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4 years ago

Which of the following is not a duty of the California Insurance Commissioner?

Business

1 answer:

Masja [62]4 years ago

8 0

Answer:

writing insurance laws

Explanation:

The given question is incomplete and full is here:

Which of the following is NOT a duty of the Insurance Commissioner?

A. maintaining records

B. issuing certificates of authority to transact insurance business

C. writing insurance laws

D. conducting hearings

answer is C because there is authority known as NAIC (National Association of Insurance Commissioners) to formulate and regulate insurance laws

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Min invested $18,000 cash in the business. Paid $7,540 cash for monthly rent expense for May. Paid $4,600 cash for this year’s i

Olenka [21]

Answer:

$\left[\begin{array}{ccc}$Account&$DEBIT&$CREDIT\\$Cash&37,600&-\\$Prepaid insurance&4,600&\\$Office supplies&890&-\\$office equipment&12,900&\\$accouts payable&-&12,900\\$Capital Account&&18,000\\$drawins&3,370&\\$Sales revenue&&36,000\\$Rent expense&7,540&\\$Total&66,900&66,900\\\end{array}\right]$

Explanation:

We must do ledger for each accounts, most of them only got one transaction so we just post them directly.

For cash we must do it as there are several transaction:

CASH

DEBIT CREDIT

18,000

(7,540)

(4,600)

(890)

36,000

(3,370)

37,600

Assets and expenses goes into debit column

Liabilities, equity and revenues into credit column

7 0

3 years ago

For each of the following accounts, indicate the effect of a debit or credit on the account and the normal balance. Debit Effect

salantis [7]

Answer:

Debit Credit

A Bonds payable Decrease Increase

b. Unearned Service Revenue Decrease Increase

c. Depreciation Expense Increase Decrease

d. Common Stock Decrease Increase

e. Buildings. Increase Decrease

f. Rent Revenue. Decrease Increase

Explanation:

Debit Credit

A Bonds payable Decrease Increase

Bonds payable are a form of long term debt usually issued by corporations, hospitals, and governments.

b. Unearned Service Revenue Decrease Increase

Unearned Service Revenue is a liability account that is used to record advanced collections from clients. In other words, it pertains to revenue already collected but the service has not yet been rendered

c. Depreciation Expense Increase Decrease

Depreciation expense is the amount of depreciation that is reported on the income statement.

d. Common Stock Decrease Increase

Common stock is a security that represents ownership in a corporation.

e. Buildings. Increase Decrease

A building, or edifice, is a structure with a roof and walls standing more or less permanently in one place, such as a house or factory

f. Rent Revenue. Decrease Increase

Rent Revenue is the title of an income statement account which (under the accrual basis of accounting) indicates the amount of rent that has been earned during the period of time indicated in the heading of the income statement.

7 0

3 years ago

What process involves determining everyone involved in the project or affected by it, and determining the best ways to manage re

andrey2020 [161]

Identifying stakeholders involves determining everyone involved in the project or affected by it, and determining the best ways to manage relationships with them.

Identifying stakeholders process involves identifying and documenting all the stakeholders on the project, which includes their interests, impact, and potential negative influences on the project. Here, the project charter is he main output of identifying stakeholders process.

Identifying stakeholders involves determining the best ways in order to manage relationships with them. Thus, identifying stakeholders is the first process of the initiating process group which can include top management, project managers, and other functional managers.

Hence, identifying stakeholders is an important process.

To learn more about stakeholders here:

brainly.com/question/26761943

#SPJ4

7 0

2 years ago

The following items are taken from the financial statements of Cullumber Company for 2022:

Doss [256]

Answer:

Cullumber Company

Balance Sheet

As at 2022

Explanation: Amount in $

Current Assets

Accounts Receivable 12,500

Cash 13,000

Prepaid Insurance 6,600

Supplies 4,600

Total Current Assets 36,700

Non-Current Assets

Equipment (225,000-36,900) 188,100

Total Assets 224,800

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable 10,600

Notes Payable 65,000

Salaries Payable 3,900

Total Current Liabilities 79,500

Equity

Common Stocks 97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300

Dividends (16,000)

Total Equity 145,300

Total Liabilities & shareholders' equity 224,800

4 0

4 years ago

Redford's salary was $123,000 in 2019. What would his total combined FICA tax (OASDI & Medicare) withheld from his salary be

Readme [11.4K]

Answer:

$9,409.50

Explanation:

Calculation for the total combined FICA tax (OASDI & Medicare) withheld from Redford's salary for the year

For the year 2019 the total FICA tax rate is 7.65%

Which are :

OASDI tax = 6.2%

+ Medicare tax =1.45%

Now let calculated the amount of OASDI tax for Redford's salary

Using this formula

OASDI tax =Salary ×OASDI tax rate

Let plug in the formula

OASDI tax =$123,000×6.2%

OASDI tax =$7,626

Let let calculated the amount of the Medicare tax for Redford's salary

Using this formula

Medicare tax =Salary ×Medicare tax rate

Let plug in the formula

Medicare tax=$123,000*1.45%

Medicare tax=$1,783.50

Total combined FICA tax

OASDI tax =$7,626

Medicare tax=$1,783.50

Total=$9,409.50

Therefore what the total combined FICA tax (OASDI & Medicare) withheld from his salary will be for the year is $9,409.50

3 0

4 years ago