Question 31 DEPRECIATION: Company Y has equipment with a useful life of 5 years. What is the double declining balance rate for the equipment? a. 1/10 b. 1/5 C. 2x(1/10) d. 2x(1/5) e. None of the above Question 32 JOURNAL ENTRIES: The expired insurance for November for Louis Ruiz Consulting Services is $200. What is the adjusting entry to record the $200 of expired insurance? a. Dr. Prepaid Insurance 200; Cr. Cash 200 b. Dr. Insurance Expense 200; Cr. Prepaid Insurance 200 c. Dr. Expired Insurance 200; Cr. Cash 200 d. Dr. Cash 200; Cr. Expired Insurance 200 e. None of the above