Answer:
April, 1
DR Prepaid Insurance .............................................................$23,000
CR Cash ........................................................................................................$23,000
Dec, 31
DR Insurance Expense.............................................................$8,625
CR Prepaid Insurance................................................................................$8,625
Working
Insurance expense;
April to December = 9 months
= 23,000 * 9/24 months
= $8,625
Nov, 1
DR Cash ......................................................................................$16,800
CR Deferred rent revenue .....................................................................$16,800
Dec, 31
DR Deferred rent revenue ...................................................$5,600
CR Rent Revenue......................................................................................$5,600
Working
= 16,800 * 2/6 months
= $5,600
To predict future sales based on patterns of historical data. Party Supply is using <u>Analytics</u>
<h3>What is analytics?</h3>
Analytics is the discipline of systematically computing data or statistics. It is employed in the search for, analysis of, and dissemination of significant data patterns. Making successful decisions also requires utilizing data patterns.
<h3>What is the best definition of analytics?</h3>
The scientific method of converting data into insights for the benefit of better decision-making is known as analytics, according to INFORMS. Analytics is a methodology that is always action-oriented.
The usage of operations, programming, and statistics are all mentioned. It also has to deal with the investigation of information that has been transformed from raw data into insight 1. The main board can make more informed choices thanks to this procedure. In fields where data collection is excessive, it is particularly helpful.
To know more about Analytics visit:
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Base salary of Alex = $5000
commission = 5.25% = 5.25/100 = 0.0525
total money he make with sales = $8000
let S is the total sales he make, then the equation becomes
$5000 + 0.0525S = $8000
0.0525S = 8000 - 5000
0.0525S = 3000
S = 3000 / 0.0525
S = 57142.8571429
if we want to confirm that our answer is right we can multiply the value of S with 0.0525 and we get $3000, and $5000 + $3000 = $8000
Explanation:
Except for resources.........
Answer:
$35,000
Explanation:
Given that
Insurance = $700,000
Sustained cost = $40,000
Replacement cost = $1,000,000
Policy = 80%
The computation of amount eligible for payment is as shown below:-
Insurance required = Cost of building × Co insurance
=$1,000,000 × 0.80
= $800,000
The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss
= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)
= $700,000 ÷ $800,000 × $40,000
= 0.875 × $35,000
= $35,000