What is the total insurance expense recognized

Assignment Help Accounting Basics
Reference no: EM132837070

Question - You are analyzing the expenses and revenues in 2019 and during the first quarter of 2020 for your company as this is the first year of your company's operations. In the visualization, you focus on insurance expense that is pre-paid at the beginning of every three months (e.g., your company pays the premium on February 1, 2019 for February, March and April) and service contracts signed at the beginning of every month. These service contracts are paid by the clients in advance when signing the contracts and the company will perform the service in the following one or several months depending on the contract. Based on the visualization, please answer the following questions - What is the total insurance expense recognized for 2019 and total prepaid insurance recognized at the end of 2019?

Reference no: EM132837070

Questions Cloud

Affordable Care Act : The Affordable Care Act (ACA) identifies requirements related to provider compliance with fraud, waste, and abuse laws that have been enacted to protect
Describe the problematic behaviors of the student : Describe the problematic behaviors of the student, including why the behaviors may be problematic in specific social settings (e.g., home or school).
Understanding of indigenous culture and canadian history : What do you believe is the importance of understanding of Indigenous Culture and Canadian history through an Indigenous lens
Health care organizations continually face challenges : Health care organizations continually face challenges from various regulatory,government agencies while also being bound by Managed Care Organization standards
What is the total insurance expense recognized : Based on the visualization, please answer the following questions - What is the total insurance expense recognized for 2019
What is the impact of a parallel shift in the yield curve : Assume that the yield curve as of October 30, 2012, What is the impact of a parallel shift in the yield curve to the economic value of the bank?
Explain a strategy to mitigate each of the threats : Post an explanation of a threat to internal validity and a threat to external validity in quantitative research. Next, explain a strategy to mitigate.
Explain group dynamics in context of meetings : Using examples, describe the impact of productive versus unproductive group dynamics on achieving the desired outcomes of a meeting.
Customer relationship management : Steve wants to measure customer satisfaction in all areas of the business. Highlight the metrics you are recommending the company implement

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the maximum amount of income

Mr Z sold 25% of his business to his son, S. What is the maximum amount of income that S can report from the partnership for the year

  Prepare an answer sheet with the column headings shown

Record transactions and adjustments. Prepare an answer sheet with the column headings shown after the following list of transactions.

  Zack is a farmer who buys his feed and fertilizer from a

zack is a farmer who buys his feed and fertilizer from a farmer cooperative. in 2012 zack purchased 300000 in feed and

  A company had no office supplies available at the beginning

a company had no office supplies available at the beginning of the year. during the year the company purchased 250

  The company applies overhead costs based on direlect labor

prepare journal entries- post the entires to t accounts with the beginning balances with ending balances for raw

  What investors learn from interpreting the results of ratio

Select a company that trades common stock on the NYSE. Identify and describe the information that is included in the stock trading reports for that stock

  What key points would you make

You have just begun a new position in the Public Relations Department of the RIAA. You have been asked to prepare a one page summary defending the organization position against music piracy. What key points would you make?

  Prepare an analysis of all manufacturing overhead variances

Straightforward coverage of manufacturing overhead, standard-costing system. Prepare an analysis of all manufacturing overhead variances

  What is the net defined benefit liability

What is the net defined benefit liability/asset account that should be shown on Leonardo's December 31, 2017 statement of financial position

  Calculate the intrinsic value using the multistage model

Assume that over the next three years dividends will grow as follows, 5% next year, Calculate the intrinsic value using the multistage model

  What is the total amount of taxes withheld from earnings

The amount of federal income tax withheld from her earnings was $1,383.47. What is the total amount of taxes withheld from the Portia's earnings

  This special order would have no effect on the companys

direct labor is a variable cost. the special order would have no effect on the companys total fixed manufacturing

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd