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Radda [10]
3 years ago
9

Which type of auto coverage is required by nearly every state in the country?

Business
1 answer:
Serjik [45]3 years ago
3 0

Answer:

liability coverage

Explanation:

it is the standard

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Michael Barry, Attorney, P.C. began the year with total assets of $126,000, liabilities of $74,000, and stockholders’ equity of
goldenfox [79]

Answer:

The expenses can be recorded as follows;

Debit to the expenses of $33,000 and a credit to the cash account of $33,000.

Explanation:

The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.

In the case of Michael Barry, the accounting equation;

Assets=liabilities+stockholders equity

Assets=$126,000

Liabilities=$74,000

Stockholders equity=$52,000

liabilities+stockholders equity=74,000+52,000=$126,000

The assets equals the sum of the liabilities and stockholders equity.

To record expenses paid of $33,000;

                            Debit           Credit

Expenses          $33,000

Cash                                       $33,000

3 0
3 years ago
Chelsea, Inc. uses the job costing method and uses direct labor hours as the allocation base. In 2016, the total estimated and a
REY [17]

Answer:

3. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job

Explanation:

3. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job

The predetermined overhead rate is used to apply manufacturing overhead costs to production jobs. the quantity of a cost driver required by a particular job is multiplied by a predetermined overhead rate to determine the amount of overhead cost applied to the job.

An estimate is made of

  1. the amount of manufacturing over head that will be incurred during a specific period of time and
  2. the amount of the cost driver ( or activity base) that will be used or incurred during the same time period. the predetermined overhead rate is computed as follows

Predetermined Overhead Rate= Budgeted Manufacturing Overhead Cost/ Budgeted amount of cost driver

The predetermined overhead rate is used to apply manufacturing overhead costs to production jobs. The quantity of the cost driver ( or activity base ) required by a particular job is multiplied by the predetermined overhead rate to determine the amount of overhead cost applied to the job.

6 0
3 years ago
Choose the correct choice; At the current price level, producers supply $375 billion of final goods and services while consumers
Solnce55 [7]

Answer:

The price level is A) Above equilibrium.

Explanation:

Normally, every economist believe that a lower price attracts a higher demand. This is so when the behaviour of consumers are measured when choosing a product.  Many consumers go for a low priced product or cheaper product over a high priced product or expensive product irrespective of quality, taste or satisfaction derived from consuming them.

Price relating to market or in terms of quantity demanded and quantity supplied is referred to as equilibrium price or equilibrium quantity. When the market price is below equilibrium, quantity supplied of a product will be less than the quantity demanded for it because the price of goods are cheaper. But when price is above equilibrium, quantity supplied will be greater than quantity demanded because the price of goods is high.

7 0
2 years ago
The annual average CPI for 2016 was 240.5. If the CPI for 2010 was 218.1, then what was the inflation rate for the years 2010-20
aksik [14]

Answer: 9.31%

Explanation:

The Consumer Price Index (CPI) is able to check the price change per year by pricing a fixed basket of goods in different years. It can be used to calculate inflation with the formula;

Inflation rate = (CPI target year - CPI base year / CPI base year) *100

= \frac{240.5-218.1}{218.1} * 100%

=9.31%

8 0
3 years ago
Which best describes what happens to the amount of a good or service that is supplied to consumers? The amount of a good or serv
Debora [2.8K]

The amount of a service cannot change. But the quality of a service can change positively or negatively

3 0
3 years ago
Read 2 more answers
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