Smokey Company purchases a one-year insurance policy on July 1 for $11,136. The adjusting entry on December 31 is a.debit Insurance Expense, $5,568 and credit Prepaid Insurance, $5,568 b.debit Insurance Expense, $928 and credit Prepaid Insurance, $11,136 c.debit Insurance Expense, $11,136 and credit Prepaid Insurance, $11,136 d.debit Prepaid Insurance, $10,208 and credit Cash, $10,208

Riverrun Company provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $29,500 for medical insurance and contribute an additional $9,600 to a retirement program. Record the entry for these accrued (but unpaid) benefits on December 31. View transaction list Journal entry worksheet 1 Record the costs of employee benefits. Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal >

Adjustment for Insurance On December 1, a six-month liability insurance policy was purchased for $900. Analyze the required adjustment as of December 31 using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) (Balance Sheet)Prepaid Insurance   fill in the blank a8cfc50a8015fe0_2   fill in the blank a8cfc50a8015fe0_4 Bal. fill in the blank a8cfc50a8015fe0_5     (Income Statement)Insurance Expense Adj. fill in the blank a8cfc50a8015fe0_6       Page:     DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 20--Dec. 31       fill in the blank 59564e01b03df92_2 fill in the blank 59564e01b03df92_3 1 2         fill in the blank 59564e01b03df92_5 fill in the blank 59564e01b03df92_6 2

Wilson Company paid $6,300 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The balance in the prepaid insurance account before adjustment at the end of the year is $6,300, and no adjustments had been made previously. The adjusting entry required on December 31 is: Multiple Choice O O O Debit Prepaid Insurance, $1,575; credit Insurance Expense, $1,575. Debit Cash, $6,300; Credit Prepaid Insurance, $6,300. Debit Prepaid Insurance, $3,150; credit Insurance Expense, $3,150. O Debit Insurance Expense, $1,575; credit Prepaid Insurance, $1,575. Debit Insurance Expense, $3,150; credit Prepaid Insurance, $3,150.

zmo Company purchased a 1-year insurance policy on October 1 for $4,560. Journalize the adjusting entry on December 31. If an amount box does not require an entry, leave it blank. December 31 Insurance Expense Prepaid Insurance X X X 8 X

How to adjust and write this on general journal? The prepaid insurance account amounts to $12,000. Of this amount, $8,500 has expired as of December 31.

Do a journal entry based on this transections, round interest amounts to the nearest dollar,

Journalize the following entries on the books of the borrower and creditor.  Label accordingly. (Assume a 360-day year is used for interest calculations.) ​ June    1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30.  The cost of merchandise sold was $54,000.          30 James Co. issued a 60-day, 5% note for $90,000 on account. Aug. 29 James Co. paid the amount due.