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Required information [The following information applies to the questions displayed below.]A + T Williamson Company is making adjusting entries for the year ended December 31 of the current year. In developing information for the adjusting entries, the accountant learned the following: A two-year insurance premium of $6,960 was paid on October 1 of the current year for coverage beginning on that date. The bookkeeper debited the full amount to Prepaid Insurance on October 1. At December 31 of the current year, the following data relating to Shipping Supplies were obtained from the records and supporting documents.Shipping supplies on hand, January 1 of the current year Purchases of shipping supplies during the current year Shipping supplies on hand, counted on December 31 of the current year 20 Required: 1. Record the adjusting entry for insurance at December 31 of the current year. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Required information Journal entry worksheet Record the adjusting journal entry for insurance premium of $4,800 on December 31 of the current year. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. What amount should be reported on the current year's income statement for Insurance Expense? For Shipping Supplies Expense? (Do not round intermediate calculations.) Insurance expense Shipping supplies expense 3. What amount should be reported on the current year's balance sheet for Prepaid Insurance? For Shipping Supplies? (Do not round intermediate calculations.) Prepaid insurance Shipping supplies
Read the following excerpt from Narrative of the Life of Fredrick Douglass, by Fredrick Douglass and answer the question that follows.The plan which I adopted, and the one by which I was most successful, was that of making friends of all the little white boys whom I met in the street. As many of these as I could, I converted into teachers. With their kindly aid, obtained at different times and in different places, I finally succeeded in learning to read. When I was sent of errands, I always took my book with me, and by doing one part of my errand quickly, I found time to get a lesson before my return. I used also to carry bread with me, enough of which was always in the house, and to which I was always welcome; for I was much better off in this regard than many of the poor white children in our neighborhood. This bread I used to bestow upon the hungry little urchins, who, in return, would give me that more valuable bread of knowledge. I am strongly tempted to give the names of two or three of those little boys, as a testimonial of the gratitude and affection I bear them; but prudence forbids;not that it would injure me, but it might embarrass them; for it is almost an unpardonable offence to teach slaves to read in this Christian country.Which of the following best summarizes the passages?The white boys in his neighborhood taught him to read in exchange for pieces of bread.It was against the rules to teach slaves to read in white Christian country.Frederick Douglass was wealthy while the white boys were poor.Frederick Douglass couldnt go to school because he had too many errands to do.