On May 1 of Year 1 M&M Enterprises paid $1,920 cash for an insurance policy that would provide protection for a one year term. The company’s fiscal closing date is December 31. Based on this information, the amount of prepaid insurance appearing on the Year 1 Balance Sheet would be $___________ |
RSPACE Co earns $13,249 of revenue on account and in $6,167 cash revenue transactions in Year 1. Cash collections of receivables amount to $5,849 in Year 1 with the remainder being collected in Year 2. Based on this information alone the company’s financial statements would show Total Revenue in Year 1 of $________________ |
During 2018, the following events occurred for DAn consultants
After recording all these transactions, Clouseau’s net income will be $
On May 1 of Year 1 M&M Enterprises paid $1,920 cash for an insurance policy that...
On May 1 of Year 1 Marks Enterprises paid $2,040 cash for an insurance policy that would provide protection for a one year term. The company’s fiscal closing date is December 31. Based on this information, the amount of insurance expense appearing on the Year 1 Income Statemement would be $___________
On October 1 of Year 1 M Enterprises paid $2,220 cash for an insurance policy that would provide protection for a one year term. The company’s fiscal closing date is December 31. Based on this information, the amount of insurance expense appearing on the Year 2 Income Statemement would be $___________
Question 1 During 2018, the following events occurred for Clouseau Consultants Clouseau provided $35,744 of consulting services to its clients but no cash has been collected. Clouseau collected $21,274 cash from customers in partial settlement of its accounts receivable. Clouseau paid the instructor $11,567 cash for teaching training courses (salary expense). Clouseau paid $3,650 for supplies. Half of the supplies were used in 2018. Clouseau paid $4,484 in dividends. After recording all these transactions, Clouseau’s total change in stockholders' equity...
1) During 2018, the following events occurred for Parker Company Parker receives $39,600 cash in advance from Westberry Company for consulting services to be performed over a one-year period beginning April 1, 2018. Provided $52,400 of consulting services on account. Collected $14,700 cash from customers in partial settlement of its accounts receivable. Parker recognizes the portion of the unearned revenue it earned during the accounting period. After recording all these transactions, Parker’s total revenue will be $______ 2) During 2018,...
On August 1 of Year 1 Presco Enterprises paid $1,200 cash for an insurance policy that would provide protection for a one year term. The company's fiscal closing date is December 31. Based on this information, the amount of Insurance expense appearing on the Year 1 income statement would be
Question 1 O out of 1.5 points On March 1 of Year 1 Wobber Enterprises paid $3,420 cash for an insurance policy that would provide protection for a one year term. The company's fiscal closing date is December 31, Bapod on this information, the amount of Prepaid Insurance appearing on the December 31 Year 1 Balance Sheet would be $ Question 2 1.5 out of 1.5 points Grey Company sold inventory that cost $3,240 for $7,031 cash. Freight cost was...
1. Record the entry for insurance expense if, on July 1, 2018, a
two-year insurance premium on equipment in the amount of $504 was
paid and debited in full to Prepaid Insurance on that date.
Coverage began on July 1.
2. Record the entry for supplies expense if, at the end of 2018,
the unadjusted balance in the Supplies account was $1,000. A
physical count of supplies on December 31, 2018, indicated supplies
costing $260 were still on hand.
3....
Myah Co earns $26,684 of revenue on account and in $6,874 cash revenue transactions in Year 1. Cash collections of receivables amount to $8,453 in Year 1 with the remainder being collected in Year 2. Based on this info alone the company’s financial statements would show Accounts Receivable at the end of Year 1 $_
National Insurance Company collected a premium of $15,000 for a 1-year insurance policy on May 1. What amount should National Insurance Company report as a current liability for Unearned Insurance Revenue at December 31? Select one: a. $5,000. O b. $0. O c. $15,000. O d. $10,000
National Insurance Company collected a premium of $15,000 for a 1-year insurance policy on May 1. What amount should National Insurance Company report as a current liability for Unearned Insurance Revenue at December 31? Select one: a. $5,000. O b. $0. O c. $15,000. O d. $10,000