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2 years ago

What should you expect to get from your insurance company in exchange for your premium?

Business

1 answer:

Sergeu [11.5K]2 years ago

5 0

Answer:

see below

Explanation:

Premiums are the regular payments the insured pays to the insurance company for insurance coverage. By paying premiums, the insurance company agrees to compensate the insured for any financial loss resulting from the risk covered by the insurance contract.

Premiums are the cost of insurance. The customer pays premiums while the insurances undertake the risk stated in the policy documents. Should the customer suffer damages, injuries, or financial loss, the insurance companies compensate the customer as per the terms stated in the insurance contract.

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On January 1, 2021, Splash City issues $340,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and

Evgesh-ka [11]

Answer:

Dr cash $310,831

Dr discount on bonds payable $29,169

Cr bonds payable $340,000

On 30th June 2021

Dr interest expense $ 15,542

Cr cash $15,300

Cr discount on bonds payable $242

On 31st December 2021

Dr interest expense $ 15,554

Cr cash $15,300

Cr discount on bonds payable $254

Explanation:

The bond issued at a discount is the first bond whose cash proceeds of $310,831 were less than face value of $340,000.

Discount=face value -cash proceeds=$340,000-$310,831=$29,169.00

Find attached bond amortization schedule.

Download xlsx

7 0

3 years ago

Worthington Chandler Company purchased equipment for $12,000. Sales tax on the purchase was $800. Other costs incurred were frei

insens350 [35]

Answer:

d. $13,575

Explanation:

The cost of the equipment includes all the cost incurred to bring the equipment to a state where it becomes available for use.

These costs are the cost of the equipment, sales tax, freight, repairs during installation and installation cost.

Therefore,

Cost of the equipment = $12,000 + $800 + $200 + $350 + $225

= $13,575

The right option is d. $13,575.

3 0

3 years ago

Creating a chart using a spreadsheet Chart Wizard involves four steps. Which is the first step?

ycow [4]

Making a line for ur chart i'm guessing

8 0

3 years ago

Read 2 more answers

Sheffield Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution.

vlabodo [156]

Answer:

SHEFFIELD LABORATORY

PATENT (NO. 78-6002-1A)

Carrying value as at Dec 31

2011 2015 2018

Cost $182,300 $349,000 $385,000

Amortization (10,724) (79,433) (142,403)

171,576 269,567 242,597

Cost

As at 31 Dec 2011

Design and construction of a prototype $89,000

Testing of models 40,600

Fees paid engineers and lawyers to prepare application 52,700

$182,300

As at 31 Dec 2012

Cost as at Jan 1, 2012 $182,300

Additional cost during the year:

Engineering activity necessary to advance. $84,500

$266,800

As at 31 Dec 2013

Cost as at Jan 1, 2013 $266,800

Additional cost during the year:

legal fee paid $40600

$307,400

As at 31 Dec 2014

Cost as at Jan 1, 2013 $307,400

Additional cost during the year:

Research aimed at modifying the design $41,600

$349,000

As at 31 Dec 2018

Cost as at Jan 1, 2018 $349,000

Additional cost during the year:

legal fee paid in unseccesful patent infrigement. $36,000

$385,000

Amortization for the year

Dec 31 2011 $182,300/17 = $10,724

Dec 31 2012

182,300/17 10,724

84,500/0 -

10,724

Dec 31 , 2013 :

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/0 = -

16,005

Dec 31 2014 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

20,990

Dec 31 2018 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

36,000/0 = -

20,990

Explanation:

5 0

3 years ago

A business impact analysis (BIA) identifies threats, vulnerabilities, and potential attacks to determine what controls can prote

Anna11 [10]

Answer:

The correct answer is: False.

Explanation:

To begin with, the name of "Business Impact Analysis" or BIA, in the field of business, refers to the strategy or process that focus on the analysis of the organization when an emergency happens and to see how that surprise event has affected the company's operations. So that is why that this method determines and evaluates all the potential effects that the disaster had on the structure of the organization and how that impact could be resolve by the managers and the whole crew of employees.

7 0

3 years ago