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Rufina [12.5K]
3 years ago
11

. If Carissa Dalton has a $130,000 home insured for $100,000, based on the 80 percent coinsurance provision, how much would the

insurance company pay on a $5,000 claim
Business
1 answer:
aev [14]3 years ago
7 0

Answer:

$4,807.69

Explanation:

The first step is to calculate the requirement for coinsurance

= 80/100 × 130,000

= 0.8× 130,000

= 104,000

Therefore the amount in which the insurance person will pay can be calculated as follows

= 100,000/104,000 × 5000

= 0.96153×5000

= $4,807.69

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Cash $207,200 Salaries and wages expense (sales) $318,080 Inventory 599,200 Salaries and wages expense (office) 387,520 Sales re
yawa3891 [41]

Answer:

 condenced income statement  

   

net sales                                  4699520

cost of sales                          (3097360)

opening stock     599200  

purchase            3120320  

returns                   ( 16800 )

frieght in                     80640  

closing stock             (686000)  

gross profit                              1602160

other incomes                      299040

purchase discount  30240  

rent income                268800  

expenses                               (1092448 )

office salary                 387520  

sales salary                 31808  

sales discount         38080  

commission                 92960  

selling costs                 77280  

telephone costs         19040  

accounting service 36960  

utility costs                35840  

insurance                26880  

mascellaneous         8960  

advertising               60480  

delivery costs               104160  

casuality loss               78400  

depreciation-office 53760  

depreciation-sales         40320  

   

operating profit                        808752

interest expense         197120     (  197120 )

profit before tax                          611632

tax expense                                (122326.4)

profit after tax                                           <u>489305.6</u>

Explanation:

To get the net sales we take sales and minus sales return. The unearned sales are not to be recorded until they are earned and its performance obligation is satisfied. The balance sheet items such as common stock, cash do not belong in the statement of comprehensive incomes. T o calculate tax expense we take profit before tax and multiply by the tax rate.

8 0
3 years ago
The Affordable Care Act provides that individuals and families may take a tax credit called the ______ to help them purchase hea
scZoUnD [109]

The Affordable Care Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance.

<h3>What is Affordable Care Act? </h3>

The Affordable Care Act was enacted to reduce the cost of health insurance coverage for people who qualify for it.

The law of the Affordable Care Act make provision for premium tax credits and cost-sharing reductions to help the lower-income group.

Hence, the Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance through a health insurance exchange.

Therefore, the Option C is correct.

Read more about Affordable Care Act

<em>brainly.com/question/15003073</em>

7 0
2 years ago
Inventories held for sale in the normal course of business are classified in the balance sheet as?
Iteru [2.4K]

Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.

<h3>What is meant by current liability?</h3>

This is the term that is used to refer to all of the financial obligations that the customer would have to have due to themselves in the long run. These are the liabilities that are known to be dropped in the current assets and would then be settled in the course of a year.

Hence we can say that Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.

Read more on Current liabilities here: brainly.com/question/28039459

#SPJ1

4 0
1 year ago
Which of the following characterizes how conditions in China have challenged the world's food supply?
Ratling [72]

Answer:China is an extremely health conscious nation, and many people are vegetarians.

Explanation: i guessed

6 0
2 years ago
Find an equation of the line slope 2/3; through (-6,3)
Minchanka [31]
If you are given a point and the slope, use the point-slope formula.
m = 2/3
(x₁, y₁) = (-6, 3)

y - y₁ = m(x - x₁)

y - 3 = 2/3(x + 6)
y - 3 = 2/3x + 12/3
y - 3 = 2/3x + 4
y = 2/3x + 1

The equation of the line is y = 2/3x + 1.

4 0
3 years ago
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