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3 years ago

Jan pays $70 each month for her auto insurance policy. This regular payment is called a.

1 answer:

8 0

Jan pays $70 each month for her auto insurance policy. This regular payment is called PREMIUM.

Premium is the payment made by the insured party to the insurer. It primary pays the insurer for bearing the risk of payout in the event that the insurance agreement coverage is needed. Premium payment may be monthly, quarterly, semi-annually, or annually.

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For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Peacock is c

irina [24]

Answer: The Demand should be in elastic

Explanation:

Peacock hotel rooms are a normal good and they have a negative price elasticity of demand, meaning a decrease in price of hotel rooms per night will increase quantity of hotels rooms demanded for Peacock.

Peacock is considering decreasing Prices to $ 175 per unit, for this decrease in Prices to lead to a decrease in total revenue, The demand for Peacock hotel rooms should be inelastic. When the demand for Peacock hotel rooms is inelastic a decrease in price to $ 175 will lead to a small change in the quantity of hotel rooms demanded for Peacock which will then lead to a decrease in Total Revenue.

5 0

3 years ago

Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system and the LIFO cost

sammy [17]

Answer:

a) ending inventory: 11,850,000

cost of goods sold: 25,200,000

gross profit 25,200,000

ending inventory: 1,800,000

cost of goods sold: 23,100,000

gross profit 50,400,000 - 23,100,000 = 27,300,000

Explanation:

5,200 at $600

4,100 at $700

6,200 at $800

purchase 29,000 at $900

-sold 28,000 grills

As we use LIFO we sale from the last purchase thus, 29,000 - 28,000 = 1,000 of this units are added as another layer for the inventory account

ending inventory

5,200 at $ 600

4,100 at $ 700

6,200 at $ 800

1,000 at $ 900

Total $ 11,850,000

cost of good sold:

28,000 x $900 = $25,200,000

sales revenue

28,000 x 900 x 200% = $50,400,000

gross profit sales revenue less COGS

b) 5,200 at $600

4,100 at $700

6,200 at $800

purchase 15,500 at $900

-sold 28,000 grills

we check how many layer deep we go:

28,000 - 15,500 at 900= 12,500

12,500 - 6,200 at 800= 6,300

6,300 - 4,100 at 700 = 2,200 at 600

Ending Inventory

3,000 at $600 = $ 1,800,000

COGS:

15,500 x 900 + 6,200 x 800 + 4,100 x 700 + 2,200 x 600 = 23,100,000

3 0

3 years ago

The Age Discrimination in Employment Act prohibits employment discrimination on the basis of age against individuals up to forty

stiks02 [169]

True, Age Discrimination in Employment Act (ADEA) forbids age discrimination against people who are age 40 or older.

It does not protect workers under the age of 40, although some states have laws that protect younger workers from age discrimination.
These legislation collectively changed the workplace by removing obstacles to opportunity and establishing a foundation of fairness and equality.
Congress acknowledged that age discrimination was mostly brought on by erroneous beliefs that ability was impaired by age when it passed the ADEA.
Direct and indirect age discrimination are two of the most prevalent forms of this practice.

What is the Age Discrimination Act of 1978?

Age-based discrimination against older workers in hiring, firing, layoffs, compensation, and other working conditions is illegal under the federal Age Discrimination in Employment Act (ADEA).
Most employees 40 and older who work for companies with 20 or more employees are covered by the statute.

Learn more about the Age Discrimination Act of 1978 brainly.com/question/15287392

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8 0

2 years ago

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts ex

Gnom [1K]

Answer:

The adjusting entry which is to be recorded is shown below:

Explanation:

The adjusting entry which is to be recorded is as:

Bad Debt Expense A/c..................................... Dr $14,740

Allowance for Doubtful Accounts A/c...............Cr $14,740

As the company records the bad debt expense at the end of the present year

Working Note:

As the company used the percent of receivables sales

Amount = Accounts receivables × Percentage of ending receivable

= $446,000 × 3.0%

= $13,380

Bad debt expense amount = Amount - Debit balance of allowance for doubtful accounts

= $13,380 + $1,360

= $14,740

5 0

3 years ago

In 1959, a limited partnership (Pacific International Fisheries) was formed. Nelson was the general partner, and Lieberman and M

Mariulka [41]

Answer:

No. Lieberman and Winkleman aren't entitled to recover anything from insurer.

Explanation:

Lieberman and Winkleman being limited partners can't sue on the behalf of the company because they aren't considered by law a proper party that has the power to institute a sue. Ship was purchased by the company to which General partner has all the power, and for the recovery of damages of ship, only Nelson can institute a lawsuit as him being a general manager. Since lieberman and winkleman have limited partnership interest they can't sue insurer(Atlantic mutual ins. Co.).

7 0

3 years ago