Assume Minor Company Recorded the Following Adjusting Entry at Year-End

question 118

Multiple Choice

Assume Minor Company recorded the following adjusting entry at year-end: $$\begin{array} { | c | r | r | } \hline \text { Dr Insurance expense } & \$ 800 & \\\hline \text { Cr Prepaid insurance } & & \$ 800 \\\hline\end{array}$$ If the beginning balance in prepaid insurance was $700 and $1,500 was paid for an insurance premium during the year, the ending balance in the prepaid insurance account (after the above adjusting entry) would be which of the following?

• A) $100 debit.
• B) $1,400 debit.
• C) $1,500 debit.
• D) $2,200 debit.

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Definitions:

Perceived Partner

An individual's subjective understanding or assessment of their romantic or significant other.

Uniqueness

The quality of being one of a kind or unlike anything else, often valued for standing out from the norm.

Transgressions

Acts that go against a law, rule, or code of conduct; violations.

Self-Image

An individual's conception of themselves or their identity.