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3 years ago

COMPARE AND CONTRAST WHOLE LIFE,VARIABLE LIFE AND TERM LIFE?

Business

2 answers:

LuckyWell [14K]3 years ago

6 0

Answer:

<h3>WHOLE LIFE: This policy covers the person for his entire life and then pays a cash revenue that is guaranteed for the investments made during the life of the owner of the policy. For this benefits to be obtained the person must pay a fixed high premium for it.</h3>

<h3>VARIABLE LIFE: This policy covers the person for the same period as the whole life insurance but the premium is not fixed as the cash revenue for investments is not guaranteed.</h3>

<h3>TERM LIFE: The term life insurance is set up for an pecific period the premiums are the lowest and persons won't collect any cash payments for revenues made out of investments at the end of the coverage of the policy</h3><h2 />

Sergeu [11.5K]3 years ago

3 0

Answer:

WHOLE LIFE: This policy covers the person for his entire life and then pays a cash revenue that is guaranted for the investments made during the life of the owner of the policy. For this benefits to be obtained the person must pay a fixed high premium for it.

VARIABLE LIFE: This policy covers the person for the same period as the whole life insurance but the premium is not fixed as the cash revenue for investments is not guaranted.

TERM LIFE: The term life insurance is set up for an especific period the premiums are the lowest and persons won't collect any cash payments for revenues made out of investments at the end of the coverage of the policy.

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ToySpot, a soft toy manufacturer, receives an order of 250 teddy bears. For this particular order, its total inventory includes

Vinil7 [7]

Answer:

185 teddy bears are in work in progress inventory

Explanation:

given data

receives order = 250 teddy bears

fabric = 300 yards

ribbon = 200 yards

cotton = 250 pounds

to find out

how many teddy bears can be considered work-in-process inventory

solution

we know that teddy bears to be manufactured is = 250

so finished and this comes under finished goods inventory are

goods inventory = 65 teddy bears

and still in the process is 185 teddy bears

so they needs to undergo further process because the work is still not completed

so we can say that 185 teddy bears are in work in progress inventory

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3 years ago

Sunland Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxa

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Answer:

Deferred Tax Liability= $564,000

Explanation:

The question is to determine the deferred tax liability to recognize by Sunland Co. at the end of the year 2017.

Step 1 :

We determine what the Income tax expense is for the year

Income tax expense= Pretax financial income x Income Tax rate

Income tax expense= $1,410,000 x 0.30 = $423,000

Step 2:

Although we recognized receivables as well as instalmental sales for reporting purposes under the accrual method. However, these will be subject to tax when we decide to recognize it in the future.

As such Deferred tax liability = Future Tax Liability

Deferred Tax liability for Sunland Co= Instalmental Sales x Income tax expense

= $1,880,000 x 0.3= $564,000

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3 years ago

The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; acco

Pavlova-9 [17]

Answer:

$196,000

Explanation:

The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.

Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity

Bowler Corporation Balance Sheet as at 2021

Particulars Amount($) Amount($)

Non-Current Assets

Equipment 210,000

Less: Depreciation <u> (78,000) </u> 132,000

Current Assets

Cash 9,500

Accounts receivable 19,500

Inventory <u>35,000</u>

Total Current Assets <u>64,000</u>

Total Assets 196,000

Liabilities and Equity

Current Liabilities

Accounts Payable 75,000

Salaries payable <u> 31,000</u>

Total liabilities 106,000

Equity

Common Stock 69,000

Retained earnings <u> 21,000</u>

Total stockholders' equity <u> 90,000</u>

Total Liabilities and Equity 196,000

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3 years ago

Kim Inc. is considering the replacement of a piece of equipment with a newer model. The following data has been collected: Old E

Ulleksa [173]

Answer:

Kim Inc.

The net advantage (disadvantage) of replacing the old equipment with the new equipment is:

= $7,500.

Explanation:

a) Data and Calculations:

Old Equipment New Equipment

Purchase price $262,500 $450,000

Accumulated depreciation 95,000 0

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Total operating costs for 10 years 3,000,000 2,450,000

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b) The net advantage obtained by Kim for replacing the old equipment with the new equipment is $7,500 ($2,907,500 - $2,900,000). Note that the purchase price of the old equipment with its accumulated depreciation are not relevant costs. This case is worked out without taking into account the time value of money. Assuming that the present value of the cash flows was computed, a different result and conclusion would be reached.

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bogdanovich [222]

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