The correct answer is $240.
If an average household spends $20 per month in natural gas for cooking they would spend a total of $240 per year. If they choose to stop using natural gas for cooking and replace it with a pressure cooker they would save $240 per year for the natural gas.
Answer:
b. credit to Gain on Sale of Investments for $2,400.
Explanation:
May 1, 20Y6
Purchase price of Bond = $100
Number of Bond Purchased = $100,000 / 100 = 1,000 per bond
February 1, 20Y7
Sale Price of Bond = $103 per Bond
Gain on Sale = $103 - $100 = $3 per bond
Number of Bond Sold = $80,000 / 100 = 800 bonds
Gain on sold bonds = 800 bonds x $3 per bond = $2,400
Journal Entry Will be as follows:
Dr. Cr.
Cash (800 x 103) $82,400
Gain on sale $2,400
Investment in Bond $80,000
Answer:
A. They may be oral or written
Explanation:
Option B is correct because it may be altered or withdrawn after the policy issuance. Therefore, it is not the answer.
Option C is also correct because the representations statements are true.
Option D is also appropriate with the representation must be made before the issuance of the policy or at the time of issuance. Therefore, it is not the answer.
Option A is false because it must not need to be written. Therefore, it is the correct answer.
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