1 answer

Al December 31. entry for - BE3-5 On July 1, 2017, Major Co. pays $15.120 to...

Question:

al December 31. entry for - BE3-5 On July 1, 2017, Major Co. pays $15.120 to Cruz Insurance Co. for a 3-year insur- ance cont
al December 31. entry for - BE3-5 On July 1, 2017, Major Co. pays $15.120 to Cruz Insurance Co. for a 3-year insur- ance contract. Both companies have fiscal years ending December 31. For Major Co., jour- nalize and post the entry on July 1 and the adjusting entry on December 31.

Answers

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format.

Answer Debit Credit Date July 1,2017. In the Books of Major Company General Journal Particulars Prepaid insurance Cash (To re

.

Similar Solved Questions

1 answer
Brief Exercise 21-06 Metlock Company leased equipment from Costner Company, beginning on December 31, 2019. The...
Brief Exercise 21-06 Metlock Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 6 years and requires equal rental payments of $24,542 at the beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a f...
1 answer
8. Consider the following multifactor (APT) model of security returns for a particular stock   Factor Factor...
8. Consider the following multifactor (APT) model of security returns for a particular stock   Factor Factor Beta Factor Risk Premium   Inflation 1.5               6%       &...
1 answer
CHEMWORK What volume (mL) of 0.250 M HN O3 is required to titrate (neutralize) a solution...
CHEMWORK What volume (mL) of 0.250 M HN O3 is required to titrate (neutralize) a solution containing 0.245 g of KOH? x mL HNO3 required Incorrect 8 item attempts remaining...
1 answer
The lifetime of a certain type of automobile tire (in thousands of miles) is normally distributed...
The lifetime of a certain type of automobile tire (in thousands of miles) is normally distributed with a mean of 32 and a standard deviation of 4. Round to the second. a) Find the 50 percentile of tire lifetimes. b) Find the tire life that has 70% above it. c) Find the two tire lives that hold the m...
1 answer
A horizontal circular platform rotates counterclockwise about its axis at the rate of 0.957 rad/s. You,...
A horizontal circular platform rotates counterclockwise about its axis at the rate of 0.957 rad/s. You, with a mass of 67.7 kg, walk clockwise around the platform along its edge at the speed of 1.13 m/s with respect to the platform. Your 21.1-kg poodle also walks clockwise around the platform, but a...
1 answer
Question 2: Suppose it takes 0.35 hours to drive from the garage to the beginning of the route, 0.3 h to drive betw...
Question 2: Suppose it takes 0.35 hours to drive from the garage to the beginning of the route, 0.3 h to drive between the route and disposal site, and 0.35 hours to return from the disposal site to the garage. It takes 0.25 hours to offload a truck at the disposal site. The crew is given two 20-min...
1 answer
~PVQ (Q -- P) → (PV) 7. Fill in the truth table for the statement below....
~PVQ (Q -- P) → (PV) 7. Fill in the truth table for the statement below. Р Q ~P Q+P T T T F F T F F...
1 answer
State the hypotheses and identify the claim, find the critical value(s), compute the test value, make...
State the hypotheses and identify the claim, find the critical value(s), compute the test value, make the decision, summarize the results (make the appropriate statement of the results of the claim included rejection of non rejection of the null hypothesis). Please show ALL work. DO NOT USE THE P VA...
1 answer
The conventional payback period ignores the time value of money, and this concems Blue Hamster's CFO....
The conventional payback period ignores the time value of money, and this concems Blue Hamster's CFO. He has now asked you to compute Delta's discounted payback period, assuming the company has a 10% cost of capital. Complete the following table and perform any necessary calculations. Round ...
1 answer
On a bank reconciliation, a bank fee for check printing not yet recorded by the company...
On a bank reconciliation, a bank fee for check printing not yet recorded by the company is: Multiple Choice Noted as a memorandum only. Added to the book balance of cash. Deducted from the book balance of cash. Added to the bank balance of cash. Deducted from the bank balance of cash....
1 answer
Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock...
Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock (par $1; outstanding, 490,000 shares) Preferred Stock, 8% (par $10; outstanding, 19,000 shares) Retained Earnings $ 490,000 190,000 966,000 On December 31, 2018, the board of directors is cons...
1 answer
[e]. Consider 2 metallic strips A (top) and B (bottom) of identical length (D, width (w) and thic...
[e]. Consider 2 metallic strips A (top) and B (bottom) of identical length (D, width (w) and thickness (see the sketch below). Strip A has a higher coefficient of thermal expansion compared to strip B. The strips are bonded together and the temperature is raised by AT>0. What shape will the two s...
1 answer
How do you find the slope of #5x + 3y = -2#?
How do you find the slope of #5x + 3y = -2#?...
1 answer
Need help with section 3.9 Exercises 3.9 At their first inaugurations, the first 10 presidents of...
Need help with section 3.9 Exercises 3.9 At their first inaugurations, the first 10 presidents of the United States were 57 61 57 57 58 57 61 54 68 51 years old. Find the mean, median, and mode of the ages of those presidents at their first inauguration 3.10 As part of a laboratory assignment in ...
1 answer
Problem 2 A vacuum-tube diode consists of two concentric cylindrical electrodes of opposite charge. The electric...
Problem 2 A vacuum-tube diode consists of two concentric cylindrical electrodes of opposite charge. The electric potential between the electrodes is given by V(x)C/ where x is in meters and C'is a constant. Let the distance between the electrode equal 13.0 mm and their potential difference equal...
1 answer
Questions 1 how do people with a disability come to be disadvantaged and devalued according to...
questions 1 how do people with a disability come to be disadvantaged and devalued according to the social model of disability? Questions 2 explain how a person-centred approach focuses on the needs, goals and contributions of individual persons. questions 3 explain what is meant by a person-centred ...
1 answer
Question 8 2 pts Suppose there is a massive drop in investment. According to the lecture...
Question 8 2 pts Suppose there is a massive drop in investment. According to the lecture slides, which of the following would be a likely result? A period of high unemployment A period of high inflation A period of high inflation and high unemployment A period of high inflation and high unemployment...