What type of life insurance are credit policies issued as?

Wright Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs. The carrying va

Nady [450]

Answer:

the total amount owed to general unsecured creditors is $71,000

Explanation:

The computation of the total amount owed to general unsecured creditors is shown below:

= Account payable + wages payable + taxes payable + interest on note payable + interest on bond payable

= $40,000 + $6,000 + $12,000 + $5,000 + $8,000

= $71,000

hence, the total amount owed to general unsecured creditors is $71,000

The same is to be considered

3 0

2 years ago

Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that throu

FromTheMoon [43]

Answer:

A. $7,275,000

B. $436,500

C. YES

Explanation:

A. Calculation for how many dollars will the cash management system free up

First step is to calculate for Additional collections

Using this formula

Additional collections=Daily collections× Numbers of days to speed up

Let plug in the formula

Additional collections= $2,250,000 million per day × 3 days speed up

Additional collections=$6,750,000

Second step is to calculate for delayed disbursements using this formula

Delayed disbursements= Daily disbursement × Numbers of Days for slow down

Let plug in the formula

Delayed disbursements= $1,050,000 million per day ×0.5

Delayed disbursements= 525,000

Last step is to calculate for the freed up fund using this formula

Freed up fund=Additional collections+Delayed disbursements

Let plug in the formula

Freed up fund=$6,750,000 + 525,000

Freed up fund=$7,275,000

Therefore the amount of dollars that the cash management system will free up is $7,275,000

B. Calculation for how much will the income be using this formula

Income =Freed up fund× Interest rate

Let plug in the formula

Income=$7,275,000×6%

Income=$436,500

Therefore the income amount will be $436,500

C. YES it should be implemented reason be that the income amount of $436,500 is $36,500 ($435,600- $400,000) higher than New system total cost of the amount of $400,000

3 0

2 years ago

Eight-year-old Ella can use scissors to cut small paper dolls out of craft paper, something she could not do at age three. What

Romashka [77]

Answer: Increased myelination of the central nervous system

Explanation: skill in performing tasks, especially with the hands is what is known as dexterity. According to the question Eight-year-old Ella can use scissors to cut small paper dolls out of craft paper, something she could not do at age three was due to her Increased myelination of the central nervous system. Her dexterity has improved, Myelin has enabled her nerve cells to transmit information faster and allows for more complex brain processes

3 0

3 years ago

On March 1, 2022, Cullumber Company acquired real estate, on which it planned to construct a small office building, by paying $8

11111nata11111 [884]

Answer:

$101,200

Explanation:

the cost of land = purchase price of the land + razing expenses - sales of salvaged materials + attorney's fees + broker's fees = $86,000 + $9,700 - $4,400 + $1,500 + $8,400 = $101,200

The cost of the driveways and parking lot are recorded separately (as land improvements), not under cost of land because they can be depreciated.

Architect's fees are generally included in the construction costs of the building, not in the land cost. The architect's fees are covered before the construction starts because you need the blueprints in order to start the construction.

6 0

3 years ago

On january 3, 2013, persoff corporation acquired all of the outstanding voting stock of sea cliff, inc. In exchange for $6,000,0

konstantin123 [22]

Answer:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

Explanation:

Because the data is not completely provided a general idea is provided here:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

3 0

2 years ago