Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $14,000 and unexpired insurance of $3,000, for the fiscal year ending on April 30? Group of answer choices

debit Prepaid Insurance, $11,000; credit Insurance Expense, $11,000

debit Insurance Expense, $3,000; credit Prepaid Insurance, $3,000

debit Insurance Expense, $11,000; credit Prepaid Insurance, $11,000

debit Insurance Expense, $14,000; credit Prepaid Insurance, $14,000

Which is not an example of a cyclical company? a) airlines b) hotel industry c) medical d) theme parks

If the demand for a pair of shoes is given by 2p + 5q = 200 and the supply function for it is p − 2q = 10, compare the quantity demanded and the quantity supplied when the price is $90. quantity demanded pairs of shoes quantity supplied pairs of shoes will there be a surplus or shortfall at this price? there will be a surplus. there will be a shortfall.

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.