The balance in the prepaid insurance account, before adjustment at the end of the year, is $14,800.
Question:
(a) The amount of insurance expired during the year is $11,200;
(b) The amount of unexpired insurance applicable to future periods is $3,600.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
a Insurance Expense 11200 Prepa...View the full answer
Answered By
Mwangi Clement
I am a tried and tested custom essay writer with over five years of excellent essay writing. In my years as a custom essay writer, I have completed more than 2,000 custom essays in a diverse set of subjects. When you order essays from me, you are working with one of the best paper writers on the web. One of the most common questions I get from customers is: “can you write my essay?” Upon hearing that request, my goal is to provide the best essays and overall essay help available on the web. I have worked on papers in subjects such as Nursing and Healthcare, English Literature, Sociology, Philosophy, Psychology, Education, Religious Studies, Business, Biological Sciences, Communications and Media, Physical Sciences, Marketing and many others. In these fields, my specialties lie in crafting professional standard custom writings. These include, but are not limited to: research papers, coursework, assignments, term papers, capstone papers, reviews, summaries, critiques, proofreading and editing, and any other college essays.
My extensive custom writings experience has equipped me with a set of skills, research abilities and a broad knowledge base that allows me to navigate diverse paper requirements while keeping my promise of quality. Furthermore, I have also garnered excellent mastery of paper formatting, grammar, and other relevant elements. When a customer asks me to write their essay, I will do my best to provide the best essay writing service possible. I have satisfactorily offered my essay writing services for High School, Diploma, Bachelors, Masters and Ph.D. clients.
I believe quality, affordability, flexibility, and punctuality are the principal reasons as to why I have risen among the best writers on this platform. I deliver 100% original papers that pass all plagiarism check tests (Turnitin, Copyscape, etc.). My rates for all papers are relatively affordable to ensure my clients get quality essay writing services at reasonable prices.
4.50+
5+ Reviews
14+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
The balance in the supplies account, before adjustment at the end of the year, is $2,975. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $614.
-
The balance in the unearned fees account, before adjustment at the end of the year, is $316,290. Journalize the adjusting entry (include an explanation) required if the amount of unearned fees at the...
-
The balance in the prepaid insurance account, before adjustment at the end of the year, is $14,800. Journalize the adjusting entry required under each of the following alternatives for determining...
-
1. Is religious training mandatory at all of the schools in question? 2. Does the Court see inevitable church-state entanglements if the Board were allowed to exercise jurisdiction over teachers in...
-
Willis Company has the following year-end account balances on April 30, 2017: Service Revenue $53,800; Rent Revenue $12,000; Salaries Expense $19,400; Depreciation Expense $8,000; Supplies Expense...
-
The Stevens Division of Wertheim Industries manufactures component R25, which it transfers to Parker Division at 150% of variable cost. The variable cost of R25 is $ 18 per unit. Jim Laker, head of...
-
Ratio Analysis} Selected information from Bigg Company's financial statements follows. \section*{Required:} 1. Calculate the following ratios for 2017 and 2018: (a) gross profit margin, (b) operating...
-
Howard Weiss, Inc., is considering building a sensitive new airport scanning device. His managers believe that there is a probability of 0.4 that the ATR Co. will come out with a competitive product....
-
Maximizing Profits The weekly demand for DVDs manufactured by a certain media corporation is given by p = 0.0005x2 + 65 where p denotes the unit price in dollars and x denotes the quantity demanded....
-
Techno, a unit of Outdoor Corporation, manufactures a line of electric, cordless, lawn mowers. Senior management of Outdoor Corporation has noticed that Techno has been producing more lawn mowers...
-
At August 31, the end of the first month of operations, the usual adjusting entry transferring prepaid insurance expired to an expense account is omitted. Which items will be incorrectly stated,...
-
The prepaid insurance account had a balance of $4,800 at the beginning of the year. The account was debited for $15,000 for premiums on policies purchased during the year. Journalize the adjusting...
-
Jaime, the senior auditor on the audit of the Boston Brewery Co., a public company, is responsible for initial planning of the integrated audit. She is responsible for the supervision and review of...
-
Differentiae between awt package and swing package? What are the differences between Java and C++.
-
Golden Wedding Dress Company designs custom wedding dresses for brides to be. The person preparing the adjusting entries at year-end was unable to complete the adjustments due to illness. You have...
-
3. Find the average and effective values of the sinusoidal waveform shown in the following figure. The maximum value is 100 V.
-
A company produces and sells a single product. In 2020, they sold 20,000 units and reported the information below. Sales price per unit: $62 Variable cost per unit: $21 Total annual fixed cost:...
-
4. Derive that the average power consumed by a pure inductor is zero. OR A coil of resistance 1002 and inductance 0.02H is connected in series with another coil of resistance 62 and inductance 15mH...
-
In Exercises 1114, interpret the interaction plot by explaining whether there appear to be large interactions between the factors. Cell Mean A B Factor Level C
-
Reduction in sales All of the above 29. Belt of an electric motor is broken, it needs a. Corrective maintenance b. Scheduled maintenance c. Preventive maintenance d. Timely maintenance. 30. The...
-
Identify the key dates for a forward rate agreement and discuss their role in its trading mechanism.
-
A diesel-powered tractor with a cost of $145,000 and estimated residual value of $7,000 is expected to have a useful operating life of 75,000 hours. During July, the generator was operated 150 hours....
-
Prior to adjustment at the end of the year, the balance in Trucks is $250,900 and the balance in Accumulated Depreciation?Trucks is $88,200. Details of the subsidiary ledger are as follows: (a)...
-
A Kubota tractor acquired on January 9 at a cost of $75,000 has an estimated useful life of 20 years. Assuming that it will have no residual value, determine the depreciation for each of the first...
-
Delta Company produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 1 0 5 , 6 0 0 units per year is: \ table [ [ Direct...
-
Enabled: Final Exam ( Ch 8 , 1 1 , 1 3 , & 1 6 ) - Spring 2 0 2 4 \ table [ [ Beginning WIP inventory, ] , [ Direct materials,$ 2 2 , 0 5 3
-
Note Computations and Entries ( Straight Line ) On January 1 , 2 0 2 4 , Sisek Company borrowed $ 9 7 3 , 0 0 0 with a 1 0 - year, 9 . 7 5 % note, interest payable semiannually on June 3 0 and...
Study smarter with the SolutionInn App