On November 1, Atlas Inc. paid a premium of $3,600 for a three-year general business insurance policy

Fantastic news! We've Found the answer you've been seeking!

Question:

On November 1, Atlas Inc. paid a premium of $3,600 for a three-year general business insurance policy that covers risks from fire and theft. What amount of insurance will expire each month?

a. $300

b. $150

c. $360

d. $100

Related Book For answer-question

Financial and Managerial Accounting the basis for business decisions

ISBN: 978-1259692406

18th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

See More Books

Posted Date: Jan 10, 2021 11:47 PM

See More Questions

From the following details calculate the Land & Building purchased during the year - Land & Building on 1.4.2018 = 2,00,000 Land & Building on 313.2019 = 2,13,750 Depreciation provided on land &...
When the full cost of producing a good or service is not reflected in the resultant curve this is referred to as what type of failure? Multiple Choice Supply side Demand side Market side...
1. On 1 November 2019 Pippen Ltd contacts Jordan Inc to enquire about US$20m worth of machinery that Jordan Inc is manufacturing. By the 30 November the two companies have agreed sale terms after...
29. According to cognitive dissonance theory, why do people change their attitudes to match their behaviour? (1 Point) People guess their attitude from the O behaviour they see themselves performing...
A purchasing manager is deciding whether to purchase a component part from one of two suppliers. Both suppliers offer the part with the same quality, and there is no difference between the suppliers...
On January 1, 2013, Nathan Company received a 5-year, $7,000,000 loan, with interest payments occurring at the end of each year and the principal to be repaid on December 31, 2017. The interest rate...
Using Program15.m (central difference method), solve Problem 11.20. Data From Problem 11.20:- The equations of motion of a two-degree-of-freedom system are given by \(2 \ddot{x}_{1}+6 x_{1}-2...
Ginos Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12 and 16 frozen pizzas for June 2013: There are three direct materials used in...
On January 1, 2019, the lessor leased a machinery to another entity with the following details (lease payments are received at the end of the year): Cost of the machinery Lease term Useful life of...
The file P02_07.xlsx includes data on 204 employees at the (fictional) company Beta Technologies. For this problem, consider this data set as the population frame. a. Using the method in this section...
Joe has a business where he makes chairs. In producing the chairs, he makes use of a building and a machine. Joe rents a building for R30,000 per month and rents a machine for R20,000 a month. Those...
Franchising has certainly become a key component of the Canadian economy. What do you see as the major advantages and disadvantages of franchising?
Discuss whether you personally agree with the majority opinion or with the dissenting justices in the Texas and explain why.
What other trends do you think we'll see in the next 25 years that will affect business? Find an article about an interesting trend and share it here with your insights.
Explain what an asset purchase of a business is and what a stock purchase of a business is. What are the differences between the two.
Placing an exact dollar amount on the value of a business may be quite difficultbut not impossible. Certain tangible assetsvehicles, machinery, inventory, and so forthmay be fairly easy to value....
Carrier Sales Sales discounts $ 164,000 2,000 Sales returns and allowances Cost of goods sold 16,000 97,236 Lennox $ 830,000 19,000 6,000 514,395 Trane York $ 52,000 $ 271,000 600 4,800 5,300 1,700...
Wal-Mart is the second largest retailer in the world. The data file on the disk holds monthly data on Wal-Marts revenue, along with several possibly related economic variables. a) Using computer...
Euroam is a U.S. corporation that purchases motors from European manufacturers for distribution in the United States. A recent purchase involved the following events: Dec. 1 Purchased tractors from...
Jackson Company recently calculated its break-even sales revenue to be $32,000. For each dollar of sales revenue, $0.75 goes to cover variable costs. Compute the following. a. The contribution margin...
The accountants for Monoglut, Inc., have developed the following information regarding the standard cost and the actual cost of a product manufactured in March: Instructions a. Compute the materials...
How does the product life cycle influence marketing strategy decisions?
What are the stages in the product life cycle?
What is the difference between secondary demand and primary demand?

On November 1, Atlas Inc. paid a premium of $3,600 for a three-year general business insurance policy

Question:

Expert Answer:

Total insurance premi... View the full answer

Financial and Managerial Accounting the basis for business decisions

Students also viewed these accounting questions