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Soloha48 [4]
3 years ago
12

Which part of an insurance application will contain information regarding the cause of death of the applicant's deceased relativ

e
Business
1 answer:
gladu [14]3 years ago
3 0

Answer:

Medical Information

Explanation:

Medical Information of the application includes certain information on the  insured's prospective medical background, his or her present health conditions, any kind of visits to the medical in the recent years, the medical status of the living relatives, and also causes of death of the deceased relatives.

The medical information are used by the insurance companies to underwrite the policies.

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On June 10, Blossom Company purchased $7,100 of merchandise from Sunland Company, terms 4/10, n/30. Blossom Company pays the fre
Marysya12 [62]

Answer:

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

Cr Cash $6,240

Cr Inventory $260

Explanation:

Preparation of a separate journal entries for each transaction on the books of Blossom Company.

Books of Blossom Company

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

($7,100-$600)

Cr Cash $6,240

($6,500-$260)

Cr Inventory $260

(4%*$6,500)

8 0
3 years ago
Ball bearings,inc. faces costs of production as follows:
hichkok12 [17]
<span>Ball bearings can face both fixed and variable costs of production. If we take a look at the fixed costs these would be: the cost of the factory, the cost of the machine, the maintenance of the machine which are needed to create the ball bearings etc. The variable costs are: the wages of the employee, the cost of the raw materials, and utilities required to create the ball bearings.</span>
8 0
3 years ago
Read 2 more answers
The gross profit method of inventory valuation is invalid when a. A portion of the inventory is destroyed b. There is a substant
IgorC [24]

Answer:

d. Applying a blanket gross profit rate to merchandise that have wide varying rates of gross profit

Explanation:

To know what problem could arise fro mthis method, we must understand the method:

ending inventory = cost available for sales - sales x (1- gross profit)

being cost available for sales = beginning invnetory + purchases

a) if a portion of inventory is destroyed, then we subtract it from the cost available for sales and we should be okay.

b) the amount of purchase is being considered so it will not produce a distorsion

c) then beginning invnetory equals to zero in the formula of cost availalbe and we are also okay

d) here is the problem, if there is a wide array of gross profit we could do an average but it will lead to distorsion if the sales are not in the expected weight.

5 0
3 years ago
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $211,500. The following additional
Aloiza [94]

Answer:

$153,900

Explanation:

Calculation the amount that Plunkett should report in ending inventory on December 31

31 December Ending Inventory=$211,500 - $43,300 - $14,300

31 December Ending Inventory=$153,900

Therefore the amount that Plunkett should report in ending inventory on December 31 is $153,900

6 0
3 years ago
The main objective of lean manufacturing is to:
Finger [1]

Answer: Option B  

Explanation: In simple words, lean manufacturing refers to the manufacturing process in which the production firm focuses on minimizing the waste that occurs in the production process and also increases the productivity at the same time.

This system was first implemented in Japanese manufacturing industry and lead to decrease in cost of production significantly. Such kinds of manufacturing is highly evident in industries prancing goods such as clothes, shoes etc.

This strategy also decreases the production cycles and increase the respond time of the firm to the market.

6 0
3 years ago
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