Answer:
Neither of the two statements are correct regarding the renters insurance.
Explanation:
Renters insurance which is also commonly know as tenants insurance, is that type of an insurance policy where a tenant can enjoy some benefits of homeowners insurance, where the personal property of the tenant is covered against fire , theft etc. Renters insurance can be taken on a house ,apartment , a condo etc. But it is to be noted that this policy won't cover the structure itself and if the personal property is damaged because of flood , it won't come under the insurance policy.
Answer:
<em>The future value of the investment will be $3,754</em>
Explanation:
<u>Future Value of Investment</u>
Suppose we have a principal P invested for a period of n years at an interest rate i compounded annually. The final value or future value FV of the investment can be computed by:
The case we are considering consists of a present value P=2,000 that will be used to purchase a n = 10-year certificate of deposit (CD). It pays i=6.5% interest. When the CD matures, 10 years from now its value will be
The future value of the investment will be $3,754
Answer:
$120,000
Explanation:
The computation of the budgeted accounts receivable is shown below:
= Budgeted sales of January month × next month sales collection percentage
= $200,000 × 60%
= $120,000
We simply multiply the January accounts receivable with the next month collection sales percentage to find out the budgeted accounts receivable
Answer:
Dollar amount of ending Finished Goods Inventory = $1,073
Explanation:
The first step is to calculate the cost per unit.
Using absorption costing, the cost of one unit is
Cost per unit = direct materials + direct labor + variable manufacturing overhead + fixed manufacturing overhead per unit.
Now, the number of units left in inventory should be defined
Finished Goods Inventory (FGI) = Beginning Finished Goods Inventory + Units produced - units sold
The dollar amount of ending Finished Goods Inventory is FGI multiplied by the cost per unit.
Answer:
Debit Balance as per Cash Book - i - ii + iii = Credit Balance as per Passbook.
Explanation:
Bank Reconciliation Statement is a statement drawn at the end of accounting period, to adjust the mismatch between bak balance as per cashbook & passbook.
Debit Balance as per Cash Book = $ 22970
Less : Receipts added in cashbook, but not passbook = (1885)
Less : Bank service fee deducted from passbook, not cashbook = (55)
Add : Cheques written but not deducted from passbook = 1460
Credit Balance as per passbook = $ 22490
