What Is the Proper Adjusting Entry at June 30 the End

question 196

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 $15400 and unexpired amounts per analysis of policies of $5000?

• A) Debit Insurance Expense $5000; Credit Prepaid Insurance $5000.
• B) Debit Insurance Expense $15400; Credit Prepaid Insurance $15400.
• C) Debit Prepaid Insurance $10400; Credit Insurance Expense $10400.
• D) Debit Insurance Expense $10400; Credit Prepaid Insurance $10400.

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Definitions:

Experimental Group

In research, the group of participants who are exposed to the independent variable or treatment of interest.

Control Group

In an experiment, the group of participants who are not exposed to the independent variable, used as a comparison to measure the effect of the treatment.

Experimental Group

The group in an experiment that receives the variable being tested, allowing researchers to determine the effect of that variable.

Human Laboratory Studies

Research experiments conducted in controlled environments on human subjects to study behavior, reactions, or biological processes.