Answer: $2550
Explanation:
Note that the probabilities of total loss and 50% damage were tripled and the probability of no fire has therefore changed to:
1 - 0006 - 0.024 = 0.97.
The company wants to keep same annual gain from the policy ($750), and the question now is, what would the new premium (N) be which will satisfy this? To get this, we need to solve the equation for:
N:750 = (N - 100,000)(0.006) + (N - 50,000)(0.024) + N(0.97)
Thus, 750 = N - 600 - 1,200, or N - 1,800. Therefore,N= 750+1,800= 2,550.
To account for the added risk which the insurance company is taking by continuing insuring the customer, the premium changes from $1,350 to $2550
The Shareholders' equity as of December 31, 2021 is $6760000
<u>Explanation:</u>
As per the given data in the question:
Calculation of total Stockholder's equity is as follows:
Common stock and other paid-in capital accounts (4000000 plus 400000) = 4400000
Retained earnings (3000000 plus 600000 minus 500000 minus 400000 minus 40000) = 2660000
Less; Treasury Stock = -300000
Total Stockholder's equity = 6760000
Thus, the shareholders equity as of December 31, 2021 is $6760000
The option with $6760000 is the correct option.
Note: the retained earnings were to be calculated using the data in the question
The most likely reason Trevor and Matt have different salaries despite doing the same activities is that they work on different farms.
When a person is hired by another person to perform a job, they must sign a contract that establishes all the characteristics of the employment relationship that unites them. Aspects such as:
- Work hours
- Salary
- Workplace
- Benefits
- Job security
In this case, comparing the salary of Matt and Trevor it can be inferred that the difference in salaries is because each signed a different employment contract with their respective bosses. Therefore, despite doing the same job, they have different salaries.
Learn more in: brainly.com/question/13983065
Answer:
Fighting Okra Cooking Services
Income Statement for the years ended December 31, xxxx
Service revenue $84,000
Less: Supplies expense <u>($19,000)</u>
Gross Income $65,000
Less: Operating Expenses
Postage expense $1,950
Legal fees expense $2,850
Rent expense $11,500
Salaries expense <u>$33,000</u>
<u>($49,300)</u>
Operating Income <u>$15,700 </u>
Explanation:
The interest and Tax expenses has not been given, so the income statement is ended up on Operating income.
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