On January​ 1, 2018, the Prepaid Insurance account of​ Dogwood, Inc. had a beginning balance of $ 1,800. Three months of insurance premiums remain in this beginning balance. On February​ 21, 2018, the company paid an annual insurance premium in the amount of $ 4,100 for the period beginning March 1. On February​ 28, 2018, the balance in Prepaid Insurance is $ 1,200.A. TrueB. False

Answers

Answer 1

Answer:

B. False

Explanation:

Beginning balance

-Period of policy= expired 2 months

-Period of unexpired insurance = 1 month (Out of 3 month, Insurance premium for period "Jan 1 to Feb 28" is expired)

Amount in prepaid insurance insurance= $1800 * 1/3 = $600

Current balance

Period = "0" since period of coverage will start from 1 march

Period of unexpired insurance = 12

Amount in prepaid insurance = 4,100

Thus, Total amount in prepaid insurance for the beginning and Current period= $600 + $4,100 = $4,700

The amount in prepaid insurance is $4700, hence the balance as stipulated as Prepaid Insurance = $ 1,200 is false


Related Questions

describe the role of the public sector​

Answers

Answer:

The public sector includes all sorts of government (central, state, and local). It provides basic goods or services that are either not, or cannot be, provided by the private sector, for example, schools, roads, etc.

Explanation:

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A company’s year end unadjusted trial balance shows account receivable of 103,000 allowance for doubtful accounts of $640(credit) and sales of $320000. Uncollectibles are estimated to be 1.50% of accounts receivable.
Prepare the December 31 year end adjusting entry for uncollectible
What amount would have been used in the year end adjusting entry if the allowance account had a year end unadjusted debit balance of 500?

Answers

$905 is the amount of the journal entry.

year-end adjusting entry will have the amount of $2045

What is a trial balance?

Business uses a trial balance, which is a summary of credit and debit values, to internally evaluate their dual bookkeeping.

The journal entry will be written as

Bad best account debited by 905

Allowance for doubtful debts will be also credited by 905.

The amount is calculated as

= 103000 * 1.50% - 640

= 4905

The amount which will be used at the end to create an adjusted account balance will be with respect to the 2045 amount. The journal entry will be

Bad debt expenses account debited to 2045

to the allowance for doubtful debt credited to 2045

The amount is calculated as

= 103000 * 1.505 + 500

= 2045

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Warner Company's year-end unadjusted trial balance shows accounts receivable of $103,000, allowance for doubtful accounts of $640 (credit), and sales of $320,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles View transaction list Journal entry worksheet Record the estimate of uncollectibles. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $500? Amount used in the year and adjusting entry

Warner Company's year-end unadjusted trial balance shows accounts receivable of $103,000, allowance for doubtful accounts of $640 (credit), and sales of $320,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles View transaction list Journal entry worksheet Record the estimate of uncollectibles. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $500? Amount used in the year and adjusting entry

Question 10 of 10
What government database would you search to discover if the business
name you select is available?
OA. U.S. Businesses Name Directory
OB. National Bureau of Trademarks
OC. U.S. Patent and Trademarks
OD. Federal Small Business Administration

Answers

The government database that one would search to discover if the business name one select is available would be option C. U.S. Patent and Trademark Office (USPTO).

What is the function of USPTO?

The USPTO ensures a database of registered trademarks and pending trademark applications. You can search this database to see if your desired business name is already registered as a trademark.

One should also note that registering a business name and registering a trademark are two separate processes, but they can overlap. It's key to ensure that one's desired business name does not infringe on any existing trademarks to avoid legal issues in the future.

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On September 1, Best Company began a contract to provide services to Dildwood Company for six months, with the total $10,800 payment to be made at the end of the six-month period. Equal services are provided each month. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. What proper adjusting entry would Best Company make on October 31, the end of the accounting period (no previous adjustment has been made)

Answers

Answer and Explanation:

The journal entry is shown below;

Fees receivable $7,200 ($10,800 × 4 months ÷ 6 months)

           To Service fees earned $7,200

(being service fees earned is recorded)

Here the fees receivable is debited as it increased the assets and credited the service fees earned as it also increased the revenue

So, this journal entry should be recorded

100pts if you help me ..and brainleast
please correct me if im wrong

Answers

You are wrong. 100 points will not be given . 5 points will be given .

Average stock of raw material and raw material consumption per annum are Rs.1,24,000 and Rs.8,42,000 respectively. Consider 365days. Calculate raw material consumption period.

Answers

Answer: 54 days

Explanation:

Raw Material consumption period = Average stock of Raw Material / Average stock of Raw material Consumption per day

Average stock of Raw material Consumption per day = Raw Material consumption per Annum / 365

= 842,000/365

= Rs. 2,306.85

Raw material consumption period

= 124,000/2,306.85

= 53.75

= 54 days

what does this article say about being on time ?

what does this article say about being on time ?

Answers

Answer:

1. Endeavour to take a practice trip the same time you leave for work in order to know what time you will arrive at work.

2. In order not be in a hurry and anxious, endeavour to arrive 15 minutes earlier. Also, don't arrive too early in order not to affect others.

Explanation:

What the article tells about being on time are;

Being on time helps to know activities/practice that would allow you to meet up with time in every occasion.

Arrival at a planned event 15 minutes earlier prevent being anxious and hurriedness.

Being on time is very necessary to prevent being anxious and hurriedness , it makes one cool and calm in all events.

For one to be on time some practices are needed, such as arrival at the event 15 minutes earlier, make sure you engaged on a practice trip to know actual time that could be required to get to the venue.

We can can also conclude that being hygienic and being groom also play a role in adiring to time.

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above is a trading profit and loss with the balance sheet question

pls I need an urgent solution to this​

above is a trading profit and loss with the balance sheet questionpls I need an urgent solution to this

Answers

If that writing could be a little bit more clear I promise I would help. Could you type it up and send it so I can properly see it to do it.

Determine the amount of tax liability in each of the following instances:

a. A married couple filing jointly with taxable income of $32,991.
b. A married couple filing jointly with taxable income of $192,257.
c. A married couple filing separately, one spouse with taxable income of $43,885 and the other with $56,218.
d. A single person with taxable income of $79,436. A single person with taxable income of $297,784.
e. A head of household with taxable income of $96,592. A qualifying widow with taxable income of $14,019.
f. A married couple filing jointly with taxable income of $11,216.

Answers

The determination of the tax liability in each of the following instances is as follows:

          Taxable     Filing        Tax            Tax

          Income     Status       Rate         Liability

a.       $32,991     Joint          12%           $3,958.92

b.     $192,257     Joint          24%         $46,141.68

c.      $43,884     Separate   12%          $5,266.08

c.      $56,218      Separate   12%           $6,746.16

d.     $79,436      Single       22%         $17,475.92

d.     $297,784    Single       35%      $104,224.40

e.     $96,592      Household 24%     $23,182.08

e.      $14,019      Widow        12%         $1,682.28

f.       $11,216       Joint           10%           $1,121.60

What is a tax liability?

A tax liability is the payment that an individual or couple must pay within the tax year to the government.  Generally, tax liabilities arise when the individual earns income or sells an investment.  Examples of tax liabilities are income taxes or capital gains taxes.

Thus, the tax liability of each instance depends on the tax rate and the filing status of the individual or couple.

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is the creation of real or perceived differences in goods or services.

Answers

I would say in (goods) I may be wrong but correct me plz!

Answer:product differentiation

Explanation:

what are the components of egg, identify and describe each​

Answers

Eggs consist of approximately 9.5% eggshell (including shell membrane), 63% albumen, and 27.5% yolk (1) (Table 1). The main components are water (75%), proteins (12%), and lipids (12%), as well as carbohydrates and minerals (2, 3).

hope this helps

Money's power to buy goods and services changes ________.

Answers

Answer:

...with rates of inflation.

Explanation:

The more that a particular currency appears in the market without any work (value) being associated with that currency, the smaller the value of that particular form of currency (For example, the U.S. dollar). When inflation is high, banks will increase interest rates on loans in order to get rid of some of the of the surplus currency in the market, bringing down inflation and increasing the total value of a particular form of currency.

Keep track of everything you purchase for an entire day this week. Make a list of your purchases, price, and total cost of all purchases for that day. Discuss whether the amount surprised you or not.

Answers

Answer:

Explanation:

While making purchases for a day I have to make sure that the things that should be bought must be within the money in my hand.If Iam not able to purchase the preferred things that I like buying with the money in hand, then the best possible solution is to buy the most necessitate things rather than buying things that I wish for.Survival is important than preference.Then I would not be surprised by my budget for the day.

Which of the following choices represents two consumers?
A grass and grasshopper
B.rabbit and dog
C. mushroom and frog
D.turtle and flower


I need help ASAP​

Answers

Answer:

Option B

Hope it helps..

The choice that represents two types of customers is B.rabbit and dog.

What kind of customers are rabbits and dogs?

Rabbits are a type of customer that will not pay very much for the goods they buy. They prefer cheap things.

Dogs on the other hand, are easier to negotiate with to make profits because they usually accept a price as it is.

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what is the real name of rocky

Answers

Robert "Rocky" Balboa

what is economic?where it's used in?

Answers

Answer:

Economics is "the social science that studies the production, distribution, and consumption of goods and services." Economics focuses on the behaviour and interactions of economic agents and how economies work.

Explanation:

internet definition ^

Which one of these is the best way to prevent foreclosure?
1. Save at least 1% of your home's purchase price annually.
2. Refinance as soon as possible
3. Use a budget to live within your means and build savings
4. Never accept an adjustable-rate mortgage

Answers

Answer:

3. Use a budget to live within your means and build savings

This is always the best option to prevent financial problems like a foreclosure. Budgeting your expenses according to your income, and building savings should prevent any person from defaulting on his or her mortgage payments.

However, in less ideal situations, if a foreclosure can be reasonably projected in the future, the best option to prevent it is to 2. Refinance as soon as possible

Explain link between creativity, innovation and entrepreneurship, and outline the steps for screening opportunities

Answers

Creativity, innovation, and entrepreneurship are interconnected and essential for driving economic growth. When screening opportunities, aspiring entrepreneurs should engage in creative idea generation, evaluate market potential, conduct thorough research,

Creativity refers to the generation of novel and valuable ideas, while innovation involves turning those ideas into practical solutions.

Entrepreneurship, on the other hand, is the process of identifying and pursuing opportunities, mobilizing resources, and taking risks to create and manage a successful venture. The link between these three concepts lies in their mutually reinforcing nature. Creativity fuels innovation by providing the initial spark for new ideas and perspectives.

Innovation, in turn, serves as a platform for entrepreneurial endeavors, as it creates opportunities for commercialization and market disruption. Entrepreneurship then takes these innovative ideas and transforms them into tangible products, services, or businesses that generate value and drive economic growth.

When screening opportunities, aspiring entrepreneurs can follow a systematic approach:

Idea Generation: Encourage and engage in creative thinking to generate a pool of potential opportunities.

Opportunity Evaluation: Assess the feasibility, market potential, and competitive landscape of each idea.

Market Research: Conduct thorough research to understand target customers, their needs, and existing solutions.

Resource Assessment: Evaluate the resources required to pursue the opportunity, including financial, human, and technological aspects.

Risk Analysis: Identify and evaluate potential risks and uncertainties associated with each opportunity.

Business Model Development: Formulate a clear and viable business model that outlines how the opportunity will be monetized.

Prototype and Testing: Develop prototypes or minimum viable products to gather feedback and validate the opportunity.

Financial Analysis: Conduct a comprehensive financial analysis to determine the potential profitability and sustainability of the opportunity.

Decision-making: Prioritize and select the most promising opportunities based on the evaluation and analysis.

Implementation and Execution: Develop an action plan and execute it effectively, leveraging creativity, innovation, and entrepreneurial skills.

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!!NEED HELP ASAP!!
Michael Anthony is purchasing a $15 cake for his mothers birthday.

1. should he use his debit card or credit card?

2. using your answer to part 1, provide two reasons that support your choice.

Answers

As Michael Anthony is purchasing a $15 cake for his mothers birthday:

he can use a debit card to purchase the cake if he had $15 or more than in his checking account.he can use a credit card to purchase the cake if his credit service is available.

What is difference between debit card or credit card?

Basically, a debit card will only uses funds from your bank account while a credit card is linked to a credit line that can be paid back later mostly with an interest fee.

The difference is also that debit cards are linked to a bank account and draw directly from those moneys while credit card does not draw any money immediately and must be paid back in the future.

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What is the yearly cost per thousand of a whole life policy with a face value of $25,000 if the annual premium is $567?

Answers

Answer:

$22.68

Explanation:

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Consider a firm redesigning its logistics network. What are the advantages of having a small number of centrally located warehouses? What are the advantages of having a larger number of warehouses closer to the end customers?

Answers

Small centrally located warehouses offer cost efficiency and simplified inventory management, while larger warehouses closer to customers provide faster delivery, better customer service, and cost savings in shipping.

Having a small number of centrally located warehouses offers several advantages in a firm's logistics network:

Cost Efficiency: Centralized warehouses can lead to cost savings in terms of inventory management, transportation, and operational overheads. With fewer warehouses, the firm can benefit from economies of scale in procurement, storage, and distribution.

Simplified Inventory Management: Managing inventory becomes more streamlined when there are fewer warehouses. It allows for better control and visibility over stock levels, reducing the risk of stockouts or overstocking.

Faster Transit Times: With centrally located warehouses, products can be shipped more quickly to various regions since they are closer to major transportation hubs. This reduces lead times and improves overall customer satisfaction.

Improved Coordination: Centralized warehouses facilitate better coordination and synchronization of supply chain activities. It becomes easier to manage inbound and outbound logistics, optimize transportation routes, and consolidate shipments.

On the other hand, having a larger number of warehouses closer to end customers provides the following advantages:

Faster Delivery: Proximity to end customers enables faster order fulfillment and delivery. Products can reach customers more quickly, reducing transit times and improving responsiveness.

Enhanced Customer Service: Local warehouses allow for better customization and personalization of service. They can cater to specific regional preferences, offer faster response times to customer queries, and handle returns or exchanges more efficiently.

Lower Shipping Costs: By locating warehouses closer to customers, transportation costs can be reduced as products travel shorter distances. This can lead to cost savings in shipping expenses.

Flexibility and Redundancy: Having multiple warehouses distributed geographically provides redundancy and flexibility in the supply chain. It mitigates the risk of disruptions, such as natural disasters or transportation issues, as the firm can rely on alternative warehouse locations.

In summary, a small number of centrally located warehouses offer cost efficiency and streamlined inventory management, while a larger number of warehouses closer to end customers provide faster delivery, improved customer service, lower shipping costs, and increased flexibility.

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Initiative means letting your boss define your tasks.

Answers

Answer:

False

Explanation:

1. the ability to assess and initiate things independently.

2. the power or opportunity to act or take charge before others do

Answer:

F

Explanation:


A sentence that contains one independent clause and one or more dependent clauses is a

Answers

Answer:

Complex sentence they always have one independent clause + 1 or more dependant clause

Joined by using conjunctions!

The customer returns for the Fall season were 10% on gross sales of $900,000. For the Spring season, gross sales were $850,000, and customer returns were $70,000. What was the percentage of customer returns for the entire year

Answers

Answer:

the percentage of customer returns for the entire year is 9.14%

Explanation:

The computation of the percentage of the customer returns for the entire year is as follows;

= Total customer returns ÷ Total gross sales

= ($900,000× 10% + $70,000) ÷ ($900,000 + $850,000)

= ($90,000 + $70,000) ÷ ($1,750,000)

= 9.14%

Hence, the percentage of customer returns for the entire year is 9.14%

The Consumer Product Safety Commission (CPSC) does not
O have seven commissioners
O appoint its commissioners for seven-year terms
O ensure that products have adequate warnings and instructions
O represent an independent regulatory commission

Answers

No independent regulatory body is represented by the Consumer Product Safety Commission (CPSC).

What is the product?

The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that can be charged.

A safe product is one that, while taking into account the regular or reasonably anticipated usage of the product and the requirement to maintain a high degree of protection for consumers, offers either no risk or a minimum tolerable level of risk.

The Consumer Product Safety Commission (CPSC) protects the public from unreasonable risks of serious injury or death from thousands of types of consumer products under its jurisdiction, including products that pose a fire, electrical, chemical, or mechanical hazard or can injure .

Therefore, Thus option (D) is correct.

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Two key aspects of financial planning are cash planning and profit planning. Cash planning involves the preparation of the cash budget and profit planning involves preparation of pro forma statements. To make cash budget and pro forma statements for a firm, accounting knowledge is needed. Do accounting courses you took before help you better understand how to make cash budget and pro forma income statement and balance sheet? Explain.

Answers

Yes. Accounting courses I took before helps us understand how to make cash budget and pro forma income statement and balance sheet.

Here's how accounting courses can help individuals in creating cash budgets, pro forma income statements, and balance sheets:

Cash Budget: Accounting courses teach students about the importance of cash flow management and how to prepare a cash budget. Pro Forma Income Statement: Accounting courses teach students how to analyze historical financial data and use it to forecast future performance. Balance Sheet: Accounting courses provide a comprehensive understanding of balance sheets and their components. Students learn how to analyze assets, liabilities, and shareholders' equity to assess the financial position of a company.

By studying accounting, individuals gain a solid foundation in financial concepts, reporting standards, and analytical techniques. This knowledge equips them with the skills necessary to create cash budgets, pro forma income statements, and balance sheets effectively.

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Entrepreneurs generally think differently about resources than do employee-managers in which of the following ways?

Answers

Managers want larger budgets; entrepreneurs work to do more with less.

How do entrepreneurs approach resources differently from employee-managers?

Entrepreneurs have a distinct mindset when it comes to resources compared to employee-managers. While managers often seek larger budgets to accomplish their goals, entrepreneurs tend to focus on doing more with less.

This difference in perspective stems from the inherent nature of entrepreneurship which involves taking calculated risks and maximizing efficiency in resource allocation.

Entrepreneurs understand that resources, such as capital, time, and manpower, are limited and valuable. They recognize that acquiring substantial budgets may not always be feasible, especially in the early stages of a venture.

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What is the relationship between quality and productivity? Explain.

(Principles of Management)

Answers

Answer: Quality and productivity are closely related concepts in management. Quality can enhance productivity, while productivity can affect quality. Both require effective management to achieve optimal outcomes. It is important for managers to balance quality and productivity to ensure that both are optimized and that the company achieves its goals.

Explanation:

Quality and productivity are two important concepts in the field of management, and there is a close relationship between them. The relationship between quality and productivity can be explained as follows:

Quality can enhance productivity: When quality is improved, it can enhance productivity. This is because high-quality products or services are often more efficient and effective, which can lead to increased productivity. For example, if a manufacturing company produces high-quality products that have fewer defects, it can improve its production efficiency and reduce the need for rework, which can ultimately increase its productivity.

Productivity can affect quality: On the other hand, productivity can also affect quality. When productivity is increased, there may be a temptation to sacrifice quality in order to achieve higher output levels. This can lead to lower-quality products or services, which can negatively impact customer satisfaction and the company's reputation.

Quality and productivity both require effective management: Both quality and productivity require effective management to achieve optimal outcomes. Effective management can ensure that resources are allocated efficiently, processes are streamlined, and performance is monitored to ensure that quality and productivity goals are being met.

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Answer:

Higher quality often leads to increased productivity as it reduces the need for rework and increases customer satisfaction. However, productivity can sometimes lead to a decrease in quality.

Explanation:

The relationship between quality and productivity is complex and intertwined. In general, improving quality can lead to increased productivity, as fewer mistakes and rework mean that work is completed more efficiently. Similarly, increasing productivity can also lead to higher quality, as workers have more time and resources to focus on doing the job right.

However, it is important to note that the relationship is not always linear or straightforward. Sometimes, attempting to increase productivity at the expense of quality can actually decrease overall productivity, as mistakes and rework can end up taking more time and resources in the long run.

Ultimately, the key to maximizing both quality and productivity is to strike a balance between the two, focusing on continuous improvement in both areas and ensuring that efforts to increase one do not come at the expense of the other.

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What would happen to ALL THREE areas of business spending if:__________.

Answers

Answer:

bankrupt

Explanation:

Step 2. Search to find any summary about the company that mentions funds for starting the business. Try to find any information containing employee data in this section.
Step 3. Find the section where the product or service is detailed. Look to see what kinds of products or services will be involved with the business. Compare this with what other similar business plans are offering.
Record the information you found for steps 2 and 3. Make sure you discuss how the company got money to start the business, employee data, and what products or services the company provides in comparison with what other similar business plans are offering.

Answers

We can see here that such company gotten after searching for company that mentions funds for starting the business is Go-o-gle.

Funds for starting the business: $1 million in funding from Andy Bechtolsheim.

Employee data: over 160,000 employees worldwide.

What is a company?

A company is a legal and organizational entity formed by individuals or a group of individuals with the purpose of conducting business activities. It is an association of individuals who come together to engage in commercial, industrial, or professional activities in order to generate revenue and make a profit.

Their products are digital and online services.

Comparing this company, we see Microsoft.

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1. A 12 kilogram block is sitting on a platform 24 m high. How much Potential energy doesit contain? What factors make up culture? Right after Huck learns that Jim has been sold, he considers letting Miss Watson know where Jim is so she can reclaimhim. Which of the following is foreshadowing hinting that Huck will help Jim get free?"I most dropped in my tracks I was so scared."O "It would get all around that Huck Finn helped (Jim) to get his freedom"O ... soon give up (the idea of telling Miss Watson because) she'd sell (Jim) straight down the river againO "I'd better write a letter to Tom Sawyer and tell him to tell Miss Watson where (Jim) was." Find the equation of a line perpendicular to - 3x + y = - 5 that contains the point (1, 4) Write the equation in slope intercept form 1. What objects are represented in each of the four color photographs?2. Cite three other types of objects that were found in Tutankhamun's tomb but donot appear in these five photographs.3. What symbolism appears on the objects represented in both Photo 2 and Photo 5? how did American boys try to connect to the war ww2 Considering multiple points of view means a. synthesizing material. b. using fast thinking. c. identifying similar opinions and theories. d. gathering information from one source. Which territories were acquired under James K. Polk's administration ? Using the maps above and video, describe how the extent of the Ottoman Empire changed from the 15th century to the 18th century. A box contains 72 cups of fruit juice. one serving size is 12 cup. how many servings can be made from the fruit juice? When Sandra is at the bottom of the Ferris wheel's rotation, how does the magnitude of the normal force ???? exerted on her by her seat compare to her weight m???? ?A. ????=m????B. ????>m????C. ????=12m????D. ???? E. ????=2m???? Max Plays his games for 20 min an he started at 9:00 he risk that interest payments will not be made, or that the face value of a bond is not repaid when a bond matures is group of answer choices default risk. inflation risk. liquidity risk. interest rate risk. 20 POINT QUESTION!!COMPOSE A 4- 5 SENTENCE explain how the hundred years war to the end of medieval Europe and set the stage for monarchical nation-states. ..ZZZZZZZZZZAZ the number and arrangement of flagella can be different for different microorganisms. for instance, flagella arrangement can be described as amphitrichous, monotrichous, peritrichous, lophotrichous, or polar. categorize the phrases and items below as instances of each arrangement. requires the destination to do any necessary presentation formatting based on architecture tag included as part of the data? You are selling candy for $2 each and burgers for $5 each. You have a budget for $150. The equation for this situation can be written as 2x+5y=150Find the x intercept and y intercept. Show all work.If you are selling 0 burgers, how many candies did you sell? Show your work.If you are selling 0 burgers, how many candies did you sell? Show your work. Use the accompanying data set to complete the following actions. a. Find the quartiles. b. Find the interquartile range. c. Identify any outliers. 41 52 35 43 41 36 39 47 43 37 34 56 42 34 15 52 38 51 30 30 a. Find the quartiles. The first quartile, Q1, is _______ The second quartile, Q2, is _____ The third quartile, Q3, is _______ How has the geography of Korea (North and South) and Japan shaped its development?