Homework Answers
Correct answer-----------$92,400
Working
| Beginning year balance for prepaid insurance | $ 48,400.00 |
| Add: Cash paid for insurance during the year | $ 86,000.00 |
| Total Prepaid insurance | $ 134,400.00 |
| Less: Ending balance in prepaid insurance | $ 42,000.00 |
| Insurance expense recorded during the year | $ 92,400.00 |
Add Answer to:
At the beginning of the year, a company had a balance in its prepaid insurance account...
On December 31, 2020, Right Angle Manufacturer Co. had a balance in its prepaid Insurance account...
On December 31, 2020, Right Angle Manufacturer Co. had a balance in its prepaid Insurance account оf $57,400. During 2021, $95,000 was paid for Insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid Insurance account was $46,500. Insurance expense for 2021 was: Multiple Choice o $10,900. o $95,000. o $105,900. o $152 400.
Adjustment for Prepaid Expense The prepaid Insurance account had a beginning balance of $11,500 and was...
Adjustment for Prepaid Expense The prepaid Insurance account had a beginning balance of $11,500 and was debited for $18,000 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $13,000. If an amour box does not require an entry, leave it blank. Insurance Expense
Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $5,860 and was...
Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $5,860 and was debited for $3,050 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $2,320. If an amount box does not require an entry, leave it blank.
The prepaid insurance account had a balance of $3,000 at the beginning of the year. The...
The prepaid insurance account had a balance of $3,000 at the beginning of the year. The account was debited for $32,500 for premiums on policies purchased during the year. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of unexpired insurance applicable to future periods is $4,800. If an amount box does not require an entry, leave it blank. Insurance Expense Prepaid Insurance ✓ b. The amount of...
The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for...
The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for premiums paid during the year. Required: Joumalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods Refer to the Chart of Accounts for exact wording of account titles.
The prepaid insurance account had a beginning balance of $4,030 and was debited for $2,180 of...
The prepaid insurance account had a beginning balance of $4,030 and was debited for $2,180 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $2,550. If an amount box does not require an entry, leave it blank.
The Office Supplies account had a $480 debit balance at the beginning of the year. During...
The Office Supplies account had a $480 debit balance at the beginning of the year. During the year, $4,885 of office supplies are purchased. A physical count of supplies at December 31 shows $539 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $3,000 of unexpired insurance benefits remain at December 31. The company has earned (but not recorded) $600 of interest revenue for the...
The prepaid insurance account had a beginning balance of $11,500 and was debited for $18,000 of premiums paid during the year.
The prepaid insurance account had a beginning balance of $11,500 and was debited for $18,000 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $13,000. Refer to the Chart of Accounts for exact wording of account titles.Journal Journalize the adjusting entry required at the end of the year (December 31), assuming the amount of unexpired insurance related to future periods is $13,000....
The prepaid insurance account had a balance of $7.000 at the beginning of the year. The...
The prepaid insurance account had a balance of $7.000 at the beginning of the year. The account was debited for $24,000 for premiums on policies purchased during the year ending on March 31 Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of unexpired insurance applicable to future periods is $8,500, (b) the amount of insurance expired during the year is $22.500 Refer to the Chart of Accounts...
The Supplies account had a balance at the beginning of year 3 of $7700 (before the...
The Supplies account had a balance at the beginning of year 3 of $7700 (before the reversing entry). Payments for purchases of supplies during year 3 amounted to $46200 and were recorded as expense. A physical count at the end of year 3 revealed supplies costing $14000 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to:
On December 31, 2020, Right Angle Manufacturer Co. had a balance in its prepaid Insurance account оf $57,400. During 2021, $95,000 was paid for Insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid Insurance account was $46,500. Insurance expense for 2021 was: Multiple Choice o $10,900. o $95,000. o $105,900. o $152 400.
Adjustment for Prepaid Expense The prepaid Insurance account had a beginning balance of $11,500 and was debited for $18,000 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $13,000. If an amour box does not require an entry, leave it blank. Insurance Expense
Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $5,860 and was debited for $3,050 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $2,320. If an amount box does not require an entry, leave it blank.
The prepaid insurance account had a balance of $3,000 at the beginning of the year. The account was debited for $32,500 for premiums on policies purchased during the year. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of unexpired insurance applicable to future periods is $4,800. If an amount box does not require an entry, leave it blank. Insurance Expense Prepaid Insurance ✓ b. The amount of...
The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for premiums paid during the year. Required: Joumalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods Refer to the Chart of Accounts for exact wording of account titles.
The prepaid insurance account had a balance of $7.000 at the beginning of the year. The account was debited for $24,000 for premiums on policies purchased during the year ending on March 31 Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of unexpired insurance applicable to future periods is $8,500, (b) the amount of insurance expired during the year is $22.500 Refer to the Chart of Accounts...
Most questions answered within 3 hours.
-
find H(e^Jtheta) at theta= 0, pi/10, pi/20, pi/2 for
the following:
a) H(e^Jtheta)= 1+e^Jtheta
b) H(e^Jtheta)=...
asked 4 minutes ago -
Home Corporation will open a new store on January 1. Based on
experience from its other...
asked 21 minutes ago -
In a neoclassical model, use the IS-LM to analyze the effect of
a permanent money supply...
asked 55 minutes ago -
An electron passes through a point 2.67 cm from a long straight
wire as it moves...
asked 1 hour ago -
A grammar is a 4-tuple G, G = (Ν, Σ, Π, Σ, S) where, Ν is...
asked 2 hours ago -
In this part, calculate the present values. Use the Excel PV
function to compute the present...
asked 2 hours ago -
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 3 hours ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 3 hours ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 3 hours ago -
A sample of size 31 will be drawn from a population with mean 39
and standard...
asked 4 hours ago -
What is the effect on the P-value when a test is changed from a
two-tailed hypothesis...
asked 4 hours ago -
I wish to estimate µ, the mean of a population. After I collect
and an-
alyze...
asked 4 hours ago