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What amounts should be retorted for prepaid insurance and insurance expense in the annual financial statements prepared at December 31?

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D. Option D
Answer: C
Explanation:
The insurance policy in effect at the beginning of the year expired and was renewed during the year. Hence, the entire US $3,600 beginning balance in the prepaid insurance account should be expensed. The amount of the prepayment on the new policy to be expensed is US $1,500 [3 months elapsed x$18,000 - 36-month duration of the policy)].
The debit balance in prepaid insurance at year-end is therefore US $16,500$18,000 $1,500), and total insurance expense is US $5,100$3,600 + $1.500).

NEW QUESTION: 2
What common trend is pushing customers toward intelligent storage solutions such as HPE storage?
A. the increasing IT expertise level in developers
B. the increasing volume of data
C. the shortage of storage capacity in public clouds
D. the increasing cost of flash storage
Answer: B

NEW QUESTION: 3

A. Option A
B. Option C
C. Option E
D. Option F
E. Option B
F. Option D
Answer: B,E,F
Explanation:
Explanation
http://www.cisco.com/c/en/us/td/docs/security/firesight/541/user-guide/FireSIGHT-System-UserGuide-v5401/A


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