Mamma's Pizza is a locally owned pizzeria in your hometown. The owner has heard about your fascinating finance skills and needs your help finding a break even point. Assuming Mamma's Pizza sells each pizza for $10 and that the restaurant only sells pepperoni pizza (because why would you add any other toppings), the variable and fixed expenses per pizza are as follows. Fixed Costs Variable Costs General Labor $1,500 Flour $0.50 Rent $3,000 Yeast |$0.05 Insurance $200 Water $0.01 Advertising $500 Cheese $3.00 Utilities $450 Pepperoni |$2.00 What is the break even point in pizzas made and sold for the restaurant?

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.