Mouse Inc. uses the alternative method of accounting for prepayments and purchased a $1,200, 6-month insurance policy. The company immediately debited the Insurance expense account. By the end of the period, $400 of the policy had expired. Demonstrate the required adjustment needed at the end of the period.
a) Credit Prepaid insurance $800.
b) Debit Prepaid insurance $800.
c) Debit Insurance expense $400.
d) Debit Prepaid insurance for $400.

Answers

Answer 1

Based on the amount of the policy that has expired, Mouse Inc. should b) Debit Prepaid insurance $800.

Why should this be done?

When prepayments such as these are made, they should be sent to the prepaid account. At the end of the period, the balance in the prepaid account should reflect expenses that have been paid for, but not yet incurred.

At the end of this period therefore, the prepaid expenses should be debited for $800 which is the amount of insurance that is yet to be used.

In conclusion, option B is correct.

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Related Questions

If the average family makes $50,000 and the real GDP per capita increases 4%, that will increase the family's total income to $_____.

Answers

If the average family makes $50,000 and the real GDP per capita increases 4%, that will increase the family's total income to $52,000.

Answer:

$52,000

Explanation:

$50,000 + 4% = 52,000

Sorry If I misunderstood

What can disqualify you from unemployment benefits.

Answers

Answer:

Quit without good cause.Were fired for misconduct.Didn't earn enough in your benefit year.Weren't employed long enough.Were self-employed.Provided false information on your unemployment compensation application.Did not actively look for a new job.

Of the following statements, which one or ones indicate possible effects of a low credit score? I. You will have a difficult time qualifying for loans. II. Any loans you take out will be relatively short-term. III. You will have to pay higher than average interest rates. A. I only b. I and II c. III only d. I and III Please select the best answer from the choices provided A B C D.

Answers

The statements that are correct about the low credit scorer are:

I.  The holder has a difficult time qualifying for loans.

II. The holder have to pay higher than average interest rates.

Option D is correct.

What is a credit score?

A credit score is defined as a numeric statement. That statement is on a level analysis of a person's credit files, to represent the creditworthiness of an individual.

A credit score is primarily founded on a credit statement or report, and the information is naturally sourced from credit departments.

The low credit scores are bad for the credit card holders, this arises due to them having a difficult time qualifying for loans.

If the credit score becomes low, then the credit card holder has to pay more taxes than the average interest rates.

Therefore, option D is correct.

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Answer:

D

Explanation:

Just took the test

You are considering paying $700 per year for a health plan that pays 70% of the first $1,000 of medical costs and 100% of any additional costs over that. If your total medical expenses for the year are $900, is it worth it for you to get the plan?.

Answers

Based on the cost of the health plan and the total medical expenses for the year, it is not worth it for you to get the plan.

Is it worth it to get the plan?

In order to determine if it is worth it to get the plan, compare the cost of the health plan to your medical expenses for the year. If your medical expenses for the year is less than the cost, then the plan is worth it.

Medical expense covred by plan is zero since your medical expense is less than $100. Thus the plan is too expensive.

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a scenario involving functions of a business​

Answers

Scenario Analysis

Scenario AnalysisExploring Different Futures

Imagine that you're facing a really important decision. It's one that could fundamentally affect your personal life, or determine the future of your business.

You've crunched the numbers and looked at the data, and everything seems fine. But deep down, you dread what might go wrong.

No one has a foolproof vision of the future, and even if your instincts are good, the outcomes that you predict could be disrupted by a range of different factors. On the other hand, things may turn out far better than you expected!

In this article, we explore how Scenario Analysis can bring these hopes and fears into the open, give you a rational framework for exploring them, and enable you to make the best possible choices.

Types of Scenarios

Challenging your assumptions about the future, and basing your plans and decisions on the most likely outcomes, means that your decisions will more likely be sound, even if circumstances change.

But what are the most likely outcomes? Author and corporate strategist Peter Schwartz, one of the pioneers of scenario thinking, identified the following common scenarios:

Evolution: all trends continue as expected. Things gently move toward a predictable end point.

Revolution: a new, disruptive, factor fundamentally changes the situation.

Cycles: what goes around comes around. Boom follows bust follows boom follows bust.

Infinite Expansion: exciting trends continue. Think of the computer industry in the 1950s.

Lone Ranger: the triumph of the lone hero against the forces of inertia.

My Generation: changes in culture and demographics affect the situation.

A company makes adjusting entries monthly. Its unadjusted trial balance on December 31 reports Income Taxes Expense of $100,000 and Income Taxes Payable of $20,000. The company's Tax Department estimates Income Taxes Expense for the entire year as $130,000. After making the necessary adjusting entry, the company's adjusted trial balance will report a

Answers

The company's adjusted trial balance after making the necessary adjusting entry will report a :

Debit balance in Income Taxes Expense of $130,000.

Credit balance in Income Taxes Payable of $50,000.

What is an adjusted trial balance?

A trial balance is the arithmetical accuracy of the ledger. An adjusted trial balance is a listing of the ending balances in all accounts after adjusting entries have been prepared.

The adjusting entry requires a $30,000 debit to Income Taxes Expense, which will increase its balance to $130,000 in the adjusted trial balance.

It also requires a $30,000 credit to Income Taxes Payable, which will increase its balance to $50,000 in the adjusted trial balance.

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When your résumé is first reviewed, a potential employer looks at it for approximately _____. A. 1 minute b. 30-45 seconds c. 15-30 seconds d. 2 minutes Please select the best answer from the choices provided A B C D.

Answers

When the résumé is first examined, a conceivable employer glances at it for approximately 15 to 30 seconds.

Option C is correct.

What is the purpose of a resume?

The purpose of a resume is to furnish an overview of an individual's talents, capabilities, and achievements.

It is a temporary promotion of whom a person is. It is a “snapshot” of a person with the intention of charging and highlighting welfare and securing the individuals in an interview.

A provider skims at it for very seconds and passes it. Recruiters and leaders or employers expend an average of 15 to 30 seconds scanning a personal resume.

The resume should function as a sales instrument, developed to merchandise the job-seeker to each forthcoming employer.

Therefore, option C is correct.

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What role does product/service management play in marketing?.

Answers

Answer:

El Marketing de Servicios es un conjunto de tácticas que tienen como objetivo agregarle valor al servicio ofrecido, con el fin de persuadir al cliente para que opte por una determinada empresa. A través de una estrategia de Marketing de Servicios, es posible garantizar la máxima satisfacción de consumidores y usuarios

Explanation:

Answer:

✒️Answer:

Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.

Explanation:

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[tex]watch.some.anime[/tex]

Garrett works with the Construction Manager on the job site. Garrett makes sure everything is up to code in the new building. Garrett is a(n) Construction Laborer. Operating Engineer. Building Inspector. Cost Estimator.

Answers

The job of the building inspector is to keep a check on the undertaking of activities in a righteous manner. Garrett can be referred to as a Building Inspector.

What are the duties of a building inspector?

A building inspector is such a person who is required to keep a rigorous check on the compliance related to the new construction in the surroundings it is being built in.

Not just this, a building inspector is also required to assess whether the national building codes are followed up to the mark in the construction of a building.

In the above example, Garrett is seen assisting the construction manager on the job site to make sure whether everything is up to the building codes in the new building, and thus he follows the duties as that of an inspector.

Hence, option C; Garret who makes sure everything is followed up to the codes in the new building is a Building Inspector.

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distinguish between character formating and paragrapgh formating

Answers

Answer:

A character style is a collection of character formatting attributes that can be applied to text in a single step. A paragraph style includes both character and paragraph formatting attributes and can be applied to a paragraph or range of paragraphs. Paragraph styles and character styles are found on separate panels.

True or False: A stop-payment fee is more expensive than paying a bounced-check fee and the value of the check itself.

Answers

I'm pretty sure it is false

A stop-payment fee is used if you write the wrong amount or the wrong recipient for a personal check. Stop-Payments ensure that you will not be charged for a purchase that you cancel after sending out the check. Most banks charge the account holder a fee of 15$ - 35$ for each stop payment order

A bounced-check fee is if your financial institution does not cover the check, it then bounces and returns to the depositor's bank. You'll most likely be charged for a penalty for the rejected check; this is a nonsufficient funds fee, the costs are around 35$ or more depending on your specific financial institution

Which of the following would most likely negatively affect a person's net worth?

A. A $25,000 salary
B. A $500 savings bond
C. A $500,000 mortgage
D. A $5,000 money market account

Answers

Answer: c

Explanation:

$500,000 mortgage would most likely negatively affect a person's net worth. Thus, option (c)  a $500,000 mortgage is correct.

What is net worth?

Totally unrelated to income is what is meant by the phrase "net worth." Liabilities are subtracted from assets to arrive at the person's own net worth. The wealthy possess possessions including real estate, investments, jewels, memorabilia, cars, and so on. A period of emergencies is covered by the net worth.

A person's personal net worth is significantly impacted by a $500,000 mortgage. The amount of money saved by the individual who wants to spend it is their net worth. The net worth mostly consists of investments and personal savings. Money accumulates to form the net worth.

The mortgages are highly impact on net worth. The net worth are personal liabilities minus to personal asset.

Therefore, option (c)  a $500,000 mortgage is correct.

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The strategy of making work interesting and motivating employees by moving them from one job to another is called job.

Answers

The strategy of making work interesting by moving them from one job to another is called job rotation.

What is job rotation?

Job rotation can be defined as the way of moving an employee to work from one department to another department  within the same organization or company.

Job rotation is important as it enables employee to gain more skills, experience and as well gives the employee the opportunity to work on different job roles.

Inconclusions the strategy of making work interesting by moving them from one job to another is called job rotation.

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Edria was faced with a situation in which she was given sensitive information about twenty different clients, including their social security numbers and bank statements. Which trait does Edria have that prevents her from selling the sensitive information? creativity logic integrity independence.

Answers

The trait that Edria has that prevents her from selling sensitive information is integrity.

What is integrity?

Code integrity is a threat security dimension that contains the manipulators and system files on the device for signs of breakdown or hostile software.

The fundamental manner of the integrity threat is changing messages/signals or media after precluding them in the center of the web.

For code integrity to work on your device, another security feature called Secure Boot must be enabled.

In the above case, Edria was encountered with a condition in which she was provided sensitive details about 20 different clients, considering the social security numbers and the bank statements.

The integrity on edge helps Edria to solve the condition by having sensitive information about the clients.

Therefore, option C is correct.

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Answer:

C. Integrity

Explanation:

Edge

The Jones Jewelry company has located the design and production of its jewelry operations offshore; the jewelry is being produced in Bangladesh. As a result, Jones Jewelry is exposed to all the following risks EXCEPT risks from _______.

Answers

As a result of Jones Jewelry locating the design and production of its jewelry operations offshore while producing in Bangladesh, Jones Jewelry is exposed to all the following risks EXCEPT risks from A. highly uniform quality standards.

What are the risks faced by multinational companies?

The risks faced by multinational companies include:

Institutional failuresCrimePolitical instability and violence (geopolitical conflicts, foreign nationalization of assets)Fluctuations in currency exchange rates.

Answer Options:

A. highly uniform quality standards.

B. foreign nationalization of assets

C. geopolitical conflict

D. unintended knowledge leakage to foreign competitors

Thus, the only risk that Jones Jewelry may not be exposed to is A. highly uniform quality standards.

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(Easy) Select the correct answer. Under which market structure does a firm have negligible influence over product pricing? {P!a+0}

A. perfect competition
B. monopoly
C. oligopoly
D. monopolistic competition
E. command economy

Answers

Perfect competition






Cameron Herold, business coach and mentor, challenges entrepreneurs to imagine the business in ______ year(s) with his concept Vivid Vision.

Answers

Cameron Herold, business coach and mentor, challenges entrepreneurs to imagine the business in three year(s) with his concept vivid vision.

Who is an entrepreneur?

An entrepreneur refers to a person that creates a new business and bears most of the risks and enjoying most of the rewards.

It is to be noted that an entrepreneur is the coordinating factor of a production as well hence bear the risk involved in such coordination.

Hence, Cameron Herold, business coach and mentor, challenges entrepreneurs to imagine the business in three year(s) with his concept Vivid Vision.

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why do you suppose California and Texas have the highest concentrations of federal employees outside of the Washington DC region? use your knowledge of geography and the location of the states on this map to guide your decisions (select all that apply)

A. both states have large seaports handling petroleum and another imports each year .

B. both states are important producers of agricultural products for the nation.

C. both states maintain international borders.

D. California headquarters the U.S air force and Texas headquarters the army.​

Answers

Answer:

I hope this helps

Explanation:

The answer is B

How might right to work laws affect the success of collective bargaining at a company.

Answers

Answer:  reduce the union's bargaining strength,

Explanation:

Airlines that offer lower fares on seats shortly before the flight’s departure date to fill empty seats are utilizing what type of pricing tactic?.

Answers

Airlines that offer lower fares on seats shortly before the flight’s departure date to fill empty seats are utilizing what type of pricing tactic: Dynamic pricing.


What is dynamic pricing?

Dynamic pricing can be defined as the situation where a company or business owner decide to change the price of the product due to low demand or when the price of a product is slice down or reduce due to market demand for such product.

Based on the given scenario the airline is making use of dynamic pricing due to low patronage so as to attract people.

Inconclusion airlines that offer lower fares on seats shortly before the flight’s departure date to fill empty seats are utilizing what type of pricing tactic: Dynamic pricing.

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The ability to obtain intellectual properly protection on key aspects of the business is most likely an issue related to ___________ .
PLEASE ANSWER FAST

Answers

Answer:

resource sufficiency

Explanation:

Resource sufficiency refers to an ability for a certain business to get enough resources that they need to scale their operation. Obtaining intellectual property is one of the way that a business can get to secure resource sufficiency.

Intellectual property can be used to prevent other businesses to make a similar product as you. This will eliminate the competitions and cut down the amount of money that you need to spend on marketing. In the end this will resulted in higher amount of capital that can use to scale the businesses.

The discussion about the book encourages teens to.


consider the ethics of certain scientific advances.


B


broaden what they consider dystopian literature.


explore environmental consequences of technology.


consider what happens when a person rebels against the norm.

Answers

The discussion about the book encourages teens to consider the ethics of certain scientific advances.

What is Dystopian Literature?

This refers to the use of speculative fiction to show the readers the settings of a place where there is bad events happening as a result of the actions of humans.

With this in mind and from the complete text, we can see that there is the narration of why teens find the end of the world so appealing and this makes use of dystopian literature to show them dangers of current social and political structures.

Hence, the correct answer is that the book encourages teens to consider the ethics of certain scientific advances.

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When should you receive your w-2 form from your employer?.

Answers

Answer: January 31

Explanation: by January 31 each year or the next business day if the date falls on a weekend or holiday.

The flexible budget performance report consists of ______. Multiple select question. the manager's performance evaluations the planning budget, flexible budget and actual results revenue and spending variances activity variances

Answers

The flexible budget performance report consists of the following:

Planning budget, flexible budget and actual results.Revenue and spending variances.Activity variances.

What is flexible budget performance report?

A flexible budget performance report can be defined as the type of report that use by management of a company  to measure the actual revenue generated with the budgeted revenue.

Flexible budget performance report is important for company or organization as they use it for performance evaluation.

Inconclusion the flexible budget performance report consists of Planning budget, flexible budget and actual results.

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Fancy Nails has an estimated cost for supplies of $0.75 per manicure. June's budget was based on 2,400 manicures and a total cost for supplies of $1,800. June's actual activity was 2,500 manicures. The actual cost of supplies in June was $2,000. Calculate the spending variance for June.

Answers

Assuming the actual cost of supplies in June was $2,000, the spending variance for June is $125 U.

Spending variance

Using this formula

Spending variance=Flexible budget-Actual activity

Let plug in the formula

Spending variance=($0.75 x 2,500 manicures)- $2,000

Spending variance=$1,875 - $2,000

Spending variance = $125 U

Inconclusion the spending variance for June is $125 U.

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If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as:.

Answers

a deduction from a/r in determining the net realizable value of a/r.

If the United States had negative net exports, it Question 6 options: sold more abroad than it purchased abroad and has a trade surplus. sold more abroad than it purchased abroad and has a trade deficit. bought more abroad than it sold abroad and had a trade surplus. bought more abroad than it sold abroad and had a trade deficit.

Answers

If U.S bought more abroad than it sold abroad and had a trade deficit, it will have negative net exports.

What is a negative net export?

A negative net export means a trade deficit which occurs because the overall value of the country's imports is greater than the overall value of its exports.

Hence, when its bought more abroad than it sold abroad and had a trade deficit, it will have negative net exports.

Therefore, the Option D is correct.

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(Easy & Urgent) Drag each label to the correct location on the image.
Match the factors to the type of financing adopted by the business.
Options Tiles:
A business with a poor credit rating.
A business in its growth stage.
A business which is not keen to
give up any part of its ownership.
A highly taxed company
A business which does not want
any obligation to pay back any
part of the investment
Boxes:
Equity Financing
Debt Financing

Answers

Answer:

first 2 go in dept financing the last 3 go in equity financing.

Explanation:

Hope this helps correct me if i'm wrong :)

A company had beginning inventory of 5 units that cost $10 each. During the month, 15 units were purchased for $11 each. The company sold 12 units during the month and had 8 remaining in ending inventory. If the company uses FIFO to calculate cost of goods sold, then its gross profit will be $5

Answers

It is true that the gross profit will be $5, If the company uses FIFO to calculate cost of goods sold.

What is FIFO?

First-in, first-out (FIFO) is a valuation method in which the assets produced or acquired first are sold, used, or disposed of first.

Under First in First out method, items that were purchased first will be availed for sale first.  In this case, the opening stock of 5 at $10 items will be sold first.  An additional 7 units will be required from the next batch of purchases at $11.

The costs of the first 12 units will be

= (5 x 10)+ (7 x 11)

= 50 +77

= $127

With LIFO, the items acquired last will be sold first. In this case, the 12 items sold will come the batch of 15 purchased at $11 in the months

Using LIFO, the cost of goods available for sale.

= 12 X $11

= 132

The difference is the costs of goods available for sale is $ 5, with FIFO having a lower cost. It means FIFO profits will be $5 more.

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Chelsea’s manager sent her an email asking to meet, for an unspecified reason, the following friday. Upon reading this email, chelsea remembered a situation six months prior when her manager sent such as email to another team member. During that meeting, the team member was laid off from the organization. Based on this recollection, chelsea is extremely worried about the upcoming meeting with her boss. Which type of bias is being represented?.

Answers

The type of bias which is being represented is:

Representative bias

What is Representative Bias?

This is a type of bias which has to do with the similarity of events and a belief that such an action would repeat.

With this in mind, we can see that because Chelsea has a fear of being sacked because there was a similar situation six months ago when a colleague was sacked, then this is a Representative bias

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