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1 year ago

Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive?

Business

1 answer:

bezimeni [28]1 year ago

8 0

Nothing the payments will cease.

Payments:

For the balance of the annuitant's life, a straight or pure life annuity will provide a set sum of income. Regardless of the amount of unpaid principal, this payment will end at death. There are no compensation or refunds made to survivors.

The beneficiary will receive the amount placed into the plan or the cash value, whichever is larger, if the annuitant passes away before the payment term.

Banknotes and coins (cash), deposits, and credit on an account with a financial institution or a comparable entity that can be run using payment instruments are all considered means of payment.

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Sunland Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning

pantera1 [17]

Answer:

Sunland Co.

The calculation of the cost ratio should be based on cost and retail of $1,581,000 and $2,288,500 respectively.

Explanation:

a) Data and Calculations:

Cost Retail Cost to Retail Ratio

Beginning inventory $ 318,000 $494,000

Purchases 1,240,000 1,720,000

Freight-in 23,000 —

Employee discounts — 8,500

Net markups — 66,000

Goods available for sale $1,581,000 $2,288,500 69.08%

Less:

Net markdowns — 86,000

Sales revenue — 1,620,000

Estimated ending Inventory at retail $582,500

Estimated ending Inventory

at cost $402,391 ($582,500 * 69.08%)

Calculation of the cost ratio = $1,581,000/$2,288,500 * 100 = 69.08%

3 0

3 years ago

The net income reported on the income statement for the current year was $212000. Depreciation recorded on plant assets was $355

Fudgin [204]

Answer:

$226,900

Explanation:

Calculation to determine How much cash was provided by operating activities

Using this formula

Operating activities=Net income+Depreciation-Accounts receivable + inventories increased-Prepaid expenses - accounts payable decreased

Let plug in the formula

Operating activities=$212000 + $35500 - $2100 - $7900 + $1900 - $12500

Operating activities =$226,900

Therefore The Amount of cash that was provided by operating activities is $226,900

7 0

3 years ago

Adjusting entries are Select one: a. usually required before financial statements are prepared b. not necessary if the accountin

Flauer [41]

Answer:

Correct option is (a)

Explanation:

Adjusting journal entries are passed before financial statements are prepared to so as to confirm if revenue recognition and matching principles are complied with. Adjusting entries are required to be passed if transactions is spread over multiple financial periods. For example, adjusting entry is passed if goods are received this year but payment will be made next year.

Before income statement and balance sheet is prepared, these entries are passed. Thereafter, adjusting trial balance is prepared and finally financial statements are prepared.

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3 years ago

In communication, feedback is a

docker41 [41]

Feedback is when you give a person a thought of how they did something like if you read me a novel I would tell you what you need to improve and what I liked or disliked.

7 0

3 years ago

Read 2 more answers

Stadford, Inc. is financed with 40 percent debt and 60 percent equity. This mixture of debt and equity is referred to as the fir

miss Akunina [59]

Answer: (A) Capital structure

Explanation:

The capital structure is basically refers to the overall financial operation in an organization for the growth of the company. The combination of the debt and the equity is basically known as capital structure.

The equity is basically refers to the common and the preferred stock and the debt is one of the form of bond issue.

Therefore, the mixture of 40 percent debt and the 60 percent of the equity is refers to capital structure.

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3 years ago