Mariann8448 Mariann8448

27-08-2020
Business

contestada

On August 1 of Year 1, a company paid $1,200 cash in exchange for an insurance policy that protects the company from loss due to fire for a one year term. Based solely on this information, how will the December 31, Year 1 financial statements be affected

Respuesta :

nstancil88 nstancil88

03-09-2020

Answer:

The statement of cash flows will show $1,200 outflow from operating activities.

The balance sheet will show $700 of prepaid insurance.

The income statement will show $500 of insurance expense.

Explanation:

Answer Link

Otras preguntas

Outline the steps that would need to occur in order to move from a capitalist to a communist society. And what would a communist society look like according to

Solve. −2x−35=87 Enter your answer in the box. x =

The re post of the one I need help on

ITS SCIENCE BUT I HAVE TO GET THIS DONE how can it help when one type of food decrease and the other increases

Sandra bought 5 bags of candy. She shared it equally among 7 students. How much candy will each student receive?

hi jsjdbueusushhshsheu

What is a double bond

PERGUNTA 1 Um pesquisador deve escolher o seu método de pesquisa: a. Pelas facilidades em realizar a pesquisa. b. Pelas experiências de outros pesquisadores.

compared to an object that does not roll, but instead slides without friction, should a rolling object be released from the same,a greater, or a lesser height i

- 5 points What is the value of the expression 5m - 2n when m=3 and n=5? 3 5 13 28

ACCESS MORE