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4 years ago

The primary reason for buying life insurance is to obtain a high-quality investment.

1 answer:

5 0

The answer is false. The true reason is because if a dead love one dies, they will discount your pay for a funereal.

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At the beginning of the year, a company's balance sheet reported the following balances: Total Assets = $225,000; Total Liabilit

uysha [10]

Answer:

correct option is d. $96,000

Explanation:

given data

Total Assets = $225,000

Total Liabilities = $100,000

Common Stock, $25,000

Retained Earnings = $100,000

to find out

balance in the retained earnings account at the end of the year

solution

we apply here equation of Retained earnings Ending balance that is

Retained earnings Ending balance = Retained earnings Beginning balance + Net income - Dividends .........................1

and we know that net income is here

Retained earnings Ending balance = Retained earnings Beginning balance + (Revenues - Expenses) - Dividends

so put here value

Retained earnings Ending balance = 100,000 + (46,000 - $30,000)-20,000

Retained earnings Ending balance will be = 100,000 + 16,000 - $20,000

Retained earnings Ending balance is = $96,000

so correct option is d. $96,000

3 0

3 years ago

Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $25,000. The estimated useful life was

tatiyna

Answer:

The correct answer is Double-declining-balance. The highest net income in year 2 is 6000.

This higher net income don´t mean the machine was used more efficiently under this depreciation method.

Explanation:

In the file attached you will find a depreciation schedule for each of the alternative methods.

Each method need different calculus.

Straight-line

depreciation expense=(Original Value -Residual Value)/Useful life=

depreciation expense=4400

Units-of-production

estimated productive life 10000

Units of Production Rate=(Original Value -Residual Value)/estimated productive life=2,2

Double-declining-balance.

Depreciation rate = 1/useful life *100= 20,00%

Download xlsx

4 0

3 years ago

Beef Burgers, Inc. contracts to buy five hundred steers from Fattening Feedlots. Before Fattening Feedlots can deliver the stee

svlad2 [7]

In this case the perfect tender rule

b. does not apply.

Explanation:

The perfect tender rule has certain exceptions where it cannot be applied to the tender parties and the probates of the tender.

If there is a government ruling against the use of certain products that are necessary for the tender to be completed and the outlaw happens after the tender is signed but before it is completed as a consignment then it cannot be done.

This would come under the ambit of an emergency where the governed ruling makes such deals null and void.

3 0

3 years ago

A brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example

Vadim26 [7]

Answer:

A party wall

Explanation:

A party wall

A Party wall which sometimes also called a parting wall is referred to that wall which is used or shared by both property owners. The purpose of this wall is to separate the two adjoining owners, therefore, thickness varies from 9 to 12 inches. Party wall agreement need to signed between both sharing owners to make any repair work on the party wall.

4 0

4 years ago

Imperial Jewelers manufactures and sells a gold bracelet for $403.00. The company’s accounting system says that the unit product

AysviL [449]

Answer:

a) Financial advantage  $2,208 

b) The company should accept the special order, as it will increase its profit by $2,208

Explanation:

The relevant costs for decision to accept the special order are

I Incremental Revenue from the special order

2. incremental variable cost

3. The cost of the special tool

Unit variable cost = 143 + 90 + 8 + 7 = $240

Note that that the increase in material cost of $8 and the variable manufacturing overhead of $7 are relevant to the special order decision. Hence they are added.

And the balance of manufacturing overhead would be incurred either way. Therefore , they are not relevant for the decision

Sales revenue from special order

(22× $361.00) 7942

Variable cost of special order

(22× $240 ) (5280 )

Cost of special tool (454)

Financial advantage  2,208 

The company should accept the special order, as it will increase its profit by $2,208

3 0

3 years ago