Answer:
the water cooler; air conditioning
Explanation:
It’s probably costing us more for the water cooler, but I’ll bet we’re saving on air conditioning.
Allowance for doubtful accounts is classified as a(n) contra asset account and has a normal <u>credit </u>balance.
<h3>What is
contra asset?</h3>
In a general ledger, a contra account is used to lower the value of a linked account when the two are netted together. The natural balance of a contra account is the inverse of the related account. The contra account records a credit if the connected account's natural balance is a debit. As an illustration, accumulated depreciation serves as the contra account for a fixed asset.
An account used in a general ledger to lower the value of a connected account is called a contra account.
They can be used to report a decrease or write-down in a different contra account that nets to the current book value while maintaining the historical value in the main account.
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The way that the increasing income would affect the market for spam an inferior good is that it would cause the demand for spam to decrease.
<h3>What is an inferior good?</h3>
This is the term that is used to refer to the good that the demand for falls whenever there is a positive change in income. That is as the income of a person rises, the demand that they would have for an inferior good would be more likely to fall.
Hence we can say that the The way that the increasing income would affect the market for spam an inferior good is that it would cause the demand for spam to decrease.
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Answer: a. $0
b. $7,760
c. $1,440
d. $1,200
Explanation:
a. The family have a $500 a year deductible so the $200 will go out from there.
The insurer will therefore pay $0.
b. The remaining Deductible of $300 ( 500 - 300) will be applied to this.
There is also the 80% Coinsurance clause which means the insurer will pay for 80% of the losses. In total the Insurance company will pay,
= (10,000 - $300) * 80%
= 9,700 * 80%
= $7,760
c. The Deductible has been used up so the Insurance company pays 80% of the loss.
= 80% * 1,500
= $1,200
However, the Stop-loss provision of $2,500 kicks in. This is the maximum amount that the family is to pay for any losses during the year.
So far on January 1 2013 and July 1 2013 they have paid,
= 200 + (10,000 - 7,760)
= $2,440
The maximum left till the family pays the maximum is,
= 2,500 - 2,440
= $60
The family will therefore pay only $60 meaning that the insurer will cover,
= 1,500 - 60
= $1,440
d. This is a new year so the Deductible resets back to $500.
Insurer will therefore pay,
= (2,000 - 500) * 80%
= 1,500 * 80%
= $1,200
