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

Question

1 Approved Answer

On December 31, 2020, Coolwear, Inc. had a balance in its prepaid insurance account of $63,400, During 2021, $101000 was paid for Insurance. At the

image text in transcribed
On December 31, 2020, Coolwear, Inc. had a balance in its prepaid insurance account of $63,400, During 2021, $101000 was paid for Insurance. At the end of 2021, after adjusting entries were recorded the balance in the prepaid insurance account was $49,500. Insurance expense for 2021 was: Multiple Choice $164.400 $13,900 $101.000 $114,900

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

Principles Of Accounting 2

Principles Of Accounting 2

Authors: OpenStax

1st Edition

0357366808, 9780357366806

More Books

Students also viewed these Accounting questions

Question

★★★★★
A random sample of n = 347 students was selected, and each one was asked to complete several questionnaires, from which a Coping Humor Scale value x and a Depression Scale value y were determined...

Answered: 1 week ago

Question

★★★★★
An Australian motorcycle courier delivery service DeliverSafe introduced a wellbeing strategy for its Sydneybased employees. The strategy comprised a series of wellbeing initiatives including: 1...

Answered: 1 week ago

Question

★★★★★
What is the coefficient of determination and how is it computed?

Answered: 1 week ago

Question

★★★★★
Canton Trade Mart has recently had lackluster sales. The rate of inventory turnover has dropped, and the merchandise is gathering dust. At the same time, competition has forced Cantons suppliers to...

Answered: 1 week ago

Question

★★★★★
Cul de los errores/sesgos sociales del libro te afecta ms? Cmo se puede superar este error/sesgo social?

Answered: 1 week ago

Question

★★★★★
In 100 words, respond to: I think that after evaluating each organization and its descriptions I can say that I might be able to work in any of them. From experience I have been able to work in both...

Answered: 1 week ago

Question

★★★★★
Financial Accounting: 2.1.5 Journal Entries and the Equation Suppose on January 1, 2014 Cardullo's purchases a new cash register for the shop and pays $800. ACCOUNTS CASH INVENTORY REVENUE ACCOUNTS...

Answered: 1 week ago

Question

★★★★★
The number of tubes of toothpaste purchased by a typical family is a random variable having a Poisson distribution with an average of 1.8 tubes per month. i. What is the probability that a typical...

Answered: 1 week ago

Question

★★★★★
A mix of three materials into a process produces 0.9 litres of a finished product, with 10% loss of input in the process. Standard material costs are as follows per 0.9 litres of output. Material $ X...

Answered: 1 week ago

Question

★★★★★
Complete Cogburn's December 31, Year 4, balance sheet using the information below. Each of the items may be reported as either a current or noncurrent liability. Enter the appropriate amounts in the...

Answered: 1 week ago

Question

★★★★★
1. Scroll Inc., a wholly-owned subsidiary of Pirn, Inc. began operations on January 1, 2019. The following information is from the condensed 2019 income statements of Pirn and Scroll: Pirn Scroll...

Answered: 1 week ago

Question

★★★★★
What is the average age of members of your key public?

Answered: 1 week ago

Question

★★★★★
How likely is this public to act on information it receives?

Answered: 1 week ago

Question

★★★★★
What does this public think about your organization?

Answered: 1 week ago

Previous Question Next Question