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RideAnS [48]
2 years ago
15

Michael Glock was the policyowner-insured of a $50,000 participating whole life insurance policy with a $50,000 accidental death

benefit (ADB) rider. Mr. Glock’s $750 annual premium was due on March 13, 2015. On March 24, Mr. Glock was killed in an automobile accident. At the time of his death he had not yet paid his overdue premium. Also at the time of his death, his policy had $3,400 in accumulated policy dividends, including interest, left on deposit with the insurer, and a $2,500 outstanding policy loan. This information indicates that the total death benefit payable to the beneficiary of Mr. Glock’s policy wasa.$46,750
b.$50,150
c.$100,150
d.$96,750
Business
1 answer:
sveticcg [70]2 years ago
3 0

Answer:

B

Explanation:

50,000+3,400-750-2500

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A company orders office supplies in June. Those supplies are received and used in July. The supplies are paid for in August. In
Leviafan [203]

Answer:

Expense must be recognized in July

Explanation:

The reason is that the expense must be recognized in the month in which the supplies are used because the accrual concept says that the expenses must be realized when they are incurred. Incurred means that the consideration received has been used. For example if I pay the telecommunication network in June to give 4G internet and the services are delivered in the month July then the expenses will be realized in the month in which the services were used and that is July for internet facilities. So in this case the supplies are used in the month of July which is in-accordance with the accrual concept.

8 0
2 years ago
G MC Qu. 87 When is a goodwill impairment loss... When is a goodwill impairment loss recognized?
marin [14]

Answer:

Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset.

An impairment is recognized as a loss on the income statement and as a reduction in the goodwill account. The amount of the loss is the difference between the current fair market value of the asset and its carrying value or amount.

Explanation:

6 0
3 years ago
A sporting equipment store expects to purchase $7,800 of ski boots in October. The store had $3,800 of ski boots in merchandise
Maksim231197 [3]

Answer:

Cost of goods sold = $8,800

Explanation:

<em>The cost of goods is represents amount incurred to make available  what has been sold. It is computed as follows:</em>

<em>Cost of goods sold = opening stock + purchases - closing inventory</em>

It is useful to determine the cost of goods so as to calculate the gross profit margin. The gross profit is the sales revenue less cost of goods sold.

So we can compute same for the sporting equipment store as follows:

Cost of goods sold = 3,800 + 7,800 - 2,800

= $8,800

Cost of goods sold = $8,800

5 0
3 years ago
Use your understanding of the strategic management process to complete the sentences below.
pantera1 [17]

A firm’s <u>Strategy</u> is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.

Explanation:

A firm’s <u>Strategy</u> is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.

By acquiring a technology company that develops smartphone apps, a video-streaming business hopes to achieve <u>Synergy </u>, combining its video rights with mobile technology to increase profits.

<u>Example</u>

Drybar, which started in Brentwood, California, in 2010, is a hair salon catering entirely to people with curly or frizzy hair who want their hair straightened. No cuts, perms, or coloring happen here. The store now has over 40 locations.-<u>Target Customer</u>

<u></u>

Applewood Seed Co. of Colorado has fifty years of experience growing and supplying native wildflowers, grasses, and herbs to seed distributors, landscapers, golf courses, state highway departments, parks departments, government agencies, garden centers, mining companies, hydroseeders, and reclamation companies. Applewood has both an in-depth horticultural knowledge of native plants and the ability to supply in bulk-<u>This statement is an example of exploit core competencies</u>

<u></u>

<u></u>

A meditation instructor partners with a technology developer to market relaxation apps featuring soothing natural sounds and guided meditation exercises. The tech expert writes the code, and the meditation instructor develops the apps’ content.-<u>This is an example of building up the Synergy</u>

<u></u>

<u></u>

4 0
3 years ago
A school's band members raised money by selling magazine subscriptions and shirts. Their profit from selling shirts was $\$5$ pe
Savatey [412]

Answer:

They sold 40 shirts and 40 magazine subscriptions.

Explanation:

profit per shirt = $5

set up costs = $40

profit per magazine = $4

S = shirts

C = setup costs

M = magazine

5S - C = 4M

S = M so we replace

5S - 40 = 4S

5S - 4S = 40

S = 40

They sold 40 shirts and 40 magazine subscriptions.

7 0
2 years ago
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