When her salespeople bring in five new customers, marissa gives them a $1,000 payment. this is an example of a?

A commercial building worth $400,000 is insured under a Commercial Property policy for $240,000, and an 80% coinsurance clause a

Mekhanik [1.2K]

Answer: $15,000

Explanation: The 80% coinsurance clause on the property means that the insurance policy holder is agreeing to contribute up to 80% of the property's worth. Hence in the event of a loss to the building worth $20,000; the insures policyholder would receive :

(Actual contribution/expected contribution) x value of loss to the property

Where : Expected contribution = 80% of property's worth

ie (80/100) x $400,000 = $320,000

then the insured is to receive: ($240,000/$320,000) x $20,000 = $15,000

4 0

3 years ago

Differentiate between the auditor and financial manager

Radda [10]

Answer:

hope the images above answer your question.

Explanation:

Hope this helps!

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3 0

2 years ago

One probable reason that the Constitution's framers included very strong wording protecting private property and contracts was _

kykrilka [37]

Answer: ...they were invested and had to protect their own wealth.

Explanation:

The constitution's framers of America were founding fathers and visionaries. They designed the America's constitution to endure times and to stand the pressures of being a new country. They also aimed at addressing not only the specific challenges facing the nation during their lifetimes, but they also tried to establish the foundational principles that would lead and guide the young nation into an uncertain future of our days.

7 0

3 years ago

Silk Company issued $500,000 of 7%, 10-year bonds on one of its interest dates for $431,850 to yield an effective annual rate of

Rudiy27

Answer:

interest expense 38,866.5 debit

discount on bond payable 3,866.5 credit

cash 35,000 credit

Explanation:

The effective method calculates the interest expense considering the carrying value and the market rate. Then, the difference with the coupon payment is amortization of the premium or discount

carrying value (issued price of the bonds) 431,850

market rate: 9%

interest expense: 431,850 x 9% = 38,866.5

coupon payment 500,000 x 7% = 35,000

this is the cash outlay for the bonds

Difference: 38,866.5 - 35,000 = 3,866.5

As the proceeds are lower than face value, this is a discount.

5 0

3 years ago

Which of the following is the correct order for the preparation of the listed budgets? A) Budgeted income statement, sales budge

konstantin123 [22]

Answer:

The correct option is C,sales budget, direct material purchases budget, budgeted income statement

Explanation:

Te correct order in preparing budgets is to first of all have a sales forecast based on information on previous years' sales figures as well as looking at the future economic outlook.

When sales forecasts are made based on educated guess,the sales budget is prepared using the most appropriate selling price per unit.

Thereafter,based on the number of units planned for sales,the required materials needed to accomplish the sales level is forecast,hence direct material purchases budget is prepared with informed unit cost of material.

Lastly,the income statement which encompasses both revenue from sales budget in addition to costs from direct materials purchase budget is finalized.

8 0

3 years ago