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A $2,000 advance payment for a 1-year insurance is recorded as A. Insurance expense $2,000 Cash $2,000 B. Cash $2,000 Insurance expense $2,000 C. Prepaid insurance $2,000 Cash $2,000 D. Prepaid insurance $2,000 Insurance expense $2,000
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A $2,000 advance payment for a 1-year insurance is recorded as: C. Prepaid insurance $2,000 Cash $2,000
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Asked 2/29/2012 7:07:18 PM
Updated 2/29/2012 7:44:44 PM
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A $2,000 advance payment for a 1-year insurance is recorded as: C. Prepaid insurance $2,000 Cash $2,000
Added 2/29/2012 7:44:44 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [1/15/2014 5:09:32 AM]
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In order to close the dividends account, the A. income summary account should be debited B. income summary account should be credited C. retained earnings account should be credited D. retained earnings account should be debited User: Profit margin is a measure of A. liquidity B. profitability C. solvency D. risk
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Updated 11/11/2015 6:34:13 AM
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In order to close the dividends account, the retained Earnings account should be debited.
Added 11/11/2015 6:33:25 AM
This answer has been confirmed as correct and helpful.
Profit margin is a measure of profitability.
Added 11/11/2015 6:34:13 AM
This answer has been confirmed as correct and helpful.
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