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
Mars2501 [29]
3 years ago
5

5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,

000. The replacement cost of the home is $200,000. Indicate the extent to which each of the following losses would be covered under Toddâs Homeowners 3 policy. (Ignore the deductible.)
Lightning strikes the roof of the house and severely damages it. The actual cash value of the damaged roof is $10,000, and it will cost $16,000 to replace the damaged portion.A living room window is broken in a hailstorm. The drapes are water stained and must be replaced. The actual cash value of the damaged drape is $400. Replacement cost is $600.The water heater explodes and damages some household contents. The actual cash value of the damaged property is$2000, and the cost of replacing the property is $3200.
Business
2 answers:
Aloiza [94]3 years ago
8 0

Answer:

Explanation:

Given Data;

The dwelling is insured for $120,000

The replacement cost of the home is $200,000

The question is answered based on home owners 3 policy.

a) All risk form

b)Protection against all perils except flood, earthquake, war and nuclear accident.

1) The sum of $10,000 is the receivable amount  for loss

2)The sum of $400 which is the cash value of damaged drape is the payable loss.

3) The sum of $2000 which is the actual cash value of the damaged property is the payable loss.

Fantom [35]3 years ago
3 0

Answer:

Explanation:

a). The highest point of the house was hurt. It will be made sure about under Part A . The most outrageous proportion of game plan is $120,000. The cash estimation of hardship is $10,000. In this manner, the dollar whole receivable for adversity is $10,000.  

b). The damage of window of the parlor will be made sure about under Part A course of action. The cash estimation of the damages is $400. From this time forward, the dollar proportion of mishap payable is $400.  

c). The damages on account of impact of water radiator will be made sure about under Part C, singular property hurt. The most outrageous proportion of hardship will be half of inclusion A. The most extraordinary proportion of consideration will be $60,000 (half of $120,000). In any case, the genuine cash estimation of the incident is $2,000. In this way, the dollar proportion of setback will be $2,000

You might be interested in
5. If you enter a road from a driveway, alley or roadside you must:
8_murik_8 [283]

Answer:

If you enter a road from a driveway, alley or roadside you must:

Yield to vehicles already on the main road.

Explanation:

The concept of right to way is supposed to be understand since there are no law that actually grants the right of way since it only states when the right of way is to be yielded. This concept has to be considered and well understood by all motorists to avoid conflict on roads. These conflicts often cause accidents which can lead to possible loss of life. Thus the rules governing right of way have to be taken very seriously to minimize the probability of accident.

In the following cases the right of way has to be yielded;

1. When one is at a yield sign for example; a stop sign

2. At a pedestrian crosswalk

3. At intersections that don't have traffic lights or where there is uncontrolled movement

4. At T intersections where one has to yield to motorists already on the main road

5. When one needs to turn left into the main road, one needs to yield to oncoming vehicles on the main road

6. One one is moving from a parking lot to the pavement

In our case, rule number four applies since one needs to enter from a driveway alley or roadside to the main road. This means that one on the driveway needs to yield to vehicles already on the main road.

3 0
3 years ago
Read 2 more answers
What is a transferable skill ?
ser-zykov [4K]

Answer:

it's 4, a skill you can use in many different situations

8 0
2 years ago
Narver Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department
Karo-lina-s [1.5K]

Answer:

44,780 units

Explanation:

When a company uses the weighted average method in its process costing system, the beginning inventory nor the units transferred in are included in the calculations for equivalent units. Only units transferred out and ending inventory are use to calculate equivalent units:

equivalent units = units transferred out + (ending inventory x % of completion)}

equivalent units = 37,100 units + (9,600 units x 80%) = 37,100 units + 7,680 units = 44,780 units

8 0
3 years ago
At the end of the fiscal year, the usual adjusting entry to update Prepaid Rent for the portion of the benefit that was used up
TEA [102]

Answer:

d. net income for the year will be overstated.

Explanation:

The prepaid rent account is used to record the amount paid in advance for rent. Once the amount is paid, the entries required are

Debit Prepaid rent

Credit Cash account

On subsequent use of the rent, the required entries are

Debit Rent expense

Credit Prepaid rent

As such where at the end of the fiscal year, the usual adjusting entry to update Prepaid Rent for the portion of the benefit that was used up / expired was accidentally omitted, net income for the year will be overstated as the rent expense that would have been posted to reduce it would have been omitted.

6 0
3 years ago
Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $121,000; All
kogti [31]

Answer:

Bad debt expense  $ 26,300

Allowance for Uncollectible Accounts   $ 26,300

Explanation:

Initial Balance  

Accounts Receivable  $ 121,000

Allowance for Uncollectible Accounts   $ 2,100 - Debit

Bad Debts Expense =  20% / Accounts Receivable $ 24,200

Adjusting Entry

Bad debt expense  $ 26,300

Allowance for Uncollectible Accounts   $ 26,300

Final Balance  

Accounts Receivable  $ 121,000

Allowance for Uncollectible Accounts   $ 24,200 - Credit

Accounts Uncollectible are those credit that the company give and there are not chances of been collected.

When the customers buy products on credits but then the company can't collect the debt, then it's necessary to write off the unpaid bill as uncollectible

One way it's to write-off directly the bad debts at the moment decided that the credit are uncollectible, the total amount it's reported as bad debt expenses which affect negativly the income statement and the accounts receivable are reduce in the same amount, less assets.

The other way it's to determine a percentage of total amount of accounts receivables as uncollectible, exist many ways to analize the accounts receivable and figure the value of uncollectible.

When the company have the percentage of uncollectible accounts the journal entry required is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)

At the moment of the write-off as the expenses were before recognized we only use the Allowance for Uncollectible Accounts (Debit) with Accounts Receivable (Credit), with this we are recognizing the uncollectible credit of the company.

6 0
3 years ago
Other questions:
  • On July 1, 2013, Farm Fresh Industries purchased a specialized delivery truck for $126,000. At the time, Farm Fresh estimated th
    13·2 answers
  • What determines the price and the quantity produced of most goods? the availability of substitutes for the goods the quality of
    11·2 answers
  • B&T Company's production costs for May are: direct labor, $13,000; indirect labor, $6,500; direct materials, $15,000; proper
    10·1 answer
  • Erin is under stress: she has only a few minutes to make a connection at a large, busy airport—and the gate is in another termin
    9·1 answer
  • The gap between exports and imports in a nation's economy is called the ___________. trade surplus trade balance trade deficit t
    9·2 answers
  • Minnesota Company has no beginning and ending inventories, and has the following data about its only product: Fixed manufacturin
    5·1 answer
  • If the interest rate is 8%, what is the 4-year discount factor? What is the 4-year annuity factor? What is the relationship betw
    5·1 answer
  • The Missing Link Chain-Link Fence Company is trying to determine how many chain-link fabricating machines to buy for its factory
    6·1 answer
  • The __________ job market is comprised of internet job boards, want ads, newspaper ads, and radio advertisements. these are medi
    14·1 answer
  • What is a well-informed, but often neglected, source of free marketing data? A. infomercials B. college professors C. Secondhand
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!