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Damm [24]
3 years ago
9

What amount would a person with actual cash value (ACV) coverage receive for three-year-old furniture destroyed by a fire? The f

urniture would cost $4,500 to replace today and had an estimated life of six years.
Business
1 answer:
Lorico [155]3 years ago
5 0

Answer:

The actual cash value a person would receive for a $4,500 destroyed furniture would be:

$3,000

Explanation:

Actual cash value is a method to calculate the value of an insured good. Its formula goes like this: Original value minus the original value divided by the years covered multiplied by two. In our case this would be 4,500-[4,500 / 6 x 2] giving us as result the following operation 4,500- 1500 = 3,000.

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ivanzaharov [21]
Depends on brand. can vary from a few hundred to more.
6 0
3 years ago
Read 2 more answers
Consider Derek's budget information: materials to be used totals $62,100; direct labor totals $198,200; factory overhead totals
Katen [24]

Answer:

Cost of goods manufactured  655,900

Explanation:

<em>First, we add the three cost component:</em>

materials used in production                 62,100

direct labor                                            198,200

overhead                                               403,100

total cost added during the period    663,400

<em>Then, using the WIP beginning and ending figures, we solve for cost of goods manufactured</em>

WIP         january 1st                 187,500

cost added                              663,400

WP endind                           <u>   (195,000)  </u>

Cost of goods manufactured  655,900

8 0
3 years ago
Maker Co. discovered that in the prior year it incorrectly calculated depreciation expense and reported $75,000 in depreciation
WARRIOR [948]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Maker Co. discovered that in the prior year it incorrectly calculated depreciation expense and reported $75,000 in depreciation expense instead of the correct depreciation expense of $50,000. The tax rate for the current year was 35%.

We need to calculate two different impacts:

Accumulated depreciation= actual depreciation - original depreciation

Accumulated depreciation= 50,000 - 75,000= 25,000 overstated

Now, the effect on income:

Savings in tax= 25,000*0.35= $8,750

7 0
3 years ago
Use the three-step demand-supply analysis discussed in class to analyze changes to the equilibrium price, and quantity in the ca
Ghella [55]

A new computer chip affects the supply curve only.

Demand-supply is an economic version of price determination in a market. It postulates that preserving all else identical, in an aggressive market, the unit price for a specific appropriate, or other traded item which includes hard work or liquid financial property, will range till it settles at a point in which the quantity demanded (at the modern price) will same the quantity supplied (on the modern-day price), ensuing in an economic equilibrium for rate and quantity transacted.

Equilibrium is a scenario wherein economic forces consisting of delivery and demand are balanced and in the absence of outside impacts the values of economic variables will no longer alternate.

Philosophical analysis is any of various techniques, typically used by philosophers in the analytic culture, to be able to "damage down" philosophical problems. Arguably the maximum prominent of those techniques is the evaluation of concepts.

Learn more about Demand-supply here: brainly.com/question/4804206

#SPJ4

7 0
1 year ago
Which of the following statements is correct? Group of answer choices The normal balance of revenue is a debit. The normal balan
kaheart [24]

Answer:

The normal balance of liabilities is a credit.

Explanation:

In the double entry system one account must be debited in order for the other to be credited.

There are different balances for each account. For the accounts with normal credit balance a credit causes it to increase while a debit decreases it.

For accounts with negative balance a credit reduces its balance while a debit increases its balance.

- Asset: Debit

- Expense: Debit

- Dividends: Debit

- Liability: Credit

- Owner’s Equity: Credit

- Revenue: Credit

- Retained Earnings: Credit

Liabilities are debt owed by a business. When payment is given out to settle a debt (a debit) it reduces to amount a business owes.

If more loans are collected (a credit) the liability figure increases.

So liability has a normal credit balance

5 0
3 years ago
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