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Which of the following is the proper adjusting entry, based on a prepaid insurance account belance...
What is the proper adjusting entry at June 30, the end of the fiscal year, based...
What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18540, and unexpired amounts per analysis of policies of $6000? Debit Prepaid Insurance, $12540; Credit Insurance Expense, $12540. Debit Insurance Expense, $12540; Credit Prepaid Insurance, $12540. Debit Insurance Expense, $18540; Credit Prepaid Insurance, $18540. Debit Insurance Expense, $6000; Credit Prepaid Insurance, $6000. Save for Later Attempts: 0 of 1 used Submit Answer wid ind
please show work 5. What is the proper adjusting entry at June 30, the end of...
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5. What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18,500, and unexpired amounts per analysis of policies of $6,000? a. Debit Insurance Expense, $6,000; Credit Prepaid Insurance, $6,000. b. Debit Insurance Expense, $18,500; Credit Prepaid Insurance. $18.500. C. Debit Prepaid Insurance, $12,500; Credit Insurance Expense, $12,500. d. Debit Insurance Expense, $12,500; Credit Prepaid Insurance, $12,500 6. NWA Air Charter signed a...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $20,150. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of insurance expired during the year is $15,310. b. The amount of unexpired insurance applicable to future periods is $4,840.
EX 3-6 Adjusting entries for prepaid insurance The balance in the prepaid insurance account, before adjustment at t...
EX 3-6 Adjusting entries for prepaid insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $14,800. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of insurance expired during the year is $11,200; (b) the amount of unexpired insurance applicable to future periods is $3,600
What is the proper adjusting entry at December 31, the end of the accounting period, if...
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $8,750 before adjustment, and the unexpired amount per analysis of policies is, $3.750? Multiple Choice Debit Insurance Expense, $3,750, credit Prepaid Insurance, $3,750. O Debit Prepaid Insurance, $5,000; credit Insurance Expense. $5,000 O Debit Insurance Expense, $5,000; credit Prepaid Insurance, $5,000. Debit Insurance Expense, $8,750; credit Prepaid Insurance, $8,750. O Debit Cash $8,750 Credit Prepaid Insurance,...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, Is $16,400 uired under each of the following alternatives for determining the amount of the adjustment a. The amount of insurance expired during the year is $12,460. b. The amount of unexpired insurance applicable to future periods is $3,940
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...
What is the proper adjusting entry at December 31, the end of the accounting period, if...
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $7750 before adjustment and the unexpired amount per analysis of policies is $3.250?
+ Update Apple ID Settings Some countries will not be View x CengageNoW2 Online teacl x...
+ Update Apple ID Settings Some countries will not be View x CengageNoW2 Online teacl x Q Chapter 3 Practice Flashcards x angenow.com/m akeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator Sinprogressefalse ocumen G oogle Image Res Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $10,000 and unexpired insurance of 53.000, the fiscal year ending on April 302 Ca debit Insurance Expense, 53,000; credit Prepaid Insurance, $3,000 C. debit Insurance Expense, 114,000 credit Prepaid Insurance,...
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
What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18540, and unexpired amounts per analysis of policies of $6000? Debit Prepaid Insurance, $12540; Credit Insurance Expense, $12540. Debit Insurance Expense, $12540; Credit Prepaid Insurance, $12540. Debit Insurance Expense, $18540; Credit Prepaid Insurance, $18540. Debit Insurance Expense, $6000; Credit Prepaid Insurance, $6000. Save for Later Attempts: 0 of 1 used Submit Answer wid ind
please show work
5. What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18,500, and unexpired amounts per analysis of policies of $6,000? a. Debit Insurance Expense, $6,000; Credit Prepaid Insurance, $6,000. b. Debit Insurance Expense, $18,500; Credit Prepaid Insurance. $18.500. C. Debit Prepaid Insurance, $12,500; Credit Insurance Expense, $12,500. d. Debit Insurance Expense, $12,500; Credit Prepaid Insurance, $12,500 6. NWA Air Charter signed a...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $20,150. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of insurance expired during the year is $15,310. b. The amount of unexpired insurance applicable to future periods is $4,840.
EX 3-6 Adjusting entries for prepaid insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $14,800. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of insurance expired during the year is $11,200; (b) the amount of unexpired insurance applicable to future periods is $3,600
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $8,750 before adjustment, and the unexpired amount per analysis of policies is, $3.750? Multiple Choice Debit Insurance Expense, $3,750, credit Prepaid Insurance, $3,750. O Debit Prepaid Insurance, $5,000; credit Insurance Expense. $5,000 O Debit Insurance Expense, $5,000; credit Prepaid Insurance, $5,000. Debit Insurance Expense, $8,750; credit Prepaid Insurance, $8,750. O Debit Cash $8,750 Credit Prepaid Insurance,...
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, Is $16,400 uired under each of the following alternatives for determining the amount of the adjustment a. The amount of insurance expired during the year is $12,460. b. The amount of unexpired insurance applicable to future periods is $3,940
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...
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $7750 before adjustment and the unexpired amount per analysis of policies is $3.250?
+ Update Apple ID Settings Some countries will not be View x CengageNoW2 Online teacl x Q Chapter 3 Practice Flashcards x angenow.com/m akeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator Sinprogressefalse ocumen G oogle Image Res Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $10,000 and unexpired insurance of 53.000, the fiscal year ending on April 302 Ca debit Insurance Expense, 53,000; credit Prepaid Insurance, $3,000 C. debit Insurance Expense, 114,000 credit Prepaid Insurance,...
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
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