What is the proper adjusting entry on December 31, the end of the accounting period, if the balance in the prepaid insurance account is $8,150 before adjustment, and the unexpired amount per the analysis of policies is $3,450?

A. Debit Insurance Expense, $8,150; credit Prepaid Insurance, $8,150.
B. Debit Prepaid Insurance, $4,700; credit Insurance Expense, $4,700.
C. Debit Insurance Expense, $3,450; credit Prepaid Insurance, $3,450.
D. Debit Insurance Expense, $4,700; credit Prepaid Insurance, $4,700.
E. Debit Cash, $8,150; Credit Prepaid Insurance, $8,150.

The proper adjusting entry on December 31 is, D. Debit Insurance Expense, $4,700; credit Prepaid Insurance, $4,700.

Explanation:

The entry of prepaid insurance made earlier was $8,150 and on December 31, it was calculated that the unexpired amount of insurance was $3,450. So first we will calculate the amount of prepaid insurance which has been expired,

$8,150 -  $3,450 = $4,700

To record the expired prepaid insurance, we will first debit prepaid insurance expense with $4,700 and then credit prepaid insurance with $4,700.

Prepaid Insurance is an asset and it will decrease by a credit of $4,700, so that the remaining balance in prepaid insurance account is $3,450 which is the remaining unexpired prepaid insurance.

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last,   city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.

i believe the answer would have to be a dependable person