Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for paid $4,000 for a two-year insurance premium o

For Paid $4,000 for a two-year insurance premium on July 1 of the current year;...

70.2K

Verified Solution

Question

Accounting

For Paid $4,000 for a two-year insurance premium on July 1 of the current year; debited Prepaid Insurance for that amount., why is the answer $1,000?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Why might price collusion occur in oligopolistic industries? Assess the economic desirability of collusive pricing. What are...

Economics
Q

10. Why is a probability sample preferred over a nonprobability sample? Summarize the shortcomings and strengths...

Psychology
Q

29 6 is what percent of 160 29 6 is of 160 Type an integer...

Basic Math
Q

16 Investing Stocks and Bonds Do bonds reduce the overall risk of an investment portfolio...

Statistics
Q

Find the derivative of the function by using the definition y 6x 7x 11

Calculus
Q

Given the inequality 3r 2 r 4 23r 4x 9 state if the given graph...

Algebra
Q

What is the primary purpose of financial accounting? A) To control the spending...

Accounting
Q

7 What is/are the main reason(s) for any customer to going back to the same...

Accounting
Q

Assignment Instructions You have been hired as the new budget controller for Banderhouse Inc., a...

Accounting
Q

Power Company reported tai naructuring costs of 3628,000, manufacturing overd totaling $78,000, and direct material...

Accounting
Q

The total nominal value of D.A. is 6,000 TL. It sold the bonds it issued...

Accounting
Q

Presented below is the income statement of Cowan, Inc: In addition, the following information related...

Accounting