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

Question

1 Approved Answer

A company bought a 6 month insurance policy on September 19, 2019 for $12,000. At that time, they debited Insurance Expense. What would be the

image text in transcribed
A company bought a 6 month insurance policy on September 19, 2019 for $12,000. At that time, they debited Insurance Expense. What would be the entry if they discovered this error on December 31st, 2019. Assume no adjusting journal entries were done from September until December A B IF III Account Debit Credit

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

Financial Accounting For MBAs

Financial Accounting For MBAs

Authors: Peter Easton, Robert Halsey, Mary Lea McAnally, John Wild

8th Edition

1618533584, 9781618533586

More Books

Students also viewed these Accounting questions

Question

★★★★★
Attendance at Los Angeless newest Disney like attraction, Vacation world, has been as follows: Compute seasonal indices using all of thedata. Guests Quarter (in thousands) Winter 07 Spring '07 Summer...

Answered: 1 week ago

Question

★★★★★
We removed humans from the scatterplot in Exercise 39 because our species was an outlier in life expectancy. The resulting scatterplot (below) shows two points that now may be of concern. The point...

Answered: 1 week ago

Question

★★★★★
describe several successful positive work interventions.

Answered: 1 week ago

Question

★★★★★
Lucy Loiselle and Abby Ready formed a partnership on March 15. The partners agreed to invest equal amounts of capital. Loiselle invests her proprietorships assets and liabilities (credit balances in...

Answered: 1 week ago

Question

★★★★★
Swisser Vase Company manufactures and sells vases Great Products Company has offered Sisser Vase 516 per vase for 5.000 vases Swiss Vase's normal saling price is $38 pe vase The obcing cod perase 518...

Answered: 1 week ago

Question

★★★★★
The database structure itself is stored as a _ _ ?

Answered: 1 week ago

Question

★★★★★
To keep its customers happy, protect its financial performance, and protect its competitive advantage, a company must continually evaluate all the business processes in its value chain. Improving the...

Answered: 1 week ago

Question

★★★★★
15. MC.02.93 The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable $1,500 Fees earned $8,600 Accounts receivable 1,800 Insurance...

Answered: 1 week ago

Question

★★★★★
7. During the Spring Festival at the university, the bumper car stand has a problem with cars breaking down and needing repair. Mechanics can be hired to do this at a salary of $20 per hour, but they...

Answered: 1 week ago

Question

★★★★★
Gains From Trade Overall Score: 88% Inventory PPF y Level 3: Implementing Trade and Exploring the Gains from Trade You decide to throw a feast for you and Friday. This will require 5000 calories of...

Answered: 1 week ago

Question

★★★★★
What is the total net cash flow over 4 years for the trucking venture? Trucking Venture Specifics Initial investment Cost of the truck Working capital deposit Operations (per year for 4 years)...

Answered: 1 week ago

Question

★★★★★
c. On the basis of these two continua, determine Oprah Winfreys communication style. d. In your opinion, does Oprah Winfrey display style flexibility?

Answered: 1 week ago

Question

★★★★★
b. On the sociability continuum, place a mark where you feel she belongs.

Answered: 1 week ago

Question

★★★★★
1. Oprah Winfrey is one of Americas most popular talk-show hosts. Consider the behaviors she displays on her show, and then complete the following exercises:

Answered: 1 week ago

Previous Question Next Question