Because the assured is 42 when the life policy was issued, such age will be called an original age of the policy.
<h3>What is an
original age?</h3>
In a life policy, an Original Age refers to the age of an insured at the inception of a life insurance policy.
Therefore, as the the assured is 42 when the life policy was issued, such age will be called an original age of the policy.
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The entry to record this transaction would include:
Dr. Inventory $20,000
Cr. Accounts payable $20,000
What does it mean to purchase inventory on account?
Purchasing the inventory on account for $20,000 means that Ferguson corp. did not make payment for the inventory immediately, it rather purchased the inventory on credit with a promise to pay later.
As a result, the liability of Ferguson corp. has increased, specifically, the company would credit accounts payable with $20,000 such that inventory, which is the receiving account is debited with the same amount
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Answer:
Land 373,500
Building 1,100,000
<u />
land improvements 67,000
Fence 55,000
Sign 12,000
Explanation:
Land cost:
cash 160,000
note payable 145,000
delinquent property tax 4,000
insurance costing 1,500
level the land 3,000
soil <u> 60,000</u>
Total land: 373,500
The land will be recorded for all the cost necessary to get it ready for use.
The soil, once added can't be differentiate from the original land. It is added to the land is not an improvement.
The office building will be for 1,100,000
land improvements will be the fence and signs:
fence 55,000
sign <u> 12,000 </u>
total 67,000
A caterer is someone who arranges the delivery, preparation and presentation of food for clients. If you've ever attended a bridal shower, fund raiser, rehearsal dinner, wedding reception or a bar mitzvah that had beautifully prepared and presented food, chances are that event was catered.
Answer:
<em>A. autoworker who is temporarily laid off from an automobile company because of a decline in sales.
</em>
Explanation:
Cyclical unemployment is <em>unemployment that occurs when full employment can not be met by the aggregate demand for goods and services in an economy.</em>
This takes place during times of decreased economic growth or times of economic slowdown.
Cyclical unemployment is directly linked to the degree of macroeconomic behavior, which is the combined or collective activity of all economically involved individuals and entities.
Instead of linear, this overall trend is cyclical-economic activity tends to increase and fall rather than always rising or falling.
