On October 1, St. George Insurance Company receives the insurance premium, in advance, from a customer for a 12-month insurance policy for $4,800. Assuming that the company closes its books on December 31, what will be the adjusting entry on December 31?

Q: 44. On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that covers…

A: a)

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A: Prepare journal entry:

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Q: On January 1, 2021, Umbrella Insurance Company has collected $24,000 for multiple two-year insurance…

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Q: n December 1, Sheridan Company introduces a new product that includes a one-year warranty on parts.…

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Q: On July 1, 2019, Carla Vista Co. pays $ 21.500 to Kingbird Insurance Co. for a 4-year insurance…

A: The process of recording business transactions in the books of accounts for the first time is known…

Q: On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that covers February…

A: 1.

Q: Please give answer

A: Step 1: Introduction to the Notes payableNotes payable are the sources of raising finance for the…

Q: structions: repare the entries in the Journal

A: Step 1 Journal is the Part of Book keeping.

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A: Journal Entry is a record of a transaction in accounting system

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A: Prepaid insurance on October 31, 2020 = $54,000Explanation:Given information, Fiscal year end =…

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Q: journal entry made by Indigo Company to record the transaction?

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Q: Part 1: Prepare a General Journal entry for the following transaction: On December 17, On Your Mark…

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A:

Q: Davis, Inc. borrows $49,071 on July 1 from the bank by signing a $49,071, 5%, 1- year note payable.…

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A: Journalize the entry:

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A: JOURNAL ENTRY In The Books of .......................................... Period…

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A:

Q: Lion Company accepted a $15,000, 30-day, 6% note on December 16 from Diaz Co, granting a time…

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A: Introduction: Journals: 1 ) Journals are book of prime records. 2 ) All the business transactions…