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GalinKa [24]
3 years ago
11

Stan and Heidi are married and both have careers in business. If one of the two were todie, there would be a sudden drop in inco

me. To provide protection from this risk the couple should purchase: A. disability insurance.B. life insurance.C. health insurance.D. car insurance.
Business
1 answer:
alex41 [277]3 years ago
4 0

Answer:

Life insurance.

Explanation:

Life insurance is defined as a contract that is raised between an individual and an insurance company that guarantees the payment of a particular amount tonthe individual's beneficiary in the case of death. The insurance policy requires premium to be paid on agreed intervals.

Stan and Heidi are both having caterers in business, and death of one of them will lead to decreased income.

To guard against this the couple can purchase a life insurance that will pay beneficiary a guaranteed sum in case of death of one of the partners.

This will ensure there is no sudden drop in their income.

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The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation.
Maurinko [17]

Answer:

Vosburgh Electronics Corporation

Classified Balance Sheet

As of December 31, 2021:

Assets

Current Assets:

Cash                                           $67,000

Short-term investments             182,000

Accounts receivable                  123,000  

Allowance for uncollectible         (8,000)

Inventory                                    215,000

Receivables from employees    40,000

Notes receivable (short-term)   67,000

Interest receivable                     12,000

Prepaid expenses (for 2022)    16,000

Total current liabilities                                 $714,000

Long-term Assets:

Land                                         280,000

Building                                 1,550,000

Accumulated depreciation    (620,000)  

Equipment                               637,000

Accumulated depreciation    (210,000)

Patent (net)                              152,000

Franchise (net)                         40,000

Notes receivable                    183,000

Long-term investments          35,000

Total long-term assets                             $2,047,000

Total assets                                               $2,761,000

Liabilities + Equity:

Liabilities

Current Liabilities:

Accounts payable                                     $189,000

Dividends payable (payable on 1/16/2022) 10,000

Interest payable                                            16,000

Income taxes payable                                 40,000

Deferred revenue                                       48,000

Total current liabilities                                                $303,000

Long-term liabilities:

Deferred revenue                                        12,000  

Notes payable                                           300,000

Total Long-term liabilities                                          $312,000

Total Liabilities                                                           $615,000

Equity:

Common stock, 1.4 million authorized

670,000 shares issued & outstanding 2,000,000

Retained earnings                                      146,000

Total Equity                                                            $2,146,000

Total liabilities + equity                                          $2,761,000

Explanation:

a) Data and Calculations:

Account Title                              Debits        Credits

Cash                                        $67,000

Short-term investments          182,000

Accounts receivable               123,000

Long-term investments           35,000

Inventory                                 215,000

Receivables from employees 40,000

Prepaid expenses (for 2022)  16,000

Land                                      280,000

Building                              1,550,000

Equipment                            637,000

Patent (net)                           152,000

Franchise (net)                      40,000

Notes receivable                250,000

Interest receivable                12,000

Accumulated depreciation—building      $620,000

Accumulated depreciation—equipment    210,000

Accounts payable                                       189,000

Dividends payable (payable on 1/16/2022) 10,000

Interest payable                                            16,000

Income taxes payable                                  40,000

Deferred revenue                                        60,000

Notes payable                                            300,000

Common stock, 1.4 million authorized

670,000 shares issued & outstanding 2,000,000

Retained earnings                                      146,000

Totals                            $3,599,000    $3,599,000

Adjustments:

Common stock, 1.4 million shares of no par stock authorized,

670,000 shares issued and outstanding

Receivables from employees are short-term assets

Notes receivable 250,000

Short-term =          67,000

Long-term =         183,000

Deferred Revenue:

Short-term = $48,000 ($60,000 * 80%)

Long-term = $12,000 ($60,000 * 20%)

8 0
3 years ago
1.2.35 Question Help Ralph Chase plans to sell a piece of property for ​$ 140000 140000. He wants the money to be paid off in tw
VARVARA [1.3K]

Answer:

a). The amount of the short-term loan=$128,181.82

b). The amount of the long-term loan=$156,666.67

Explanation:

The total annual interest to be paid can be expressed as;

I=PRT

where;

I=annual interest

P=principal amount of the note

T=number of years

a). For the short-term note's case;

I=$14,100

P=unknown

R=11%

T=1 year

replacing;

14,100=P×(11/100)×1

0.11 P=14,100

P=14,100/0.11

P=128,181.82

The amount of the short-term loan=$128,181.82

b). For the long-term note's case;

I=$14,100

P=unknown

R=9%

T=1 year

replacing;

14,100=P×(9/100)×1

14,100=P×0.09

0.09 P=14,100

P=14,100/0.09

P=156,666.67

The amount of the long-term note=$156,666.67

3 0
3 years ago
Utility bills change each monthly, so these are called _____ expenses.
Degger [83]
Answer: C. hope this help!!!!!
8 0
3 years ago
Read 2 more answers
Were all loan proceeds used to purchase, build, or improve the home secured by this loan?.
8_murik_8 [283]

A loan is usually gotten from a financial institution to solve a financial emergency which was unplanned for.

<h3>What is a Loan?</h3>

This refers to the obtaining of money from a financial institution and a formal agreement is made for the repayment of the money after a given period of time and with interest.

With this in mind, we can see that loan proceeds can be used to:

  • Buy a house
  • Go on a trip, etc

Please note that your question is incomplete so I gave you a general overview to help you get better understanding of the concept.

Read more about loans ere:

brainly.com/question/25239160

7 0
2 years ago
Heidebrecht Design acquired 20% of the outstanding common stock of Quayle Company on January 1, 2014, by paying $800,000 for the
DedPeter [7]

Answer:

Detailed step wise solution is given below:

4 0
3 years ago
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