Answer: Yes, the years worth of payments is more than the actual claim
Explanation:
the claim was $2500 and he payed $3,012 a year for insurance
Answer:
$119,400
Explanation:
Given that,
Opening, balance in the prepaid insurance account = $66,400
paid for insurance = $104,000
At the end, Balance in the prepaid insurance account = $51,000
Total amount paid:
= Opening, Balance in the prepaid insurance account + Paid for insurance
= $66,400 + $104,000
= $170,400
Insurance expense for 2021:
= Total amount paid - At the end, balance in the prepaid insurance account
= $170,400 - $51,000
= $119,400
Answer:
$20 million
Explanation:
The computation of the ending inventory if FIFO is used
= LIFO reserve + Ending inventory based on LIFO inventory
= $3 million + $17 million
= $20 million
We simply added the LIFO reserve and LIFO ending inventory so that FIFO ending inventory can be computed. Hence, we take all the items for the computation part.
Answer:
A). Ending Inventory = Beginning Inventory + Units Produced-Sales
Example
For March = 9375-4250 = 5125
For April = 5125+9375-8250 = 6250
B). ) Inventory cost = $12*Ending Inventory
Financing Cost = 0.01*Inventory Cost
For March = 12* 5125 = 61500 = Inventory Cost
Financing Cost = 0.01*61500 = $615
Adding for all months
Total Financing cost = $1620
Answer: (B) business-to-business
Explanation:
Business to business selling is the process in which a one business selling its products and the services to the another business instead selling the products to the customers.
It basically create some value for the business and it is one of thee most complex selling business as compare to the B2C (Business to consumer).
B2B (Business-to-business) is one of the best technique and practice where the company selling the products to another business company such as wholesaler and office supplier.
Therefore, Option (B) is correct.