Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective...

 

 

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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $64,800 for t8 months, and the crop damage policy was $28,800 for á two-year term. What was the balance in Eves Prepaid Insurance account as of December 31, 20217 Mutiple Choice 136000 O s91600 O S4400 $57.000 The following table contains financial information for Trumpeter Inc. before closing entries: Cash $13,300 Supplies Prepaid Rent Salaries Expense Equipment 4,600 2,800 4,800 65,600 29,300 20,800 Service Revenue Miscellaneous Expenses Dividends 4,500 Accounts Payable 4,800 Common Stock 66,300 16,000 Retained Earnings What is Trumpeter's net income? Multiple Choice $4,200 $8.500 $3.700 $7.500 Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $64,800 for t8 months, and the crop damage policy was $28,800 for á two-year term. What was the balance in Eves Prepaid Insurance account as of December 31, 20217 Mutiple Choice 136000 O s91600 O S4400 $57.000 The following table contains financial information for Trumpeter Inc. before closing entries: Cash $13,300 Supplies Prepaid Rent Salaries Expense Equipment 4,600 2,800 4,800 65,600 29,300 20,800 Service Revenue Miscellaneous Expenses Dividends 4,500 Accounts Payable 4,800 Common Stock 66,300 16,000 Retained Earnings What is Trumpeter's net income? Multiple Choice $4,200 $8.500 $3.700 $7.500

Answer rating: 100% (QA)

Sol1 Liability policy Since the liability policy is for 18 months and all the payments regarding 18 ... View the full answer