Asked by rafael

accounting what groups consistently offer opinions about proposed fasb statement
Answered by Courtney
The balance in the prepaid insurance account before adjustment at the end of the year is $4,800, which represents the insurance premiums for four months. The premiums were paid on November 1. The adjusting entry required on December 31 is:
Answered by judy
a business pays weekly salaries of $25,000 on Friday for a five-day ending on that day. Journalize the adjusting entry required at the end of the accounting period assuming the accounting period ends on Wednesday?