User Account

All Pages

Which would be included in the journal entry on december

Assignment Help Accounting Basics
Reference no: EM132675349

On November 1, Ryker Company paid $4,500 cash in advance for 12 months of insurance, with the insurance period beginning November 1. This $4,500 was recorded as a debit to Prepaid Insurance Expense with a credit to Cash. As of the end of the year, no entry has yet been made to adjust the amount initially recorded.

Problem 1: Which of the following would be included in the journal entry on DECEMBER 31?

a.) Debit Prepaid Insurance Expense $4,500

b.) Debit Prepaid Insurance Expense $750

c.) Credit Prepaid Insurance Expense $4,500

d.) Credit Prepaid Insurance Expense $750

e. )Credit Insurance Expense $350

Reference no: EM132675349

Questions Cloud

Describe how this situation presents moral dilemma : Describe how this situation presents a moral dilemma. Identify the moral principles that are in conflict in this situation.
What are some of the barriers : Have you made evidence-based practice the norm in your practice and organization? What practices have you made sustainable?
Understanding of the taxonomy in role as a manager : Bloom's Taxonomy suggests that there are six types of cognitive activity that we can use to understand the world around us.
Gaap regulations allow for variations in reporting financial : The GAAP regulations allow for variations in reporting financial data. Depreciation may be calculated several different ways.
Which would be included in the journal entry on december : On November 1, Ryker Company paid $4,500 cash in advance for 12 months of insurance, Which would be included in the journal entry on DECEMBER 31?
Why bing revenue per search query : -Based on our case discussion, discuss why Bing's revenue per search query is less than half of Google's revenue per search query?
Introduce a major change within an organisation : How could you as a manager or supervisor utilise this insight to more effectively introduce a major change within an organisation?
Explain three major theories regarding way dividend payout : Explain three major theories regarding the way dividend payouts affect a firm's value. Explain what these terms mean, and briefly describe each theory
What is the gain or loss from disposal of property : What is the gain/loss from disposal of property, plant and equipment in fiscal year 2020 if the sale price of the disposed assets is $2 (millions)?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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