This topic contains a solution. Click here to go to the answer

Author Question: Tumbler, Inc. bought a 3-year insurance policy on August 1 for $3,900. Assume no other adjusting ... (Read 111 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
Tumbler, Inc. bought a 3-year insurance policy on August 1 for $3,900. Assume no other adjusting entries have been done this fiscal year. The adjusting entry on December 31 would be:
◦ debit Insurance Expense, $108; credit Prepaid Insurance, $108.
◦ debit Insurance Expense, $542; credit Prepaid Insurance, $542.
◦ debit Prepaid Insurance, $108; credit Insurance Expense, $108.
◦ debit Prepaid Insurance, $542; credit Insurance Expense, $542.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by renzo156 on Feb 18, 2020

tuate

  • Sr. Member
  • ****
  • Posts: 332
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly




renzo156

  • Member
  • Posts: 526
Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)


ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

For a complete list of videos, visit our video library