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3 years ago

Unskilled workers found jobs as ___________ in the late 1800s.

Business

1 answer:

raketka [301]3 years ago

4 0

Unskilled workers found jobs as FRUIT PICKERS in the late 1800s.

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As of December 31, Plush has not recorded any insurance expense for the year. The only insurance policy it owns is the one purch

konstantin123 [22]

Answer:

Debit Insurance expense $10,000

Credit Prepaid Insurance $10,000

Being entries to recognize insurance expense for the period (August to December).

Explanation:

Given;

Insurance policy was purchased on July 10 to run for 3 years.

Cost of policy = $72,000

Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)

Monthly depreciation = $72,000/(3 × 12)

= $2,000

Total amortization between August and December = 5 × $2,000

= $10,000

Journal entries

Debit Insurance expense $10,000

Credit Prepaid Insurance $10,000

Being entries to recognize insurance expense for the period (August to December).

7 0

3 years ago

A commercial building with a market value of $200,000 has an insurance policy with an 80 percent coinsurance clause. The owner c

RideAnS [48]

Answer:

$45,000

Explanation:

In this case the market value is $200,000 but the policy limit is only $120,000, with a coinsurance of 80%.

Since the amount of loss = $60,000, the insurance company will pay:

(stop limit / value) x loss = ($120,000 / $160,000*) x $60,000 = 0.75 x $60,000 = $45,000

*the $160,000 value is determined by multiplying the fair market value of the property times the coinsurance = $200,000 x 80% = $160,000

8 0

4 years ago

Zang Company had no office supplies on hand at the beginning of the year. During the year, the company purchased $250 worth of o

Amiraneli [1.4K]

Answer:

Hdhdi

Explanation:

7 0

3 years ago

Frank Corporation manufactures a single product that has a selling price of $25.00 per unit. Fixed expenses total $64,000 per ye

gavmur [86]

Answer:

Break-even point in units= 10,375

Explanation:

Giving the following information:

Selling price= $25

Fixed cost= $64,000

Break-even point in units= 8,000

<u>First, we need to determine the unitary contribution margin:</u>

Break-even point in units= fixed costs/ contribution margin per unit

8,000 = 64,000 / contribution margin per unit

contribution margin per unit8,000= 64,000

contribution margin per unit= 64,000 / 8,000

contribution margin per unit= $8

<u>Now, the number of units to be sold to make a profit of $19,000:</u>

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (64,000 + 19,000) / 8

Break-even point in units= 10,375

8 0

3 years ago

Q3) At an output level of 45,000 units, you calculate that the degree of operating leverage is 2.79. If output rises to 48,000 u

Luden [163]

Answer: 18.6%

Explanation:

Degree of operating leverage = % change in Operating cash flow / % change in output

% change in Output

= $\frac{48,000 - 45,000}{45,000}$

= 6.7%

Degree of operating leverage = % change in Operating cash flow / % change in output

2.79 = % change in Operating cash flow/ 6.7%

% change in Operating cash flow = 2.79 * 6.7%

% change in Operating cash flow = 18.6%

5 0

3 years ago