On January 1, a company purchased a five-year insurance policy for $3,700 with coverage starting immediately. If the purchase was recorded in the Prepaid Insurance account, and the company records adjustments only at year-end, the adjusting entry at the end of the first year is:

a. debit Insurance Expense, $740; credit Prepaid Insurance $740
b. debit Prepaid Insurance, $3,700; credit Cash, $3,700
c. debit Prepaid Insurance, $2,960; credit Insurance Expense, $2,960
d. debit Insurance Expense, $740; credit Prepaid Insurance $2,960
e. debit Prepaid Insurance, $740; credit Insurance Expense, $740

Henry crouch's law office has traditionally ordered ink refills 7070 units at a time. the firm estimates that carrying cost is 4545% of the $1212 unit cost and that annual demand is about 245245 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal? its action would be optimal given an ordering cost of $nothing per order (round your response to two decimal place

While studying for the engineering economy final exam, you and two friends find yourselves craving a fresh pizza. you can't spare the time to pick up the pizza and must have it delivered. "pick-up-sticks" offers a 1-1/4-inch-thick (including toppings), 20-inch square pizza with your choice of two toppings for $15 plus 5% sales tax and a $1.50 delivery charge (no sales tax on delivery charge). "fred's" offers the round, deep-dish sasquatch, which is 20 inches in diameter. it is 1-3/4 inches thick, includes two toppings, and costs $17.25 plus 5% sales tax and free delivery. 1. what is the problem in this situation? state it in an explicit and precise manner. 2. systematically apply the seven principles of engineering economy (pp. 3-6) to the problem you have defined in part (a). 3. assuming that your common unit of measure is dollars (i.e., cost), what is the better value for getting a pizza based on the criterion of minimizing cost per unit of volume? 4. what other criteria might be used to select which pizza to purchase?

Renaldo scanlon is a financial consultant. he earns $30 per hour and works 32.5 hours a week. what is his straight-time pay?