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BigorU [14]
3 years ago
9

In the event a policy is delivered by an agent to the insured, and the premium payment is to be collected at the time of this de

livery, normally what else must the agent obtain to make the delivery complete
Business
1 answer:
iren2701 [21]3 years ago
8 0

Answer:The answer is D

Explanation:

insurance agent are the intermediary who arrange insurance between the insurance company known as the insurer and the the policy holder known as the insured. The agent can be employed by the insurance company either on full time basis or on part time basis to act as intermediary between them and the insured. When they are employed as a full time agent they are paid salaries and they are regarded as full time staff of the insurance company, but when they are employed on part time basis they are paid commission based on the value of the business they contracted. The agent are used by the insurance company to deliver policy to the insured who took the policy.

When the agent deliver the policy to the insured, the agent will collect from the insured a statement of good health to show that the insured is in good health at the time of taken the policy.

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Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2017. The sales price includes an insta
arlik [135]

Answer:

Explanation:

a. The journal entries are shown below:

Accounts receivable A/c Dr $410,000

            To Sales revenue A/c $370,000

            To Unearned service revenue A/c $40,000

(Being the sale is recorded)

Cost of goods sold A/c Dr $300,000

          To Merchandise inventory A/c $300,000

(Being inventory is sold at cost)

b.  The recognized revenue would be

Sales revenue $370,000

Service revenue $20,000

Total revenue $390,000

The service revenue would be

= $40,000 × 3 months ÷ 6 months

= $20,000

And, the 3 months is computed from January 2 to March 31

5 0
3 years ago
Finding out how a product or service will do in a certain market is an example of this use of market research: identify if commu
Veseljchak [2.6K]

Answer:

identify value

Explanation:

Finding out how a product or service will do in a certain market is an example of this "IDENTIFY VALUE" market research. This will help the producers understand and know what the consumers want and the degree of value they placed on their products.

identify if communications are effective is used determine who the consumers are and the type of media preferred.

identify if consumer needs are being met is used to determine what customers like or dislike about a product or service.

identify threats and investigate the competition is used to determine changes in consumer preferences and competition

8 0
3 years ago
Rayya company purchases a machine for $105000 on january 1, 2019. Straight-line depreciation is taken each year for four years a
klio [65]

Answer:

                      Journal entry For Depreciation

Date        Account and explanation            Debit    Credit

July 1 Depreciation expense                 $7,500

                (105000/7)*6/12

                       Accumulated depreciation-Machine   $7,500

                 (To record Depreciation)

1)                     Journal entry

Date        Account and explanation                      Debit     Credit

July 1        Cash                                                     $45,500

                Accumulated depreciation-Machine  $67,500  

                        Machine                                                         $105,000

                        Gain on Sale of Machine                              $8,000

                (To record sale of Machine)  

2)                                 Journal entry

Date         Account and explanation                       Debit       Credit

July 1         Cash                                                      $25,000

                 Accumulated depreciation-Machine  $67,500

                  (105000/7*4.5)

                 Loss on sale of machine                      $12,500

                         Machine                                                            $105,000

                 (To record sale of Machine)

6 0
3 years ago
Evelyn, who owns and operates Eve's Farm & Garden Company, agrees to sell Hill & Dale Produce, Inc., fifty bushels of ap
IrinaK [193]

Answer:

The answer is: A) breached

Explanation:

Evelyn breached her contract with Hill & Dale because she failed to perform her duties. In order for the contract to end, both parties must fulfill their duties or both parties must agree to cancel the contract. Any party involved in a contract can sue for damages, so Hill & Dale are entitled to sue Evelyn for compensatory damages.

5 0
3 years ago
Culver Corporation purchased machinery on January 1, 2022, at a cost of $288,000. The estimated useful life of the machinery is
Katarina [22]

Answer:

Please Kindly check the attach picture, the full working is there.

Explanation:

6 0
3 years ago
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