Joel wants to start a winter sports business that will earn varying profit throughout the seasons. He will invest $14,000 to open his store on November 1st 2021 and analyze profits every season. On February 1st 2022 he makes $7,650 from winter sales. On May 1st 2022 he sees $5,350 from spring sales, on August 1st 2022 the store brings only $2,400 and finally on November 1st 2022 there is $6,700 from fall sales. Assuming a 16% MARR, what is the present value of Joel's first year of business

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.