What Is the Proper Adjusting Entry at June 30, the End

question 167

Multiple Choice

What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18,500, and unexpired amounts per analysis of policies of $6,000?

• A) Debit Insurance Expense, $6,000; Credit Prepaid Insurance, $6,000.
• B) Debit Insurance Expense, $18,500; Credit Prepaid Insurance, $18,500.
• C) Debit Prepaid Insurance, $12,500; Credit Insurance Expense, $12,500.
• D) Debit Insurance Expense, $12,500; Credit Prepaid Insurance, $12,500.

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Definitions:

Masculine Appearance

Physical traits or characteristics traditionally associated with men or male gender roles.

Disorders Of Sexual Development

Variations in sex characteristics including chromosomes, gonads, or genitals that do not fit typical definitions for male or female bodies.

Intersex

A term used to describe a variety of conditions where an individual is born with reproductive or sexual anatomy that doesn't fit typical definitions of male or female.

Turner Syndrome

A chromosomal disorder affecting females where one of the X chromosomes is missing or partially missing, leading to developmental issues.