Answer:
Producer S brokered slightly more than $40,000 in insurance premium last year, the penalty amount of the surety bond S is required to maintain in favor of the people of Illinois is $2,500.
Explanation:
A producer that brokered more than $40,000 in insurance premium in a given year is required to pay a penalty amount of the surety bond of $2,500 in favor of the people of Illinois.
Answer and Explanation:
The journal entries that are required to adjust merchandise inventory is given below:
Income Summary $121,000
To Inventory $121,000
(Being eliminate Beginning inventory balance is recorded)
Inventory $116,500
To Income Summary $116,500
(Being the cost of ending inventory is recorded)
These two entries should be recorded for adjusting merchandise inventory
Answer:
125%
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Let x = percentage change in price
o.4 = 50 / x
x = 125
Answer:
The retirement fund will last for 33 years and 7 months
Explanation:
We need to solve for time in an ordinary annuity
C $15,000.00
rate 0.004 (4.8% divide by 12 month)
PV $3,000,000
time n
we clear for n as much as we can and solve
now we use logarithmic properties to solve for n:
-403.16
this will be a value in months so we divide by 12 to get it annually
403/12 = 33,5833
we convert the residual to months:
0.5833 x 12 = 6.996 = 7 months
Answer:
Mercantilism
Explanation:
Mercantilism is a national economic policy that is designed to maximize the exports, and minimize the imports, of a nation.
