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dem82 [27]
2 years ago
11

Handmade Soaps Company had operating expenses of $52,000. At the beginning of the year, Handmade Soaps owed $15,000 on accrued l

iabilities. At year-end, accrued liabilities were $5,000. How much cash did Handmade Soaps pay for operating expenses
Business
1 answer:
Softa [21]2 years ago
3 0

Answer:

Cash Paid = $62000

Explanation:

To calculate the amount of cash paid by the business for operating expenses during the year, we use the following equation.

Cash Paid = Opening Accrued liability + Operating expenses for the year - Closing Accrued Liability

By plugging in the values for opening accrued liabilities, operating expenses for the year and closing accrued liabilities in the above formula, we can calculate the amount of cash paid for operating expenses.

Cash Paid = 15000 + 52000 - 5000

Cash Paid = $62000

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kolbaska11 [484]

The reason for risk pooling which is beneficial for the insurance industry is best described as it brings together many individuals' premiums so that there is money to cover a selected few losses.

Option B is the correct answer.

<h3>Who is a policyholder?</h3>

The policyholder is an individual who takes an insurance policy from an insurance company. He pays insurance premiums against their respective policies.

The insurance contract is an agreement between the individuals and insurance company to indemnify them at the happening of the specified event and individuals also agreed to pay the insurance premiums on time. The risk pooling allows the insurance company to get insured many people against a small amount of money called an insurance premium.

Therefore, risk pooling is valuable for the insurance company in respect of the insurance policies.

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7 0
2 years ago
On January 1, 2022, Austin Company received a 12-month, $100,000 note with a stated rate of 7%. On April 30, 2022, Austin discou
Olin [163]

Answer:

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8 0
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When you are applying for a job, it’s fine to post this kind of personal information on websites? A) Your personal security numb
Katen [24]

Answer:

C

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Answer:

I would say it B ............

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