Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 21, 2024

Mohammed Inc. prepaid $4,800 on November 1, 2014 for a one-year - 12 months-insurance premium. On December 31, 2014 (after December 31 adjustments), The insurance

Mohammed Inc. prepaid $4,800 on November 1, 2014 for a one-year - 12 months-insurance premium. On December 31, 2014 (after December 31 adjustments), The insurance expense in the income statement for year ending 31/12/2014 is ?

Select one:

a. $800

b. $4,800

c. $4,000

d. $3,600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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 Tools For Business Decision Making

Authors: Paul D. Kimmel

4th Canadian Edition

0470155353, 978-0470155356

More Books

Students also viewed these Accounting questions

Question

★★★★★

Outline a paper with a detail discussion on "TEAM BUILDING & COMMUNICATION" by the following manner: a. Definition: Give a brief definition of the "TEAM BUILDING & COMMUNICATION" b. Summary: Give a...

Answered: 1 week ago

Question

★★★★★

Classify each of following items as a contingent liability, a provision or neither. An unresolved lawsuit against the entity for copyright infringement. Allowance for doubtful debts. An arrangement...

Answered: 1 week ago

Question

★★★★★

=+a row lie on the same side of the mean. What is the probability that this would happen based on random chance variation alone? What assumptions do you have to make to answer this?

Answered: 1 week ago

Question

★★★★★

Using the information for Vision, Inc., in SE4, SE5, and SE9, compute the price/earnings (P/E) ratio and dividend yield for 2013 and 2014. The company had 10,000 shares of common stock outstanding in...

Answered: 1 week ago

Question

★★★★★

Discussion of the ethical considerations for banks, regulators and customers 20 Discuss ethical consideration for banks, regualtors and customers in the uk during the Covid19 pandameic. 400 words

Answered: 1 week ago

Question

★★★★★

Complete the following tasks using the templates provided in FNSACC421_AT2_TMP_v1 and the information and data provided in Appendix A for Golden Steer, including their procedural guidelines. Enter...

Answered: 1 week ago

Question

★★★★★

Identify the cost-benefit analysis method that involves determining the dollar value of training on the basis of different factors such as estimates of the difference in job performance between...

Answered: 1 week ago

Question

★★★★★

What was the positive value of Max Weber's model of "bureaucracy?"

Answered: 1 week ago

Question

★★★★★

NHIKNHAK Enterprises has determined the cost of manufacturing a unit of product as follows, based on normal production of 60,0000 units per year: Direct materials Direct labor Variable factory...

Answered: 1 week ago

Question

★★★★★

Sales Revenue $ 1 0 0 0 0 0 , Variable Costs $ 6 0 0 0 0 , Fixed Costs $ 2 0 0 0 0 . What is the

Answered: 1 week ago

Question

★★★★★

According to Wheeler (Axiom 7): "Every data set contains noise. Some data sets also contain signals. Before you can detect the signals within your data, you must filter out the noise". Explain the...

Answered: 1 week ago

Question

★★★★★

Lavazza distributes ground coffee in three supply chain channels (i = 1, 2 and 3). For each channel the demand-price relationship (in boxes) is linearly defined by the constants A1, A2 and A3 and...

Answered: 1 week ago

Question

★★★★★

4.38 In a Godiva shop, 40% of the cookies are plain truffles, 20% are black truffles, 10% are cherry cookies, and 30% are a mix of all the others. Suppose you pick one at random from a prepacked bag...

Answered: 1 week ago

Question

★★★★★

4.37 A public interest group hires students to solicit donations by telephone. After a brief training period students make calls to potential donors and are paid on a commission basis. Experience...

Answered: 1 week ago

Question

★★★★★

4.36 A state senator believes that 25% of all senators on the Finance Committee will strongly support the tax proposal she wishes to advance. Suppose that this belief is correct and that 5 senators...

Answered: 1 week ago

Previous Question Next Question