1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bagirrra123 [75]
2 years ago
8

What is a beneficiary? Question 50 options: The person who files insurance claims on your behalf The person who determines wheth

er you qualify for life insurance The person who evaluates life insurance claims The person or group of people who will receive your life insurance money.
Business
1 answer:
Zina [86]2 years ago
6 0
A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured.
You might be interested in
Complementary goods have a _______________ cross-price elasticity: as the price of one good increases, the demand for the second
Maru [420]

Answer:

negative

Explanation:

Complementary goods have a negative cross-price elasticity because the increase in price of one tends to a weak or fall in consumer demand of the second. For instance, a hike in petrol will lead to a  decrease in consumer demand for cars thereby giving rise to alternatives to these goods (most likely, there would be a surge in subway or rail patronage)

5 0
2 years ago
Which of the following is most likely to have inelastic demand?
iren [92.7K]
I think the answer is A
6 0
2 years ago
Assume Coronado Industries deposits $98000 with First National Bank in an account earning interest at 8% per annum, compounded s
kiruha [24]

Answer:

Future Value= $156,901.16

Explanation:

Giving the following information:

Assume Coronado Industries deposits $98000 with First National Bank in an account earning interest at 8% per annum, compounded semi-annually.

To calculate the future value of this investment, we need to use the following formula:

FV=PV*(1+i)^n

PV= 98,000

i= 0.08/2= 0.04

n= 6*2= 12

FV= 98,000*(1.04^12)= $156,901.16

6 0
3 years ago
Which is the best way to prepare yourself for a job in the sports industry
Nataliya [291]
Are there any answer options? I know the answer if you have options
8 0
3 years ago
Read 2 more answers
Exercise 7-4A Effect of recognizing uncollectible accounts expense on financial statements: Percent of revenue allowance method
vfiekz [6]

Answer:

Rosie Dry Cleaning

a. Organization of the transaction data in accounts under an accounting equation:

Year 1:

The accounting equation is Assets = Liabilities + Equity.

1) Provided $29,940 of cleaning services on account.

Assets (Accounts Receivable) increases by $29,940; Equity (Retained Earnings) increases by $29,940.  So, Assets + $29,940 = Liabilities + Equity + $29,940.

2) Collected $23,952 cash from accounts receivable.

Assets (Cash) increases by $23,952 and Assets (Accounts Receivable) decreases by $23,952.  So, Assets + $23,952 and - $23,952 = Liabilities + Equity.

3) Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Assets (Accounts Receivable) reduces by $59.88 and Equity (Retained Earnings) reduces by $59.88.  So, Assets - $59.88 = Liabilities + Equity - $59.88.

Year 2:

1. Wrote off a $225 account receivable that was determined to be uncollectible.

Assets (Accounts Receivable) decreases by $225 and Equity (Retained Earnings) decreases by $225.  So, Assets - $225 = Liabilities + Equity - $225.

2. Provided $34,940 of cleaning services on account.

Assets (Accounts Receivable) increases by $34,940 and Equity (Retained Earnings) increases by $34,940.  So, Assets + $34,940 = Liabilities + Equity + $34,940.

3. Collected $30,922 cash from accounts receivable.

Assets (Cash) increases by $30,922 and Assets (Accounts Receivable) decreases by $30,922.  So, Assets + $30,922 - $30,922 = Liabilities + Equity.

4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Assets (Accounts Receivable) decreases by $37.93 ($97.81 - $59.88) and Equity (Retained Earnings) decreases by $37.93.  So, Assets - $37.93 = Liabilities + Equity - $37.93.

b. 1) Net Income for Year 1:

Sales = $29,940

less Allowance for uncollectible = $59.88)

Total = $29,880.12

2) Net Cash Flows from operating activities for Year 1 = $23,952.

3) Balance of Accounts Receivable at the end of Year 1:

Sales = $29,940

Less Cash Receipt = $23,952

Balance = $5,988

4) Net Realizable value of accounts receivable at the end of Year 1.

Accounts Balance = $5,988

less Allowance for Uncollectible = $59.88

Net Realizable = $5,928.12

c 1) Net Income for Year 1:

Sales = $34,940

less Bad Debts Expense = $262.93 ($37.93 + $225)

Total = $34,677.07

2) Net Cash Flows from operating activities for Year 1 = $30,922.

3) Balance of Accounts Receivable at the end of Year 1:

Beginning balance = $5,988

Sales = $34,940

Less Bad Debts Expense = $225

Less Cash Receipt = $30,922

Balance = $9,781

4) Net Realizable value of accounts receivable at the end of Year 1.

Accounts Balance = $9,781

less Allowance for Uncollectible = $97.81

Net Realizable = $9,683.19

Explanation:

The accounting equation states that Assets equal Liabilities plus Equity.  Any change in one side of the equation affects the other.  Sometimes, a transaction or event affects one side only by increasing one account and decreasing another account on the same side of the equation.  Examples are demonstrated in the answer above.

When an uncollectible is deemed bad, it reduces the Accounts Receivable and increases the bad debt expense.  The overall effect on the accounting equation is a reduction in Assets and Equity respectively.

8 0
3 years ago
Other questions:
  • Two investment advisers are comparing performance. Adviser A averaged a 20% return with a portfolio beta of 1.5, and adviser B a
    7·1 answer
  • "Willow's team has split up the contributions for its group writing project equally, with individual team members committing var
    8·1 answer
  • Derrick invested $70,000 cash in the business. Paid $10,000 in cash for equipment. Performed services for cash amounting to $7,0
    7·1 answer
  • The federal government is considered a bureaucracy primarily because it
    10·1 answer
  • The cost of equipment to apply epoxy paint to a warehouse floor is $1,400. Materials and supplies (masking tape, surface repair
    5·1 answer
  • For accounting errors, which of the below sentences is true?
    10·1 answer
  • Describe the main differences for revenue spending between ""for profit"" companies and ""not for profit"" companies. Describe h
    8·1 answer
  • Tim received a letter from his state college stating that he had been expelled from the school. The letter stated his finance pr
    5·1 answer
  • Write the president (me) a memo explaining your reasoning and suggest a new pricing strategy. (You can decide what kind of busin
    13·1 answer
  • ​a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage thro
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!