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prisoha [69]
3 years ago
11

On April 1, 2009, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What

will be the insurance expense on the annual income statement for the year ended December 31, 2009?A. $1,350.B. $450.C. $1,012.50.D. $337.50.E. $37.50.
Business
1 answer:
madam [21]3 years ago
8 0

Answer:

D. $337.50.

Explanation:

The computation of the insurance expense for the year ended would be shown below:

= Premium amount - nine-month premium

where,

Premium amount is $1,350

And, the nine-month premium would be

= Premium amount × number of months ÷ (total number of months in a year)

= $1,350 × (9 months ÷ 12 months)

= $1,012.50

The nine-month is calculated from the April 1 to December 31

Now put these values to the above formula  

So, the value would equal to

= $1,350 - $1,012.50

= $337.50

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Answer:

A reduction in U.S net exports would shift U.S. aggregate demand goes d. leftward. In an attempt to stabilize the economy, the government could decrease expenditures.

Explanation:

Decrease in net exports shifts the AD curve leftward and to stabilize the economy government should cut taxes.

8 0
3 years ago
Willow Corp. (a C corporation) reported taxable income before the net operating loss deduction (NOL) in the amount of $100,000 i
egoroff_w [7]

Willow Corp NOL carryover to 2021 (year 4) is $10,000

<h3>How to calculate Willow Corp NOL carryover to year 4</h3>

  • Year 3 income = $100,000

Carry forward losses:

  • Year 1 = $50,000
  • Year 2 = $40,000

Total carry forward losses = $50,000 + $40,000

= $90,000

Eligible carry forward loss = $100,000 × 80%

= $100,000 × 0.8

= $80,000

Willow Corp tax liability in year 3 = $100,000 - $80,000 × 21%

= $20,000 × 21%

= 20,000 × 0.21

= $4,200

Willow Corp NOL carryover to year 4 = Total carry forward losses - Eligible carry forward loss

= $90,000 - $80,000

= $10,000

Learn more about tax:

brainly.com/question/25504231

3 0
2 years ago
In 2018, Sheridan Company had credit sales of $894000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance
Fantom [35]

Answer:

$37,100

Explanation:

The computation of the adjustment made to Allowance for Doubtful Accounts  is shown below:

= Ending account receivable balance × uncollectible percentage - credit balance of Allowance for Doubtful Accounts + written off amount

= $235,000 × 10% - $22,300 + $35,900

= $23,500 - $22,300 + $35,900

= $37,100

We simply applied the above formula so that the adjustment amount could arrive

4 0
3 years ago
If you are a DECA member, tell me why, and what you think about it.
Ne4ueva [31]

Answer:

i am

Explanation:

i like deca but i dont at the same time it tends to get annoying

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2 years ago
The cross-price elasticity of demand measures how sensitive purchases of a specific product are to changes in
Usimov [2.4K]

Answer:

The cross price elasticity of demand measure how sensitive is the demand of the product X is due to the change in the price of the product Y.

The formula is stated as: Percentage change in the quantity demanded of product X / Percentage change in the price of product Y.

Further, cross price elasticity can be divided into Positive, negative and zero.

Hope this clears things up.

Good Luck.

4 0
2 years ago
Read 2 more answers
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