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...
-
Jim Jackson, a rate analyst for the Washington Water Power Company, while preparing for a rate case needed to forecast electric residential revenue for 1996. Jim decided to investigate three...
-
Define epigenetics. Are all epigenetic changes passed from parent to offspring? Explain.
-
Melting of ice is an example of (a) Adiabatic process (b) Isothermal process (c) Isochoric process (d) Isobaric process.
-
Before buying a house, Dean and Donna Testa hired Ground Systems, Inc. (GSI), to inspect the sewage and water disposal system. GSI reported a split system with a watertight septic tank, a wastewater...
-
Write the steps and the collection of clauses you would get for the following graph: 2 1 4
-
George and Harry Haygood are building contractors who specialize in the construction of private home dwellings, storage warehouses, and small businesses (less than 20,000 sq. ft. of floor space)....
-
Tatonka Inc. has a stock price of $45 and 50 million shares outstanding in the market. The company's balance sheet lists total equity of $1.5 billion. What is the company's market-to-book ratio?
-
Create a workflow plan for your selected area, operation or activity. Possible formats for your workflow plan include: workflow chart process map work schedule function or event run sheet any other...
-
How are both of the statements about tax reform misleading? I need help explaining why the graph is misleading. I know it has to do with the outliers dragging the mean, but I need more. 2017:...
-
Finding Net Business Income Sam Skip is a self-employed businessman in Alberta. Sam's business, Skip Ltd. has been in operation for several years. The business office is located at Sam's home. The...
-
You are hired as a data scientist for an insurance company. Every day the company receives a large number of accident claims. Among them, fraud claims are not rare. Examples of fraud may include fake...
-
A traveling merchant wants to go from village A to F, but the roads are dangerous and full of outlaws. He can only hire one guard to protect him on his journey. There are multiple roads that they can...
-
Write a MIPS assembly language for sorting an array of integers using non-recursive bottom-up merge sort algorithm. Your program should print the processed array after each step of the merge sort....
-
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...
-
Assume two periods to expiration, \(u=1.05, d=1 / 1.05, r_{f}=1.02, S_{0}=\$ 100\), no dividends, and \(X=\$ 100\) on a European put expiring at the end of the second period. a. Find: \(P_{u w}, P_{u...
-
Using the put-call parity model, determine the equilibrium price of the put in Question 1, given the equilibrium call value as determined by the binomial model. Comment on the consistency of the...
-
Suppose the US investor in Question 8 were risk averse, instead of risk neutral, and wants a risk premium of \(1 \%\) (annual) for assuming the exchange-rate risk on the international investment. a....
Study smarter with the SolutionInn App