Consider the following transactions for Huskies Insurance Company:
a. Equipment costing $36,600 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,100 per year.
b. On June 30, the company lends its chief financial officer $41,000; principal and interest at 7% are due in one year
c. On October 1, the company receives $12,400 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.
Answers: 1
Another question on Business
Business, 21.06.2019 20:30
Elizabeth believes her company has discriminated against her because her minority coworkers, who are less qualified, have been promoted ahead of her. which agency should elizabeth contact? - national alliance of business- affirmative action council- equal employment opportunity commission- federal trade commission- fair employment practices agency
Answers: 2
Business, 22.06.2019 07:10
mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.
Answers: 1
Business, 22.06.2019 10:10
At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:
Answers: 1
You know the right answer?
Consider the following transactions for Huskies Insurance Company:
a. Equipment costing $36,600 is...
Questions
Mathematics, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
Computers and Technology, 14.10.2019 10:00
History, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
Health, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
Physics, 14.10.2019 10:00
Mathematics, 14.10.2019 10:00
