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Naddika [18.5K]
3 years ago
8

Several years ago, Cayuga Capital acquired a $1 million insurance policy on the life of its chief executive officer, naming Cayu

ga Capital as beneficiary. Annual premiums are $20,000, payable at the beginning of each year. In 2021, the cash surrender value of the policy increased from $12,000 to $15,000 according to the contract. Cayuga’s journal entry to record payment of the insurance premium in 2021 would include a:
Business
1 answer:
cestrela7 [59]3 years ago
4 0

Answer:

The Journal entry is as follows:

On December 31st, 2021

Cash surrender value A/c Dr. $3,000

Insurance expense A/c     Dr. $17,000

          To cash A/c                                  $20,000

(To record the payment of the insurance premium)

Working note:

Increase in cash surrender value of the policy:

= $15,000 - $12,000

= $3,000

Insurance expense:

= Annual premiums - Increase in cash surrender value of the policy

= $20,000 - $3,000

= $17,000

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Answer:

B. the passage of time. 

Explanation:

Price elasticity of supply measures how sensitive quantity supplied are to changes in price.

Price elasticity of supply is determined by the passage of time.

Typically, in the short run, the elasticity of supply is usually inelastic. Prices do not usually impact quantity supplied because in the short run, some of the factors of production are fixed. But in the long run, the price elasticity of supply are more elastic.

The other factors listed above in the options affect the price elasticity of demand.

4 0
3 years ago
The weather station model performs the invaluable function of ____________.
Greeley [361]

Answer:

Option B                                    

Explanation:

In simple words, Models of weather stations are visual representations displaying the weather taking place at a specified monitoring station. The stations design was developed by meteorologists that incorporate a variety of climate components into some kind of small area on satellite images.This model has been of high use to prepare for the natural calamtites in advance but it does not influence the project in any way.

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3 years ago
How would you advise Johnson & Johnson on addressing the claim that their talcum powder (baby powder) causes ovarian cancer?
victus00 [196]

Answer:

An example email to the company:

Dear Sirs:

I have recently been in contact with some sources that have told me that you baby Powder may be causing ovarian cancer. I would respectfully ask you to look into this issue, as your product may be harming young children.

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6 0
3 years ago
Read 2 more answers
The quantity demanded of Blu-ray players increased 9% when the price of DVDs increased 5%. What is the estimated cross-price ela
Mila [183]

Answer:

cross price elasticity of demand = 1.8

Explanation:

cross price elasticity of demand = % change in quantity of X / % change in price of Y

cross price elasticity of demand = 9% / 5% = 1.8

When the cross price elasticity of demand is positive, it means that the products are substitutes. If the cross price elasticity is negative, then the products are complements.

8 0
3 years ago
At your workplace, you have been asked to give a presentation to your co-workers regarding their retirement options. Write a spe
3241004551 [841]

Answer:

Greetings, fellow companions. Today I want to talk to you about preparing for the future, for retirement, or anything else in your lives. Please listen carefully as we might save money, but not plan our life. The first factor that makes planning our future so important is that we all have things we want to do in our lives, but not having a strategy separate us from reaching our goals. The second factor that makes me talk about this is that majority of us are not prepared for what the future might have for us. Therefore we need to reduce our risks and our exposure to the events that are most likely going to be part of our life, like paying for our children's college or building a family business. Therefore, I invite you to plan your future, because if we don't do it. We are not going to be able to accomplish our goals.

Explanation:

The reasons backing my answer are that in the first place planning for the future is not very common, even though when we have savings accounts or retirement funds accounts. However, that is only a part of the whole process. Because we might not have seen the full picture to know exactly what are our requires steps to accomplish our goals. For example, if we want a strawberry farm that could provide money for our family, and their children we need to have the land, the knowledge, and the plans to develop our goal. Because if we only save and leave the planning for later. We might overwait, and when never take the first step. What would be the case if a strawberry farm would cost only fifty thousand dollars, and we keep working until we have five hundred thousand. We might have more money but we would have no plan, and we might have time past so far that we might help the children with the farm.

7 0
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