Business, 16.10.2020 06:01 Alexis3456829

Consider the following transactions for Huskies Insurance Company: a. Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,000 per year.
b. On June 30, the company lends its chief financial officer $50,000; principal and interest at 7% are due in one year.
c. On October 1, the company receives $16,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited.
Required: For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 22:00, QueenNerdy889

If a bond is issued at a premium the effective interest rate is most likely

Answers: 2

continue

Business, 22.06.2019 06:00, Bloom247

According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is

Answers: 1

continue

Business, 22.06.2019 11:00, sbelgirl2000

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

Answers: 1

continue

Business, 22.06.2019 20:00, samanthasheets8925

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.

Answers: 3

continue

You know the right answer?

Consider the following transactions for Huskies Insurance Company: a. Equipment costing $42,000 is...