An insurance company received advance payments of $12,000 from clients during the current year. At December 31, $10,000 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, what will the balances be in the unearned insurance revenue and insurance revenue accounts? unearned insurance revenue: $10,000; insurance revenue: $2,000 unearned insurance revenue: $10,000; insurance revenue: $12,000 unearned insurance revenue: $0; insurance revenue: $12,000 unearned insurance revenue: $2,000; insurance revenue: $10,000

on Nov 1 alan co.  signed a 120 - day, 9% note payable with a face value of 18,000. alan made the appropriate year-end accrual. what is the journal entry as of March 1 to record the payment of the note assuming no reversing entry was made

On December 31 (the end of the fiscal year), Ramesh Company received the PBO report from the actuary. The following information was included in the report: ending PBO, $112,000; benefits paid to retirees, $14,500; interest cost, $8,800. The discount rate applied by the actuary was 10%. What was the beginning PBO?

On 1/4/2021, Europa Insurance Limited entered into an insurance contract with a customer who paid the annual premium of $300,000 on that date. State, to the nearest whole dollar, the amount Europa Insurance Ltd would report as a liability at 30 June 2021.

Grandview, Incorporated uses the allowance method. At December 31, 2021, the company's balance sheet reports Accounts Receivable, Net in the amount of $27, 200. On January 2, 2022, Grandview writes off a $ 2,400 customer account balance when it becomes clear that the customer will never pay. What is the amount of Accounts Receivable, Net after the write-off? a $27, 200 b $2,400 c $29, 600 d $24, 800

Following are transactions of Danica Company. Dec. 13 Accepted a $18,000, 45-day, 10% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note.

December 13 Accepted a $22, 000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. January 27 Received Lee's payment for principal and interest on the note dated December 13. March 3 Accepted a $16, 000, 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. March 17 Accepted a $18,000, 30-day, 6% note in granting H. Cheng a time extension on his past-due account receivable. April 16 H. Cheng dishonored his note. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas payment for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round Intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the…

On October 1, 2024, Green Corporation loans one of its employees $26,000 and accepts a 12-month, 8% note receivable. Calculate the amount of interest revenue Green will recognize in 2024 and 2025.