Students who begin college not knowing what they want to study is a____

What things does homeowners insurance cover

miv72 [106K]

What's covered; what's not. A homeowners insurance policy can cover damage caused by such perils as fire, windstorms, hail, lightning and vandalism. Typically, damage caused by floods and earthquakes are excluded. Optional coverages and policies may be available to cover damage due to additional perils.

5 0

4 years ago

ACME Drilling is evaluating an offshore oil-drilling platform for possible impairment. The company estimates the following: book

alekssr [168]

Answer:

ACME Drilling should record impairment loss of $6.9 million

Explanation:

According to GAAP, when the fair value of an asset is below the net carrying amount of that asset ( Asset's historical cost - Asset's accumulated depreciation or the net book value of the asset), the Company should record it as asset impairment loss.

In ACME's case, the net book value is $18.6 million while the estimated fair value is only $11.7 million meaning that the platform is actually worth less than it is recorded on ACME's book. Thus, an impairment loss of $6.9 million should be recorded ( $18.6 million - $11.7 million) to realize the fair value of the oil-drilling platform.

The sum of projected sum of future cash flows in this case is not suitable to be used to determine the oil-drilling platform because it has not been discounted to the present value amount, and also, it is not appropriate under GAAP.

6 0

4 years ago

Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9

jasenka [17]

Answer:

Accounts receivable for 2019 = $590,000

Accounts receivable for 2018 = $570,000

Explanation:

The computation of accounts receivable for both years is shown below:-

2019 2018

Sales $7,906,000 $6,726,000

Accounts receivable

Beginning balance $600,000 $540,000

Ending balance $580,000 $600,000

Accounts receivable $590,000 $570,000

Working note:-

Average Accounts receivable for 2019 = ($600,000 + $580,000) ÷ 2

= $590,000

Average Accounts receivable for 2018 = ($540,000 + $600,000) ÷ 2

= $570,000

7 0

4 years ago

Assume that an investment in bonds classified as trading securities is sold. Which of the following would be included in the two

worty [1.4K]

Answer:

An update of the fair value adjustment account,

Removal of the related investment account balances

The total amount of gain or loss that has occurred since the securities were purchased

Explanation:

The activities that occurred between the purchase and during the sales of bonds classified as trading securities will determine the entries to be recorded.

First, since it was an investment, it means, it had an entry already in the books. Its sales therefore, will mean the books needs to be updated and this will be done through the Fair value adjustment account.

Secondly in updating the fair value, there is the need to remove the related investment account balance. This is because the investment has been sold so it should not be reflected any more.

Thirdly, since the investment was bought at a point, carried for a while and then eventually sold, some gain or loss would have been generated between its acquisition and its sales, therefore the entry for total amount of gain or loss that occurred since the purchase should be made.

Part 4

The items such as the

4 0

3 years ago

3. The one-year interest rate over the next 10 years will be 3%, 4.5%, 6%, 7.5%, 9%, 10.5%, 13%, 14.5%, 16%, and 17.5%. Using th

ZanzabumX [31]

Answer:

Expectation theory predicts the short-term interest rates by taking average of current-interest rates over a period of time. The interest rates for the following securities using the expectation theory would be:

Interest rate on 3 year bond = $\frac{3+4.5+6}{3}$ = 4.5%

Interest rate on 6 year bond = $\frac{3+4.5+6+7.5+9+10.5}{6}$ = 6.75%

Interest rate on 9 year bond = $\frac{ 3+4.5+6+7.5+9+10.5+13+14.5+16}{9}$ = 9.33%

8 0

4 years ago

Students who begin college not knowing what they want to study is a_____.