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snow_tiger [21]
3 years ago
10

The Homeowners policy on Dylan's $110,000 home is voided when he intentionally burns the house to the ground. Consequently, he d

oes not receive the settlement check he was hoping to when he committed the arson, but he still has an outstanding mortgage balance of $76,000. How does this event affect the mortgage lender?
The insurer pays the mortgage lender $110,000.
The insurer pays the mortgage lender $76,000.
The insurer pays the mortgage lender $55,000 - half the total amount of the loss.
Because the arson voided the policy, the mortgage lender is paid nothing.
Business
1 answer:
Advocard [28]3 years ago
8 0

Answer:

The insurer pays the mortgage lender $76,000.

Explanation:

As the total outstanding amount is only $76,000

Although that the value of home is $110,000. But only the outstanding balance which is yet not repaid on mortgage will be paid to mortgage lender.

This will be paid by the insurer as the house was insured, and even though if it is burned intentionally, the insurer can not run from his liability.

Accordingly the entire balance of mortgage lender, since amount outstanding is less than value of home will be paid by the insurer.

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Richard has $500.00 to invest, but he is willing to borrow money to increase the size of his investment. How much should Richard
liubo4ka [24]

Answer:

c. $125.00

Explanation:

Let us assume the x for invested in portfolio

Invested proportion × expected return of the optimal portfolio + (1 - invested proportion) × risk free rate = expected return

x × 7% + (1 - x) × 3% = 8%

7% x + 3% - 3% x = 8%

4% x = 5%

X = 1.25

Now the invested amount would be

= 1.25 × $500

= $625

So, the borrowed amount would be

= $625 - $500

= $125

8 0
3 years ago
The goal in marketing is to ____.
vaieri [72.5K]
The answer you are looking for is C. meet the needs and wants of the customer.
6 0
3 years ago
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs
laiz [17]

Answer:

C. straight back chairs will be overcosted

Explanation:

Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a company-wide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis:

A. rocking chairs will be undercosted

B. There should be no impact on unit cost  

C. straight back chairs will be overcosted

D. rocking chairs will be overcosted.

EXPLANATION

If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted<u> because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.</u>

Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.

8 0
3 years ago
Read 2 more answers
Henry Carr and Noreen Mason formed a partnership, dividing income as follows: annual salary allowance to Carr of $42,000; intere
Evgesh-ka [11]

Answer:

$239,060

Explanation:

The computation of the net income distributed to Carr as follows;

<u> Particulars     Carr      Mason      net income distributed   Non-allocated </u>

Net income                                                                              $442,000

Salary

allowance     $42,000                  $42,000                            $400,000

Interest

on capital     $4,410   $10,290      $14,700                            $385,300

left amount  $192,650 $192,650  $385,300                        $0

Net income  $239,060

8 0
3 years ago
If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to record payment of these wages o
nikdorinn [45]

Answer:

c. A debit to Salaries Payable and a credit to Cash.

Explanation:

As on December 31, entry to record the expense of Salaries which is accrued and not paid is

Salary A/c Dr.                

  To Salaries Payable

Now on the closing date, of previous year there is a liability outstanding of Salary Payable.

In the next year on 5th January the salary outstanding in opening balance sheet is paid.

For this, the payment will be made and accordingly, cash will be reduced.

Accordingly liability will be reduced for this, liability will be debited.

Therefore, correct option is

c. A debit to Salaries Payable and a credit to Cash.

6 0
3 years ago
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