1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Naddika [18.5K]
4 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]4 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

You might be interested in
In his mid-forties, edgar felt enormous turmoil, dissatisfaction, and unhappiness with his life. he decided to quit his job, lea
serious [3.7K]
<span>The research on midlife crisis indicates that "Edgar is </span>unlike the average middle-aged adult".

A midlife crisis is a change of character and self-assurance that can happen in middle aged people, normally 45– 64 years old. This phenomenon is portrayed as a mental emergency realized by occasions that feature a man's developing age, inescapable mortality, and perhaps weaknesses of achievements throughout everyday life. This may produce sentiments of wretchedness, regret, anxiety and nervousness, or the want to accomplish energy or roll out intense improvements to current way of life.
8 0
3 years ago
If _________ is constrained, we should __________ the staffing level to lower capacity.
Goryan [66]
 Capacity is constrained when demand exceeds supply and the flow rate is equal to process capacity. The capacity constraint<span> is a factor that prevents a business from achieving more output. </span><span>
If capacity is constrained, we should raise the staffing level to lower capacity.</span>
4 0
3 years ago
A client/server network is an example of ________ administration
sladkih [1.3K]
<span>A client/server network is an example of Central administration
In computer network, a central administration refers to something that enabled several computers to be connected under a single medium.
An example of The real life implication of a client/server net work is the system that we use for online multiplayer gaming</span>
4 0
3 years ago
A manager experiences a cashier shortage that averages $50. 00 per day. if the manager's operation is open 360 days per year, wh
ad-work [718]

A manager experiences a cashier shortage that averages $50. 00 per day. if the manager's operation is open 360 days per year, 1800 will be this manager's annual revenue loss due to cashier shortages

In colloquial language, the average is a single number representing a list of numbers, usually the sum of the numbers divided by the number of numbers in the list. For example, the average of the numbers 2, 3, 4, 7, and 9 is 5.

Suppose there are four types of means: mean, mode, median, and range. In fact, the range is a measure of spread or spread, while others are the most common "measure of central tendency".

Noun. Mean, Mean, Median, Standard means something that represents the midpoint. The average is the quotient obtained by dividing the sum of a set of numbers by the number of numbers. scored an average of 85 points on the test. The mean is the simple mean or the middle value between the two extremes.

In colloquial language, the average is a single number representing a list of numbers, usually the sum of the numbers divided by the number of numbers in the list. For example, the average of the numbers 2, 3, 4, 7, and 9 is 5.

Suppose there are four types of means: mean, mode, median, and range. In fact, the range is a measure of spread or spread, while others are the most common "measure of central tendency".

Noun. Mean, Mean, Median, Standard means something that represents the midpoint. The average is the quotient obtained by dividing the sum of a set of numbers by the number of numbers. scored an average of 85 points on the test. The mean is the simple mean or the middle value between the two extremes.

Learn more about averages   here

brainly.com/question/20118982

#SPJ4

5 0
2 years ago
The relationship between employer and employee can be thought of in terms of a(n) ____, a description of what an employee expect
nydimaria [60]

Answer:

The answer is: psychological contract

Explanation:

Psychological contracts are the expectations or promises exchanged between the parties; employer, employee, or even fellow employees, in an employment relationship. They are not written contracts, but they often implicit or understood between the parties. For example, an employee expects that if he or she works really hard, eventually he or she will receive a promotion or a salary raise.

8 0
3 years ago
Other questions:
  • Why is the cost of goods sold account part of a trading business only?
    15·1 answer
  • Both the medical model and the public health model have in common:
    5·1 answer
  • arlene is single and ahas taxable income of $34000. her tax liability is currently $4636. she has the opportunity to earn an add
    14·1 answer
  • Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind t
    12·1 answer
  • Price is a concept relating to how post-deregulation transportation firms determine and impose charges for their services. which
    15·1 answer
  • When the perpetual inventory system is used, the inventory sold is debited to a.Supplies Expense b.Cost of Goods Sold c.Sales d.
    14·1 answer
  • Question Mode Multiple Choice Question Preferred stockholders: Multiple choice question. have the right to receive dividends onl
    6·1 answer
  • You are evaluating five different investments, all of which involve an upfront outlay of cash. Each investment will provide a si
    11·1 answer
  • Control over cash disbursements is generally more effective when:
    8·1 answer
  • A deductible requires a person with an insurance policy to:
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!