Answer: The answer is given below
Explanation:
It should be noted that the split limits approach is used by several auto insurance policies and this simply combines per person and occurrence approach.
For every accident, three dollars amount are being applied. The first limit is simply a per person limit which is the maximum amount that one injured person will get. The second limit is simply the per occurrence limit which is the maximum amount that all the injured persons will get while the third limit applies during the claim of property damage as it is the maximum amount that will be paid for damages by an insurer to property that results from the accident.
since the split is 50/100/20, it implies that $50,000 medical coverage for every injured person, $100,000 injury coverage for all accident victims and then $20,000 for property damage.
1. Bill's insurance company will pay $20000.
2. Amount Bill will pay:
= $17,603 + $3,136 + $9,659 - $20,000
= $30,398 - $20,000
= $10,398
Answer:
d. The amount received in excess of par value becomes part of paid-in capital.
Explanation:
When the corporation issue the capital stock which is higher than the par value it would be credited to Additional paid in capital in excess of par account
The journal entry is shown below for better understanding
Cash A/c Dr XXXXX
To Capital Stock XXXXX
To Additional Paid-in Capital in excess of par - Capital Stock XXXXX
(Being the issuance of capital stock is recorded and the remaining balance is credited to the additional paid-in capital account)
While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account
Answer:
A. $50 in required reserves.
Explanation:
Required reserve is a reserve amount which is required by the regulatory authority to a bank to maintain as a percentage of total deposit. Sometimes the bank reserve extra amount above the requirement to deal with any abnormal transaction. This value is known as the excess reserves.
As per given data
Deposits = $500
Reserves = $200
Required Reserve ratio = 10 percent
Required reserve = Reserve required / Total Deposit
0.1 = Reserve required / $500
Reserve Required = $500 x 0.1
Reserve Required = $50
Excess reserve value = Actual Reserve - Required reserve = $200 - $50 = $150
Answer:
the long-run framework.
Explanation:
In Economics, Growth can be defined as an increase or rise in the level of output and production of goods and services over a specific period of time by a business entity.
Issues of growth are generally considered by economists in the long-run framework because growth itself is a long-run phenomenon in economics.
A long-run growth refers to the continuous and sustained increase in the level of output of goods and services or quantity of production that a business is able to achieve.
Hence, all of the four factors of production affects the level of growth that is being experienced by an individual or organization. These factors are;
1. Capital.
2. Labor.
3. Land.
4. Entrepreneur.
<em>In a nutshell, business owners and economist usually consider the growth of a business as a long-run phenomenon rather than as a short-run phenomenon. </em>
Answer with its Explanation:
The result is that some of the credit cards pays interests on the cash surplus and charges interests on the cash deficit. If the interest rate is higher then the interest on the real cost of items that are finance with the negative balance will be charged interest on the higher interest rate because the interest rate is higher. If the interest rate is lower then the effect of credit card interest rate would be higher on the real cost of items.