On April 1, 2014, the premium on a one-year insurance policy on equipment was paid amounting to $1,800. At the end of 2014 (end of the accounting period), the financial statements for 2014, would report A) Insurance expense, $1,350; Prepaid insurance $450. B) Insurance expense, $1,800; Prepaid insurance $0. C) Insurance expense, $0; Prepaid insurance $1,800. D) Insurance expense, $450; Prepaid insurance $1,350.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On April 1, 2014, the premium on a one-year insurance policy on equipment was paid amounting to $1,800. At the end of 2014 (end of the ...” 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 does a firm's supply schedule show? a. elasticity of demandb. how price changes affect demand for a particular consumerc. how price changes affect supply for a marketd. the impact of the substitute effect
Answers (1)
If the demand for a good decreased, what would be the effect on the equilibrium price and quantity? Group of answer choices Price would increase, and quantity would decrease. Price would increase, and quantity would increase.
Answers (1)
For the employees who left the company before 3 years, what is an appropriate test of hypothesis to determine if the mean tenure of such employees equals 18 months in the population?
Answers (1)
On January 1, 2021 Exibit Company purchased land costing $800.000. Instead of paying cash at the time of purchase. Jalen plans to make four installment payments of $215,221.64 on June 30 and December 31 in 2021 and 2022.
Answers (1)
The Super Ball lottery was won by Joan; her winnings were $500,000.00 to be paid in quarterly payments of $12,500.00 each over the next 10 years.
Answers (2)
New Questions in Business
Shot-term financial goals include saving for
Answers (1)
The current sections of Sandhill Co.'s balance sheets at December 31, 2021 and 2022, are presented here. Sandhill Co's net income for 2022 was $137,700. Depreciation expense was $24,300.
Answers (1)
Vincent Corporation has 92,000 share of $105 par common stock outstanding. On June 30, Vincent Corporation declared a 3% stock dividend to be issued July 30 to stockholders of record July 15. The market price of the stock was $118 a share on June 30.
Answers (1)
In the circular flow model of the market system, households' major role is to Multiple Choice buy both products and resources. sell both products and resources. buy products and sell resources. sell products and buy resources.
Answers (1)
Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2016. January 1 balances in accounts receivable and accounts payable were $29,000 and $26,000, respectively.
Answers (1)