subject
Business, 08.10.2020 01:01 maleahe

On July 1, 2017, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017. Zim Company has a Supplies account balance of $5,000 on January 1, 2017. During 2017, its purchase $2,000 of supplies. As of December 31, 2017, a supplies inventory shows $800 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2017.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 22:20
As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.
Answers: 2
question
Business, 22.06.2019 23:30
What is the difference between career options in the law enforcement pathway and career options in the correction services pathway?
Answers: 1
question
Business, 23.06.2019 04:00
The biweekly taxable wages for the employees of rite shop follow. compute the fica taxes for each employee and the employers fica taxes
Answers: 1
question
Business, 23.06.2019 09:50
For the year, uptowne furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. the depreciation expense was $56,100 and the tax rate was 34 percent. at the beginning of the year, the firm had retained earnings of $172,270 and common stock of $260,000. at the end of the year, retained earnings was $158,713 and common stock was $280,000. any tax losses can be used. what is the amount of the dividends paid for the year? a. $6,466 b. $7,566 c. $5,266 d. $6,898 e. $7,066
Answers: 3
You know the right answer?
On July 1, 2017, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have...
Questions
question
Mathematics, 12.10.2020 15:01
question
English, 12.10.2020 15:01
question
Mathematics, 12.10.2020 15:01