Ask question

Ask question

All categories

3 years ago

9

Your auto insurance policy has a 200 monthly premiumand a 700 deductible. what is the maximum you will have to pay out of pocket

for a car accident before your insurance covers your cost ?

1 answer:

Alexus [3.1K]3 years ago

4 0

$700 at any given time, but that is presuming that you have paid your monthly premiums every month without fail until the accident occurs.

You might be interested in

At the beginning of the recent period, there were 1,050 units of product in a department, 35% completed. These units were finish

White raven [17]

Answer:

Answer for the question:

At the beginning of the recent period, there were 1,050 units of product in a department, 35% completed. These units were finished and an additional 5,500 units were started and completed during the period. 1,000 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were__________.

Is given in the attachment.

Explanation:

3 0

3 years ago

Skysong, Inc. began the year 2022 with retained earnings of $670000. During the year, the company sold additional shares of stoc

vlada-n [284]

Answer:

$787,000.

Explanation:

Skysong, Inc. generated a profit of $248,000 (633,000 - 385,000) during the year 2022. This amount has a credit balance in income statement, closing it would require a debit to it and a credit entry to match the debit is made to Retained Earnings account which is an item of Statement of Owners' Equity. Statement of Owners' Equity is a report that represents the Equity section of balance and accounts for any changes in the owners' equity during a period. The items included in this statement are Capital, Paid-up Capital, Retained Earnings, and Drawings. To calculate the ending balance of Skysong's retained earnings, we have to prepare a statement of owners' equity.

Statement of Owners' Equity

<u>Capital</u> <u>Retained Earnings</u>

Opening Balance - $670,000

Additional Stock $1,005,000

Profit for the Year 248,000

Dividends Paid (131,000)

Closing Balance $1,005,000 787,000

⇒ Skysong's retained earnings will be reported at $787,000 at the end of 2022.

7 0

4 years ago

g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th

nikdorinn [45]

Answer:

Net Present value = -$40,221

Explanation:

The net present value is the sum of the discounted cash-flows over the life of the project from t=0 to t=n.

Year Cash-flow PVIF Present Value

0 (55,500) 1.0000 (55,500)

1 2,700 0.9091 2,455

2 2,700 0.8264 2,231

3 2,700 0.7513 2,029

3 11,400 0.7513 <u>8,565 </u>

Net Present value (40,221)

The salvage value is treated as a cash-flow at the end of year 3 as that's the last year in which the project records a cash inflow. In this question, a negative net present value implies that the project is not profitable, and should therefore not be undertaken.

6 0

3 years ago

A firm is selling two products, chairs and bar stools, each at $50 per unit. Chairs have a variable cost of $25, and bar stools

marishachu [46]

Answer:

Break-even point in dollars= $36,364

Explanation:

Giving the following information:

A firm is selling two products, chairs and bar stools, each at $50 per unit. Chairs have a variable cost of $25, and bar stools $20. The fixed cost for the firm is $20,000.

To calculate the break-even point in dollars for the firm, we need to use the following formula:

Break-even point (dollars)= Total fixed costs / [(weighted average selling price - weighted average variable expense)/ weighted average selling price]

weighted average selling price= (selling price* weighted sales participation)= $50

weighted average variable cost= (variable cost* weighted sales participation)

weighted average variable cost= (25*0.5 + 20*0.50)= $22.5

Break-even point in dollars= 20,000/ [(50 - 22.5)/ 50]= $36,364

4 0

3 years ago

If Joe transfers $1,000 from his savings account to his checking account and assuming that banks cannot lend this money, then:a.

hoa [83]

Answer:

C

Explanation:

Mi money are highly liquid financial assets like checking account , cash and traveler's check while the M2 money are not as liquid when compared to M1, Example is , in addition to M1, savings , money market fund and certificates of deposit.

This means that whatever that impacts M1 will also impact M2.

Therefore , the transfer of $1000 for savings account will increase M1 by $1000.

7 0

3 years ago