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

Question

1 Approved Answer

A company paid insurance premium for Rs 1 2 , 0 0 0 for one year starting from 1 st August 2 0 1 8

A company paid insurance premium for Rs 12,000 for one year starting from 1st August 2018 to 31st July 2019. What will be the effect of this transaction on equity for the year ended 31st March 2019?

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_2

Step: 3

blur-text-image_3

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

Financial Accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

10th edition

978-1119298229, 1119298229, 978-1119305828, 1119305829, 978-1119305736

More Books

Students also viewed these Accounting questions

Question

★★★★★
The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2014, are listed below. Fees earned ...........$750,000 Office expense ......... 295,000 Miscellaneous expense...

Answered: 1 week ago

Question

★★★★★
The text suggests that marketers can expect to see growing demand for increasingly specialized holidays that combine unusual experiences and the potential for personal development. Do some research...

Answered: 1 week ago

Question

★★★★★
For the partial ANOV table for a simple linear regression model given in Figure 8.5, determine the values of the missing entries.

Answered: 1 week ago

Question

★★★★★
A business executive is offered a management job at Generous Electric Company, which offers him a 5-year contract that calls for a salary of $62,000 per year, plus 600 shares of GE stock at the end...

Answered: 1 week ago

Question

★★★★★
Deferral Adjustments: Supplies Deferral Adjustments: Supplies supplies uned up becomes supplies expense Samples pense Supplies 1,000 700 700 Adjusting Journal Entry Det Supplies Expense 700 Credit...

Answered: 1 week ago

Question

★★★★★
On January 1, 2021, Baddour, Inc., issued 10%, 12-year bonds with a face amount of $175 million. The bonds were priced at $153 million to yield 12%. Interest is paid semiannually on June 30 and...

Answered: 1 week ago

Question

★★★★★
For the beam and loading shown, use discontinuity functions to compute: (a) the deflection VA of the beam at A, and (b) the deflection Vmidspan of the beam at midspan (i.e., x = 2.7 m). Assume a...

Answered: 1 week ago

Question

★★★★★
Which of the following is NOT an external trend that affects the use of mobile marketing? Multiple Choice People use mobile devices multiple times a day. Smartphone and tablets are not as popular as...

Answered: 1 week ago

Question

★★★★★
On the way to work, Anjali reallzed her car was overheating, so she immedlately pulled into a service station to have the problem fixed. Anjali's buying process for the car repair was Influenced by...

Answered: 1 week ago

Question

★★★★★
Frank, a bank teller, is told by the head teller that rapid service is an absolute must from this point forward. However, the bank's community relation's director instructs all employees to focus...

Answered: 1 week ago

Question

★★★★★
The light right-angle boom which supports the 590-kg cylinder is supported by three cables and a ball-and-socket joint at O attached to the vertical x-y surface. Determine the reactions at O and the...

Answered: 1 week ago

Question

★★★★★
Need answer 8.9 369 When Laura Rapp arrived at her store on the morning of January 29, she found empty shelves y and display racks; thieves had broken in during the night and stolen the entire...

Answered: 1 week ago

Question

★★★★★
What should happen to the demand for speed (measured by the average speed on highways) once airbags are included on cars? pg96

Answered: 1 week ago

Question

★★★★★
The economist Bryan Caplan recently found a pair of $10 arch supports that saved him from the pain of major foot surgery. As he stated on his blog (econlog.econlib.org), he would have been willing to...

Answered: 1 week ago

Question

★★★★★
Nobel Prize winner Milton Friedman said that a bad central banker is like a fool in the shower. In a shower, of course, when you turn the faucet, water wont show up in the showerhead for a few...

Answered: 1 week ago

Previous Question Next Question