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New York University *

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265

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Accounting

Date

Nov 24, 2024

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Mmiiovvci Question 19 (3 points) On June 15, Boise Analytics, Inc. (BAI) paid $4,200 for insurance coverage that runs from June 15t to December 15t. What was the balance in the prepaid insurance account at the beginning of the third quarter? BAl's fiscal year runs from January 15t to December 315t. Because BAI's stock is publicly traded, the company prepares quarterly financial statements for its investors. Your Answer: Answer Question 20 (3 points) Refer to the foregoing information regarding BAl's insurance contract. How much insurance expense did the company recognize in the third quarter of the year? Your Answer: Answer
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