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3 years ago

What is the advantage of reinstating a policy instead of applying for a new one?

1 answer:

4 0

The advantage of reinstating a policy than applying for a new one is that a reinstated policy in a policy premium are being set accordingly in which is usually based on the original age of the insured than. This is the advantage of it when reinstating than applying for a new one.

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Andrews Company accepted a note receivable from a credit customer who failed to pay their $2,000 Accounts Receivable balance. Th

Darina [25.2K]

Answer:

The journal entry which is to be recorded for the dishonored note is shown below:

Explanation:

The journal entry which is to be recorded for the dishonored note is as follows:

Accounts Receivable A/c..............................Dr $2,075

Notes Receivable A/c...................................Cr $2,000

Interest Revenue A/c......................................Cr $75

Being the note which is received got dishonored

As the note got dishonored so the accounts receivable account will be debited against the notes receivable account and the account of interest revenue is also credited.

Working Note:

Interest revenue = Amount of notes receivable × Rate × Months / Total number of months

= $2,000 ×5% × 9/12

= $75

6 0

4 years ago

Sid has decided to leave his $70,000-a-year landscape design job and open a new kayak business. his insurance cost is expected t

Karo-lina-s [1.5K]

Economic profit refers to the profit earned by deducting the implicit cost and the explicit cost from the total revenue.

Economic Profit = Total revenue - (Explicit cost + Impllicit Cost)

where Total Revenue = $100,000

Explicit Cost = $2000 + ($25000*10%) = $4500

Implicit Cost = $70000 + $10000 = $80000

Economic Profit = $100,000 - ($4,500 + $80,000)

Economic Profit = $100,000 - $84,500

Economic Profit = $15,500

Hence, Sid's Economic Profit is equal to $15,500

4 0

3 years ago

tyler smith founded a firm that has a subscription-based business model. although tyler has averaged 600 new subscribers per mon

Aliun [14]

The number of subscribers that Tyler loses each month is referred to as churn.

The churn drill is a large drilling machine that bores huge diameter holes in the ground. In mining, they were used to drill into the gentle carbonate rocks of lead and zinc-hosted regions to extract bulk samples of the ore. Churn drills are also referred to as percussion drills as they function by lifting and losing a heavy chisel-like bit which breaks the rock as it falls. Churn drills are handiest in smooth- to medium-density rock of incredibly shallow intensity

Churn drills had been invented as early as 221 BC in Qin dynasty China,[1] capable of accomplishing an intensity of 1500 m. Churn drills in ancient China were built of wood and exertion-intensive but had been able to go through strong rock.

learn more about Churn here: brainly.com/question/29218576

#SPJ4

5 0

2 years ago

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded

KengaRu [80]

Journal entries

Dr Allowance for uncollectible account $41,000

Cr Account Receivable $41,000

Dr Account receivable $3,600

Cr Allowance for uncollectible account $3,600

Dr Cash $3,600

Cr Account receivable $3,600

7 0

3 years ago

This is my mom channel please subscribe

timurjin [86]

You’re so sweet for promoting ur mom’s channel and I’ve subscribed :>

5 0

3 years ago