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Author Question: The cardinality constraint is used to specify both the minimum and maximum participation of one ... (Read 167 times)

Melani1276

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on: Jul 5, 2018
The cardinality constraint is used to specify both the minimum and maximum participation of one entity in the relationship with the other entity.
  Indicate whether the statement is true or false

Question 2

Prepare journal entries to record the following transactions regarding a fire insurance policy purchased by Chang Electronics. Chang's business operates on a calendar-year basis.
 
  a. April 1, 2013 - Chang arranges to buy fire insurance. He receives a bill for 10,000 for an insurance policy that covers the period April 1, 2013 through March 31, 2014
   b. April 10 - Chang pays the insurance bill.
   c. December 31- Chang prepares financial statements for the year ended. December 31, 2013 . He prepares an adjusting entry regarding insurance.


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kkenney

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Reply #1 on: Jul 5, 2018
Answer to Question 1

F

Answer to Question 2

a. Prepaid insurance 10,000
Accounts payable 10,000

b. Accounts payable 10,000
Cash 10,000

c. Insurance expense 7,500
Prepaid insurance 7,500


Melani1276

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

xiazhe

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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