Answer:
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Explanation:
Given;
Insurance policy was purchased on July 10 to run for 3 years.
Cost of policy = $72,000
Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)
Monthly depreciation = $72,000/(3 × 12)
= $2,000
Total amortization between August and December = 5 × $2,000
= $10,000
Journal entries
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Cash flows from investing do not include cash flows from : Borrowing.
<h3><u>
Explanation:</u></h3>
The cash flows either inward or outward of any company refers to the Cash flow from investing activities. The long term usage of cash will be considered under this. The investing activities includes the following such as purchasing a fixed asset, selling a fixed asset. These assets includes any property, plants, equipment,etc.
The cash flows are associated with the generation or spending of amount in the investing activities. This is a section that is included in the cash flow statement of an organisation. Thus, the cash flows for investing activities will not include the cash flows from Borrowing.
Answer:
$164,210 decrease
Explanation:
Calculation to determine what would be the amount of differential cost increase or decrease from making the part rather than purchasing it
Differential cost increase or decrease=(32,842 * 16)- (32,842 * 11)=
Differential cost increase or decrease=$525,472-$361,262
Differential cost increase or decrease=$164,210 decrease
Therefore what would be the amount of differential cost increase or decrease from making the part rather than purchasing it is $164,210 decrease
Rebecca is earning twice as much as Mark because she has added value to herself by getting educated and would most likely be able to solve problems faster and more efficiently than Mark assuming they are in the same industry. Here in lies the value of education.
<h3>
How does education help us earn better?</h3>
Education helps to drive innovation and critical thinking. Psychologically, education is one of the best ways to keep the mind active and sharp.
For a society to advance economically, education is essential. In order to consistently be creative, we require employees to pursue new knowledge and research.
Higher literacy rates are also associated with better economic conditions in a nation.
A population with higher levels of education has access to more work options. This is because education fosters research and innovation.
Learn more about education at;
brainly.com/question/24374672
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