On July 1m 2017, Ling Co. pays $12,400 to Marsh Insurance Co., for a 2-year insurance contract. Both companies have fiscal years ending December 31.
For Ling Col journalize the entry on July 1 and adjusting entry on December 31,
Date Account Title and Explanation Debit Credit
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On July 1m 2017, Ling Co. pays $12,400 to Marsh Insurance Co., for a 2-year insurance contract. Both companies have fiscal years ending ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What's the best definition of financial literacy? A. The ability to find, evaluate, utilize, share, and create financial content B. The efficient and effective management of money C.
Answers (1)
Several stores in the mall sell hooded sweatshirts. each store's sweatshirts reflect the style of that particular store. additionally, some makers use higher-quality cotton than others, which is reflected in the apparel's prices.
Answers (1)
Which part of a check provides a place for you to write the purpose of the check?
Answers (1)
Which of the following is true of a dividend payout? A. When a stock begins to trade ex dividend the share price will fall. B. When a firm announces that it will increase its dividend, the share price usually decreases on that news. C.
Answers (1)
Both Curtis Flooring and Keller Roofing have estimated their uncollectible accounts at 12/31/22 to be $14,000. In addition, both companies use the allowance method for uncollectible accounts.
Answers (1)
New Questions in Business
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,000 will be accepted.
Answers (1)
Zappos, the online shoe and clothing marketer, promises free shipping and free returns on any of its products, no questions asked. This is an example of how Zappos has a strong competitive advantage through
Answers (1)
Based on the corporate valuation model, the total corporate value of chen lin inc. is $900 million. its balance sheet shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained
Answers (1)
Larry's lizards and ronaldo's reptiles are competing pet store franchises. both are considering opening a store in the small town of turtleville.
Answers (1)
How does the government of a republic typically shape its economy? A. The government allows citizens to own private businesses. B. The government blocks the ownership of personal property. C. The government owns all homes and other forms of housing.
Answers (1)