What is the proper adjusting entry on December 31, the end of the accounting period, if the balance in the prepaid insurance account is $8,150 before adjustment, and the unexpired amount per the analysis of policies is $3,450?

A. Debit Insurance Expense, $8,150; credit Prepaid Insurance, $8,150.
B. Debit Prepaid Insurance, $4,700; credit Insurance Expense, $4,700.
C. Debit Insurance Expense, $3,450; credit Prepaid Insurance, $3,450.
D. Debit Insurance Expense, $4,700; credit Prepaid Insurance, $4,700.
E. Debit Cash, $8,150; Credit Prepaid Insurance, $8,150.

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?

When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is

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