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3 years ago

What is the purpose of life insurance? do you think everyone needs life insurance? explain?

2 answers:

6 0

The purpose of life insurance is to create an estate with a lump some of money when it is needed. Life insurance death benefits provide tax free money to be used after a family member or business owner dies.

Not everyone needs life insurance because not everyone has liabilities at death. In other words, life insurance is primarily used to pay off debts when someone passes away. If an individual has no debts or expenses, then they would not need to have life insurance.

mars1129 [50]3 years ago

5 0

The purpose of life insurance is to deter some of the costs associated with debt and death. For example, someone may die with 20,000 dollars in credit card debt. On top of that, the cost of funeral and other death related expenses may be 15,000 dollars. So this persons family may be left to come up with 35,000 dollars in money to cover the deads expenses. Most people cannot afford this. This is the value of life insurance. I do feel like everyone should have life insurance, but most people think they cannot afford it.

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Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following

MrRa [10]

Answer:

$\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]$

Explanation:

We mulitply each line by the stated percent of each activity

for example

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

6 0

3 years ago

Pearl Corporation issued 1,700 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the

arlik [135]

Answer:

Solution as seen below

Explanation:

Bond = 1,700 × $1,000 × 98%

= $1,666,000

Allocation :

Issue price $1,751,000

(1,700 × $1,000 × 103%)

Bonds ( $1,666,000 )

Warrants $85,000

($1,751,000 - $1,666,000)

Bond face value $1,700,000

(1,700 × $1,000)

Allocated FMV ($1,666,000)

Discounts $34,000

($1,700,000 - $1,666,000)

7 0

3 years ago

Which pair of accounts follows the rules of debits and credits in relation to increases and decreases in the opposite manner? ca

stiks02 [169]

Which pair of accounts follows the rules of debits and credits in relation to increases and decreases in the opposite manner? Salaries Expenses and Unearned Revenue. The Salaries Expense report shows the salaries that employees have been paid during a set period that is listed on the income statement. The Unearned Revenue account shows the amount of money a company has earned in advanced for providing goods or services. Employees can also be paid in advance but then owe the good or service to the company or provider.

3 0

4 years ago

Pwease help me. I need so much help

gizmo_the_mogwai [7]

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5 0

3 years ago

Read 2 more answers

In 1880 five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notoriou

SSSSS [86.1K]

Answer: If interest rate was 4%= $180.09. If interest rate was 8%= $317.22

Explanation:

Assuming that the aboriginal trackers were promised the $100 at the beginning of the year 1880 and the claim was also made at the beginning of the year 1995.

Number of years from 1880-1995 = 15 years

If the interest rate was 4%

= 100*(1+4%)^15

= $180.09

If the interest rate was 8%

= 100*(1+8%)^15

= $317.22

7 0

3 years ago

What is the purpose of life​ insurance? do you think everyone needs life​ insurance? explain?

What is the purpose of life insurance? do you think everyone needs life insurance? explain?