Answer:
a. $17,978
b. $300,000
Explanation:
Conditions
- The cotton country of lancaster, california has owned his home for ten years
- purchased it for $178,000, cotton bought a $160,000 homeowner's insurance policy
- the replacement cost of the home is now $300,000
a. hence,
the proportion of the house insured = 
%
= 89.89%
Percentage amount covered by the policy
= proportion of the house insured = 89.89%
Amount covered by the policy in dollars
= $20,000 × 89.89%
= $17,978
b
Amount of insurance on the home that cotton should now carry to be fully reimbursed for a fire loss = current value of the home
= $ 300,000
Answer: employees want the extra money more than they want to work at a pace that feels comfortable
Explanation:
A standard hour plan is based on the units that employees produce and once that unit is met, a set hourly wage is paid to the employees and an incentive can be given once the standard number of hours is exceeded.
It should be noted that a standard hour incentive plan is likely to be successful if employees want the extra money more than they want to work at a pace that feels comfortable. This will motivate them to work for extra hours since they want the extra money.
Answer:
Financial accounting is the aspect of accounting that is concerned with the summary, analysis and reporting of financial transactions related to a business.
While managerial accounting is the aspect of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information to help managers plan for the future, make decisions for the company, and determine if their plans and decisions were accurate and efficient.
1. Helps Creditors make lending decisions is related Financial Accounting.
2. Helps in planning and controlling operations is related to Managerial Accounting.
3. Is not required to follow GAAP is related to Managerial Accounting.
4. Has a focus on the future is related to Managerial Accounting.
5. Summary reports prepared quarterly or annually is related to Financial Accounting.
