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MAVERICK [17]
3 years ago
8

Thad Joslin was judged at fault in an automobile accident. Three others were awarded damages of $147,000, $79,000, and $74,000.

Thad has 100/300 bodily injury liability coverage. What amount, if any, would not be covered by his insurance?
Business
1 answer:
OverLord2011 [107]3 years ago
8 0

Answer:

The amount that would not be covered by Thad Joslin insurance is $50,000

Explanation:

Thad has a 100/300 bodily injury liability coverage, this implies that he has a coverage of $100,000 bodily injury liability insurance per person and $300,000 total bodily injury liability insurance per accident. However, his insurance policy does not make provision for or cover the $50,000 property damage liability per accident. Therefore, Thad Joslin would have to pay for it.

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Novosadov [1.4K]

Answer:

Dr Cash $15,120

Cr Notes Receivable $14,000

Cr Interest Revenue $1,120

Explanation:

Preparation of the journal entry

Based on the information given On March 1, the journal entry that should be made by the company to bring the accounting records up to date will be :

March 1

Dr Cash $15,120

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Explanation:

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On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates
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Answer:

Annual depreciation= $15,950

Explanation:

Giving the following information:

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances for $65,800.

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We need to use the following formula:

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7 0
3 years ago
A company will buy 1000 units of a certain commodity in one year. It decides to hedge 80% of its exposure using futures contract
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Answer:

$96 per unit

Explanation:

The computation of the average price paid for the commodity is shown below:

Average price = Total cost ÷ Total number of units

where,

Total cost = Total number of units buyed × spot rate - hedge fund

where,

Hedge fund is

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So, the total cost is

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Answer:

$786,100

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