Insurance expense per month = $7,500 ÷ 12 = $625.
Total period from June to December 31 2019 = 7 months.
Total insurance expenses for the year ending December 31, 2019 = $625 × 7 = $4,375.
a 1-year insurance policy for $7,500 and paid the full premium in advance. The insurance On...
On June 1, 2019, a firm purchased a 1-year insurance policy for $7,500 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is $4,375. $5,000. $7,500. $2,500.
On June 1, 2019, a firm purchased a 1-year insurance policy for $5,700 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice $3,325. $1,900. $5,700. $3,800.
On June 1, 2019, a firm purchased a 1-year insurance policy for $8,700 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice $2,900. $5,075. $8,700. $5,800.
On June 1. 2019. a firm purchased a 1-year insurance policy for $6.900 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice O $2,300 $6.900 O $4.025 O $4,600
on August 1, 2019 a firm purchased a one-year insurance policy for $3600 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019 is ?
On August 1, 2019, a firm purchased a 1-year insurance policy for $5,700 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice $1,900. $5,700. $3,325. $2,375.
On August 1, 2019, a firm purchased a 1-year insurance policy for $6,900 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice $2,300 $4,025 $6,900 $2,875 On April 1, 2019, a firm accepted a 6-month, 10 percent note for $2,400 from a customer with an overdue balance. The accrued interest recorded for this note for the year ended June 30, 2019, is Multiple Choice $60...
12points Item 10 Item 10 12 points On August 1, 2019, a firm purchased a 1-year insurance policy for $5,400 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is Multiple Choice $5,400. $1,800. $3,150. $2,250.
On July 1, 20x8, Hathaway Ltd. purchased a 4 year insurance policy and paid a premium of $37570. Hathaway has a December 31 year end. Which of the following statements is true? of Select one: a. Under cash basis accounting, there will be a balance of $23481 in the Prepaid insurance account on December 31, 20x9 b. Under accrual accounting, there will be a balance of $32874 in the Prepaid insurance account on December 31, 20x8 c. Under cash basis...
The total premium for each policy was paid in full for all months) at the purchase date and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.) c. The company has 15 employees, who earn a total of $2,100 in salaries each working day. They are paid each Monday for their work In the five-day workweek ending on the previous Friday. Assume that December 31, 2019....