On November 1, Able Corporation purchased a six-month insurance policy from The Baylor Agency for $3,000. a.
Question:
On November 1, Able Corporation purchased a six-month insurance policy from The Baylor Agency for $3,000.
a. Prepare the necessary adjusting entry for Able Corporation on November 30, assuming it recorded the November 1 expenditure as Unexpired Insurance.
b. Prepare the necessary adjusting entry for The Baylor Agency on November 30, assuming it recorded Able’s payment as Unearned Insurance Premiums.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
a Nov 30 Insurance Expense 500 Unexpired Insurance 500 To ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Accounting questions
-
On November 1, Girtz Corporation purchased a six-month insurance policy from The Tomptee Agency for $4,500. a. Prepare the necessary adjusting entry for Girtz Corporation on November 30, assuming it...
-
Calculate the WACC for the following company, using both book value and market value weightings. Book value Cost Ordinary shares GH30 million 20% Long-term debt 15 m 10% The debt is permanent and its...
-
B Ltd purchased an asset for $200 000 on 1 July 2015. This asset has a five year life and is depreciated straight line for both accounting and taxation purposes. B Ltd sold this asset to A Ltd on 1...
-
Which Of the following, which is the least likely component of the project charter? This type of question contains radio buttons and checkboxes for selection of options. Use Tab for navigation and...
-
Use the method of Lagrange multipliers in Problems 7-16. Maximize and minimize f(x,y) = x + ey Subject to x2 + y2 = 1
-
The following transactions relate to the business of Robin: Required a) Enter the transactions in the cash book. b) Balance the cash book on 30 May. 23 May 24 May 24 May 25 May 27 May 28 May 29 May...
-
Class Year by Gender Exercise 2.35 deals with the distribution of class Year for students in an introductory statistics course. The StudentSurvey data also has information on the Gender for each...
-
Your friendly foreign exchange trader has given you the following currency cross rates. The quotes are expressed as units of the currency represented in the left-hand column per unit of currency...
-
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's useful life is estimated at 10 years, or 403,000 units of...
-
Jimmy owns a garden in which he has planted N trees in a row. After a few years, the trees have grown up and now they have different heights. Jimmy pays much attention to the aesthetics of his...
-
Discuss the realization principle and how it is applied in the recognition of revenue. Does the receipt of cash for customers necessarily coincide with the recognition of revenue? Explain.
-
On February 1, Watson Storage agreed to rent Hillbourne Manufacturing warehouse space for $175 per month. Hillbourne Manufacturing paid the first three months rent in advance. a. Prepare the...
-
The cost to remove x percent of a pollutant is in thousands of dollars. Find the cost of removing the following percents of the pollutant. (a) 80% (b) 50% (c) 90% (d) Graph the function. (e) Can all...
-
Discuss a product or service you recently purchased. Be sure to include the product or service description or web page. Examine how this product or service description persuaded you to purchase....
-
Determine the number of HVM drums (if any) that should be purchased and the number of HVM drums and/or bike frames (if any) that should be manufactured. What is the increase in net operating income...
-
In billy crystals eulogy of mahommad ali how would you define the he seven characteristics defining the form, content, substance and style of a eulogy and what examples match the characteristics cite...
-
What are the trade-offs involved in implementing different disk scheduling algorithms, such as FCFS, SSTF, SCAN, and C-SCAN, with regard to minimizing disk seek times and maximizing throughput?
-
This assignment will be submitted to Turnitin. Instructions Search the Internet for a report produced by a government agency. One good example is the report "How Creativity Works in the Brain" by...
-
In a health monitoring scheme for power factor correction capacitors shown in Figure 9.23, the three capacitor banks in phase A, B, and C draw 12 A rms each when healthy. Determine the neutral...
-
The water in tank A is at 270 F with quality of 10% and mass 1 lbm. It is connected to a piston/cylinder holding constant pressure of 40 psia initially with 1 lbm water at 700 F. The valve is opened,...
-
What are the different types of ports?
-
Explain how an increase in a foreign exchange rate will affect a U.S. company that makes: a. Credit sales to a foreign company at prices stated in the foreign currency. b. Credit purchases from a...
-
Explain how an increase in a foreign exchange rate will affect a U.S. company that makes: a. Credit sales to a foreign company at prices stated in the foreign currency. b. Credit purchases from a...
-
When business transactions are conducted internationally, cultural differences must be taken into consideration. Geert Hofstede is a leading researcher on how cultural variables can affect such...
-
Let 1 f(z) = (2-1)(x-2) Find the Laurent expansion of f about z = 0 in the region {ze C: 1
-
Find all the complex numbers z such that z += 0. Is the set open or closed? {zC: z*+i=0}
-
For each of the following matrices A Maxn (R), test A for diagonal- izability, and if A is diagonalizable, find an invertible matrix Q and a diagonal matrix D such that Q-1AQ = D. (a) (63) 2 1 3 (b)...
Study smarter with the SolutionInn App