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gtnhenbr [62]
2 years ago
6

What is meeting the deductible?

Business
1 answer:
wolverine [178]2 years ago
3 0

Answer:

The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. ... Many plans pay for certain services, like a checkup or disease management programs, before you've met your deductible.

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Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the
Talja [164]

Answer:

                       Transactions        Units        Unit Cost   Total Cost

a. Inventory, Beginning               4,000             $ 20      80,000

b. Purchase, March 5                  10,000              21        210,000

c. Purchase, September 19          6,000             23        138,000

d. Sale, April 15                             4,500            65         292500

e. Sale, October 31                        9,000            68        612000

f. Operating expenses  $615,000

Ending Inventory Units 6,500

Cost of Good Available for Sale = 80,000+ 210,000+ 138,000= $428,000

The number of units in ending inventory = Beginning + Purchases - Sales

                                                     =4000+ 10,000+ 6000- 4,500- 9,000

                                                     = 6500

FIFO  cost of ending inventory $ 148500

6,000 units at $ 23 =$138,000

500 units at $ 21= $ 10500

FIFO  cost of goods sold = Sales - FIFO Ending Inventory

                                      = $ 904500- $ 148500= $ 756000

LIFO  cost of ending inventory $ 132500

4,000 units at $ 20 =$80,000

2500 units at $ 21= $ 52500

LIFO  cost of goods sold = Sales - LIFO Ending Inventory

                                      = $ 904500- $ 132500= $ 772000

Weighted  cost of ending inventory = ($428,000/20,000)*6500= $ 139100

Weighted cost of goods sold = Sales - Weighted  Ending Inventory

                                              =$ 904500-$ 139100= $765400

Scoresby Inc. tracks

Income Statement

                                       FIFO                  LIFO            Weighted Method

Sales                      $ 904500            $ 904500         $ 904500

Cost OF Good       $756000            $ 772000            $765400

Sold

Gross Profit           $ 148500             $ 132500             $ 139100

Less

<u>Operating expenses  $615,000         $615,000              $615,000 </u>

Net Loss                   (466,500)            (482,500)            (475,900)

4.LIFO minimizes taxes as it gives the lowest gross profit assigning the oldest values to ending inventory.

4 0
3 years ago
Which of the following is NOT a reason to invest your money?
Katen [24]
A. <span>It's safer just to keep it at home in a secure place.

This is a reason to NOT invest. The others are all reasons TO invest. </span>
8 0
3 years ago
If a bank invested $75 million in a two-year asset paying 12 percent interest per year and simultaneously issued a $75 million o
hammer [34]

Answer:

The net interest income in two years would $1,500,000  and $375,000

Explanation:

In order to calculate the net interest income in two years, we have to calcuate the following:

First we have to Calculate the interest income:

Year 1 = $ 75,000,000*12% = 9,000,000

Year 2 = $75,000,000*12% = 9,000,000

Also, we have to Calculate the interest expense

Year 1 = ·$75,000,000 * 10% = $7,500,000

Year 2 = $75,000,000 * (10%+1.5%) = $8,625,000

Finally we can calculate the Net Interest Income which is = Interest income - Interest expense

Hence interest income of Year 1 = $9,000,000 - $7,500,000 = $1,500,000

           interest income of Year 2 = $9,000,000 - $8,625,000 = $375,000

6 0
3 years ago
Jim was called to active duty in the military. Knowing that he would be out of the country for a year or more, he gave his siste
Mamont248 [21]

Answer: C. General agent

Explanation: A general agent is a person appointed to act on his behalf in a variety of activities such as home activities,business transactions etc this type of agent is usually contracted to do this kind of Activities especially when the person expected to carry out these sets of Activities will not be available for a given period. A general agent can be an organisation or an individual or group of persons who carry out tasks as specified by the principal.

3 0
3 years ago
When presenting solutions, Chris (a salesperson)often has to handle buyer resistance. Chris should think of buyer resistance as
Vadim26 [7]

Answer:

C) Positive

Explanation:

Although in the question it is stated that Chris, who is a salesman, manages the buyer resistance while presenting the solutions, the Chris also thinks that buyer resistance is a positive event

Thus, in the provided scenario, option c is right, as it does not satisfy all other options available

So the right option is c.postive

4 0
3 years ago
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