True, it’s a good idea because it helps protect your home and other assets
it is derived from the government’s Police Power According to United States constitutional law, the police power is the ability of the states to control conduct and uphold law and order on their soil for the benefit of their citizens' general welfare, safety, morals, and general well-being.
<u>What </u><u>elements </u><u>make up </u><u>police power?</u>
- The use of police authority has historically entailed the ability to
- (1) advance public health, morality, or safety, as well as the community's overall well-being;
- (2) create and enforce laws to advance the common welfare; and
- (3) restrict private rights in the public interest.
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Answer:
(A) $110,000
(B) $44,000
(C) $440,000
(D) $176,000
Explanation:
Parent corporation invested $1,000,000 in sub corpora tion for 25% of its outstanding stock
Sub corporation pays out 40% of net income of dividend each year
(A) Parent's Co's share of Sub's Co's net income for the year is $110,000
(B) Parent's Co's share of Sub's Co's share of dividend for the year is $44,000
(C) The total net income can be calculated as follows
= 110,000 ×100/25
= 11,000,000/25
= $440,000
(D) The total dividend for the year can be calculated as follows
= 440,000 ×40/100
= 440,000 × 0.4
= $176,000
Answer:
$3,000
Explanation:
Calculation to determine How much bad debts expense will Beautiful Lawns report in 2016
Using this formula
Bad debts expense=Estimated doubtful accounts -Allowance for Doubtful Accounts credit balance
Let plug in the formula
Bad debts expense=$3,600-$600
Bad debts expense=$3,000
Therefore The amount of bad debts expense that Beautiful Lawns will report in 2016 is $3,000
Answer:
Dr. Employee Benefits expense $22,700
Cr. Medical Insurance payable $13,500
Cr. Employee retirement program payable $9,200
Explanation:
The cost of fringe benefit provided to the employee of the company and any tax component attached to it is known as the employee benefit expense.
Total employee benefit expense is the sum of medical insurance and employee retirement program. As medical insurance and retirement program is payable until now so, it is recorded as a liability.
Employee benefit expense = $13,500 + $9,200 = $22,700
