Answer:
D) $26,688
Explanation:
The computation of the present value is shown below:
= Annual payment × PVIFA for 7 years at 6%
= $4,781 × 5.5824
= $26,688
Refer to the PVIFA table
Simply we multiply the annual payment with the PVIFA so that the accurate amount can come.
The present value is come after considering the discount rate for the given number of periods
The adjusting entry would recognise insurance expense of $1,500.
Explanation:
The policy of an insurance company, tax insurance, insurance for business failure, etc. typically lasts a year, with payments charged in full (insurance premiums). Insurance policy is never the same as the financial year of the product. There are also expected to be several consolidated financial statements and some partial financial statements for compensation premiums.
Example of insurance premium payment:
On 31 December, the insurer files an correction report in order to document the expired (extended) cost of insurance and to the the pre-paid number. This is done with an premium fee of $1,000 and a prepayment policy bonus of $1,000.
A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount). A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment.
Answer:
E) Oil imports declined as countries exporting oil reduced supply.
Explanation:
Oil is extremely important for industrialized nations and since Euphrasia is a mixed open economy, we can assume that it is an industrialized nation. Oil has become the most important energy source for more than 60 years and is the raw material for manufacturing plastic.
During the 1970s and early 1980s the American economy was shattered by an increase in the price of foreign oil and a decrease in its domestic production levels. The importance of oil is also why so many modern wars have been fought over oil production and reserves.
Answer:
a small claims court
Explanation:
A small claims court is a local court where a plaintiff can make a claim regarding small amounts of money. Usually small claims courts only have jurisdiction over private disputes regarding money owed under agreement (applies to Maria's claim), unpaid loans, property damage, contract breaches, etc. Small claims court can handle cases up to $35,000 and you usually do not need a lawyer.
