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On July 31,2020, $ 3 600 is paid for a one-year insurance policy. On December 31,2020, the adjusting entry for prepaid insurance would include ().

A debit to Insurance Expense, $ 3 600×
B. A credit to Prepaid Insurance, $3 600
C. A credit to Prepaid Insurance, $2 100
D. A debit to Insurance Expense, $ 1 500

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During 2020, A company incurred salary expense of $ 240 000. Beginning and ending Salary Payable was $ 4 000 and $ 8 000 , respectively. In 2020, A company paid salaries of ().

A. $ 248 000
B. $ 240 000
C. $ 236 000
D. $ 244 000

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Indicate all of the following statements that correctly describe net income. Net income ().

A. is equal to revenue minus expenses
B. is equal to revenue minus the sum of expenses and dividends
C. increases owners' equity
D. is reported by a company for a specific period of time

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Identify all correct answers. Distribution of cash dividends ().

A. decrease owners' equity
B. decrease net income
C. are recorded by debiting the Dividend Payable Account
D. are business expenses

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The accounting reporting period agrees to the calendar year.

A. 对
B. 错

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On July 31,2020, $ 3 600 is paid for a one-year insurance policy. On December 31,2020, the adjusting entry for prepaid insurance would include ().

A debit to Insurance Expense, $ 3 600× B. A credit to Prepaid Insurance, $3 600 C. A credit to Prepaid Insurance, $2 100 D. A debit to Insurance Expense, $ 1 500

During 2020, A company incurred salary expense of $ 240 000. Beginning and ending Salary Payable was $ 4 000 and $ 8 000 , respectively. In 2020, A company paid salaries of ().

Indicate all of the following statements that correctly describe net income. Net income ().

Identify all correct answers. Distribution of cash dividends ().

The accounting reporting period agrees to the calendar year.

A debit to Insurance Expense, $ 3 600×
B. A credit to Prepaid Insurance, $3 600
C. A credit to Prepaid Insurance, $2 100
D. A debit to Insurance Expense, $ 1 500