (b) Find maxima and minima of the function f(x)=x-3x+5
Su asesor de inversiones le informa que no necesita pagar unatarifa de servicio por sus servicios prestados. En su lugar,invierte su dinero durante un mes y se queda con las gananciasantes de inver 1...
According to a New York Times columnist, The estate tax affects a surprisingly small number of people. In 2003, . . . just 1.25 percent of all deaths resulted in taxable estates, with most of them...
In the Balance Sheet columns of the end-of-period spreadsheet (work sheet) for Lancaster Consulting Co. for the current year, the Debit column total is $375,000 and the Credit column total is...
The supplies and supplies expense accounts for Tims Trims and Cuts are shown at December 31 before adjustment at the end of the year. The final amount of supplies was counted and found to be $312....
Able Warehousing Co. decided to tear down and rebuild one of its storage units. The company spent $50,000 constructing the new storage units, $3,000 on paving, and $1,200 on new landscaping. Able...
For Shawn Green Company, units to be produced are 5,000 in quarter 1 and 6,000 in quarter 2. It takes 1.8 hours to make a finished unit, and the expected hourly wage rate is $12 per hour. Prepare a...
Jackson Heights Homes (JHH) has an issue of preferred stock that is supposed to pay a $4 dividend every quarter; however, they have not paid the last 24 quarterly dividends, the latest of which was...
Emil Company estimates that unit sales will be 10,000 in quarter 1; 12,000 in quarter 2; 14,000 in quarter 3; and 15,000 in quarter 4. Using a sales price of $70 per unit, prepare the sales budget by...

The adjusted balance for Prepaid Insurance is a $7,224 debit. Insurance Expense for the period was $1,136.

Question:

Expert Answer:

To determine the balance of Prepaid Insurance on the unadjusted trial balance we need to ... View the full answer

Accounting

Students also viewed these accounting questions