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Andrei [34K]
2 years ago
14

Explain services offered by insurance companies

Business
1 answer:
Rus_ich [418]2 years ago
4 0
Insurance products & services
Business Insurance. ...
Professional Indemnity. ...
Directors & Officers / Management Liability Insurance. ...
Property Insurance. ...
Motor Insurance / Commercial / Heavy Motor Insurance. ...
Home & Contents Insurance. ...
Cyber Insurance. ...
Business Interruption Insurance.
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4.You can buy a machine for $100,000 that will produce a net income, after operating expenses, of $10,000 per year. If you plan
Anon25 [30]

Answer:

$124,966.9

Explanation:

The computation of the market or resale value is shown below:

$100,000 = $10,000 ÷ (1.15^1) + $10,000 ÷ (1.15^2) + $10,000 ÷ (1.15^3) + $10,000 ÷ (1.15^4) + Resale value  ÷ (1.15^4)

$100,000 = $8695.65 + $7561.44 + $6575.16 + $5717.53 + Resale value ÷ 1.749006

Resale value ÷1.749006 = $71,450.22

So, the resale value is  = $124,966.9

We simply applied the present value formula

3 0
3 years ago
Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and
Anuta_ua [19.1K]

Answer:

c. $ 95,000 $ 0

Explanation:

<u>Calculation of cost of land acquired</u>

For the purpose of recording of land acquired in the books of accounts, the accounting values of consideration paid shall be considered as per the generally accepted accounting principles as well as as per International accounting standard (IAS) - 16 'Property, plant and equipment'. Hence the land shall be recorded as per the following amounts:

Consideration paid in cash (A) = $ 5,000

Consideration in kind (land) (B) = $ 90,000 (Refer Note 1)

Total cost of new land (A+B) = $ 95,000

<em>Note 1</em>

Fair value is irrelevant for the purpose of capitalization of asset (IAS-16)

<u>Calculation of Gain/loss on disposal of land</u>

No gain/loss needs to be recorded as the new asset shall be recorded in terms of the book value of old asset (i.e. net impact is already taken into account during the exchange transaction)

5 0
3 years ago
Mary works 39 hours a week and gets paid $9.25 per hour. she receives a raise, and now gets paid $390 per week. by how much did
Sever21 [200]
Her weekly pay increased by $29.25.
39 times 9.25 is 360.25
360 minus 360.25 is 29.25
7 0
3 years ago
The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,
QveST [7]

Answer:

$1,290

Explanation:

The work in process inventory account balance is given by the sum of the direct material cost, direct labor cost and the amount of applied overhead.

If the balance is $3,850, with material cost of $1,790 and direct labor cost of $770, the applied overhead is:

O = \$3,850 - \$1,790 - \$770\\O=\$1,290

The amount of the applied overhead is $1,290.

4 0
3 years ago
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.3 pound
tatiyna

Answer:

Direct material quantity variance= $20,628.3

Explanation:

Giving the following information:

Standard quantity per unit of output 5.3 pounds

Standard price $14.10 per pound

Actual materials used in production 5,650 pounds

Actual output 790 units

To calculate the direct material quantity variance, we need to use the following formula.

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (5.3*790 - 5,650)*14.1

Direct material quantity variance= $20,628.3

3 0
3 years ago
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