The correct answer is $737 premium per year.
The steps to solving this problem is to first determine the amount of homeowner’s insurance that you need. It is specified that they are looking for a policy that is equal to 80% of the home’s replacement value. The value of the home is $312,500, so 80% of that is $250,000 (312,500 x .8).
Next, locate the row for $250,000 and then locate the Brick/Masonry section, which is the first one. Under that heading you will see the breakdown of different classes. The first column is for fire protection classes 1-6, which includes 4. So, your answer is in the first cell to the right of $250,000.
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The answer to the question is a form
If a company complies with government regulations, it incurs implementation costs. When a company decides to agree and follow new regulations, it will have to implement them into their organization. By implementing them, they are making changes within their organizations processes and therefor having costs associated with the changes.
Answer:
Explanation:
The journal entry is shown below:
1. Cash A/c Dr $20,000 (1,000 shares × $20)
To Common Stock $1,000 (1,000 shares × $1)
To Additional Paid-in Capital in excess of par - Common Stock $19,000
(The issuance of the shares is reported and the amount remaining is credited to the additional paid-in capital account)
In the case of no par value stock, the journal entry would be
Cash A/c Dr $20,000 (1,000 shares × $20)
To Common Stock A/c $20,000
(Being the issuance of the shares is recorded)
