You are provided with the following information regarding a company with a 30 Sept 2020 year-end:...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
You are provided with the following information regarding a company with a 30 Sept 2020 year-end: The company incurred an expense of £8,600 in relation to insurance for the year ending 30th September 2020. The SOFP as at 30th Sept 2020, has a prepayment in relation to insurance of £3,500. The company paid £10,200 in relation to insurance during the year ending 30 September 2020. How much did the company prepay for insurance during the year ending 30th September 2019? . . . You are provided with the following information regarding a company with a 30 Sept 2020 year-end: The company incurred an expense of £8,600 in relation to insurance for the year ending 30th September 2020. The SOFP as at 30th Sept 2020, has a prepayment in relation to insurance of £3,500. The company paid £10,200 in relation to insurance during the year ending 30 September 2020. How much did the company prepay for insurance during the year ending 30th September 2019? . . .
Expert Answer:
Answer rating: 100% (QA)
1900 is the correct answer Calculation of amount of prepaid insurance as on ... View the full answer
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
Students also viewed these accounting questions
-
Required For each of the following events, determine the amount of freight paid by The Box Company. Also indicate whether the freight cost would be classified as a product or period (selling and...
-
Required For each of the following events, determine the amount of freight paid by Cycle Parts House. Also indicate whether the freight is classified as a product or period cost. a. Purchased...
-
Determine the amount of the completed gift, if any, arising from each of the following occurrences. a. A parent sells real estate valued at $1.8 million to an adult child, who pays $1 million in...
-
SG Company acquired 80% of Popsters Company on January 1, 2019, when the stockholders equity of Popsters consisted of: Ordinary shares, P100 par P500,000 Paid in capital in excess of par 400,000...
-
Below we list several variables. Which of these variables are quantitative and which are qualitative? Explain. a. The dollar amount on an accounts receivable invoice. b. The net profit for a company...
-
Chris Sutter, the production manager of Satellite Computers, insists that the floppy drives used in the companys upper-end computers be outsourced since they can be purchased from a supplier at a...
-
What does argv provide to our program?
-
On the basis of your answers to Problems 25-1 and 25-2, if Hastings were to acquire Vandell, what would be the range of possible prices that it could bid for each share of Vandell common stock?...
-
On the first day of their vacation the Morales family drove 312 miles in 6 hours at that rate how far will they travel the next day if they drive for 8 hours
-
Nike, Inc. , had the following condensed balance sheet on May 31, 2011 ($ in millions): Suppose the following transactions occurred during the first 3 days of June ($ in millions): 1. Nike acquired...
-
At the end of the first iteration, the K-means clustering algorithm has clustered the given 8 observations into the following 3 clusters: C1= {(4, 4), (5,5), (9,9)} C2 = {(0,5), (5,0), (3,0)} C3=...
-
Apply that same markup percentage to determine what selling price the company would set for its new optimizing service. How many customers will need to purchase this service from Splish for the...
-
1. Does the radius of the trajectory depend on the Current? Explain 2. Does the radius depend on the trajectory on the magnetic Field? Explain Does the radius depend on the accelerating voltage ?...
-
In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Martin 14.70 28.80 Lewis 12.80 25.65 Danforth 10.65 33.15 Garner...
-
Cartwell Inc. makes picture frames which are sold in a local retail store and through various websites. Wood for frames $ 16,500 Rent for retail store 4,300 Depreciation on office equipment 660...
-
Riley Company provides the following information for Material A: Actual quantity purchased and used 6,500 lbs. Standard quantity allowed 6,000 lbs. Actual price $3.80 Standard price $4.00 A. What was...
-
Jane commenced Master of Professional Accounting at ECU in February and incurred the following expenses: Course fees which Jane used FEE-HELP to pay $900 Student association fees $60 Travel expenses...
-
For the following exercises, find the area of the triangle. Round to the nearest hundredth. 22 50 36
-
The following data are based on information in the 2013 annual reports of H&R Block, Inc., and Intuit, Inc. Dollar amounts are in thousands. H&R Block, Inc., has subsidiaries that provide tax,...
-
At the end of 2016 the following information is available for the Alaska Company and the Colorado Company: Required a. For each company, compute the debt to assets ratio and the return on equity...
-
The following account balances come from the records of Ourso Company: During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account...
-
If price moves from disequilibrium to equilibrium, what happens to the combination of producer and consumer surplus in the market?
-
Why does nearly every purchase you make provide you with consumer surplus?
-
The chapter frames the issue of the effects of taxation in terms of its effects on producer and consumer surplus. a. What does that framework leave out of the analysis? b. How might one frame the...
Study smarter with the SolutionInn App