FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Prepaid Insurance has an ending balance of P23,000. During the period, insurance in the amount of P12,000 expired. The adjusting entry would contain a

image text in transcribed
image text in transcribed
2. Prepaid Insurance has an ending balance of P23,000. During the period, insurance in the amount of P12,000 expired. The adjusting entry would contain a debit to a. Prepaid insurance for P12,000 c. Prepaid insurance for P11,000 b. Insurance expense for P12,000 d. Insurance expense for P11,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Integrated Accounting

Integrated Accounting

Authors: Dale A. Klooster, Warren Allen, Glenn Owen

8th edition

1285462726, 1285462721, 978-1285462721

More Books

Students also viewed these Accounting questions

Question

★★★★★
If x > 0 and a > 1, then In x / In a = In x/a.

Answered: 1 week ago

Question

★★★★★
How fair is Fairtrade?

Answered: 1 week ago

Question

★★★★★
=+a) The Mohs scale rates the hardness of minerals. If one mineral can scratch another, it is judged to be harder. (Diamond, the hardest mineral, is a 10.) Is hardness related to the weight of a 1 *...

Answered: 1 week ago

Question

★★★★★
The following data were summarized from the accounting records for DeSalvo Construction Company for the year ended June 30, 2010: Prepare divisional income statements for DeSalvo Construction...

Answered: 1 week ago

Question

★★★★★
The spot exchange rate is 111.55/$, the 180-day forward exchange rate is 107.83/$, the 180-day dollar interest rate is 1.2% per year, and the 180-day yen interest rate is 0.7% per year. How much...

Answered: 1 week ago

Question

★★★★★
1 3-18 Target prices. target costs. activity-based costing. Snappy Tiles is a small distributor ot marble tiles. Snappy identies its three major activities and cost pools as ordering, receiving and...

Answered: 1 week ago

Question

★★★★★
Cupola Fan Corporation issued 12%, $580,000, 10-year bonds for $552,000 on June 30, 2024. Debt issue costs were $3,300. Interest is paid semiannually on December 31 and June 30. One year from the...

Answered: 1 week ago

Question

★★★★★
5 points Save Answer A. A useful tool used by marketers to help generate growth opportunities is the Ansoff Strategic Opportunity Matrix. Referring to the Matrix, identify and explain the growth...

Answered: 1 week ago

Question

★★★★★
Relating to the new Apple Glasses please answer the following questions with full answers: 1- Describe possible ethical issues Apple may encounter when Apple promotes this product. 2- You will soon...

Answered: 1 week ago

Question

★★★★★
Answer the following questions. You should make references to your resume and the job posting you have used in your Resume/Cover Letter assignment. Hint: Share an example using the STAR Method...

Answered: 1 week ago

Question

★★★★★
Equipment Purchasing Equipment purchasing can be a long and drawn out process. Most large pieces of equipment such as dishmachines or combi ovens must be planned for 5 to 10 years in advance of...

Answered: 1 week ago

Question

★★★★★
for more understanding clear steps Find T, N and B for the curve T (t) = (2 cos(3t), 2 sin(3t), 2t) at the point t = 0 Give your answers to two decimal places T(0) = N (0 ) = B(0) =

Answered: 1 week ago

Question

★★★★★
4. Achieve our positive goals (1 and 3 are motivated by avoiding the negative, while 2 and 4 are motivated by the positive). b. Initiative: When I communicate with others, I think it is very...

Answered: 1 week ago

Question

★★★★★
18. In the statements below, put a cross for the statement you feel characterizes yourself best when you communicate with others. Its not necessarily the way you know you should communicate, but the...

Answered: 1 week ago

Question

★★★★★
10. What activities in your life best express the value you want others to associate with you?

Answered: 1 week ago

Previous Question Next Question