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3 years ago

Explain the most well known service provided by insurance companies

Business

1 answer:

lisov135 [29]3 years ago

7 0

Answer:

Life insurance

Explanation:

Most experts would agree that in order life, health, long-term disability, and auto insurance are the four types of insurance you must have.

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Classify the following as fixed or variable costs:

sergeinik [125]

Answer:

a. Fuel Interest on company-issued bonds FIXED

b. Shipping charges VARIABLE

c. Payments for raw materials VARIABLE

d. Real estate taxes FIXED

e. Executive salaries FIXED

f. Insurance premiums FIXED

g. Wage payments VARIABLE

h. Depreciation and obsolescence charges FIXED

i. Sales taxes VARIABLE

j. Rental payments on leased office machinery FIXED

Explanation:

Fixed costs are the cost of an organization that don´t change with the amount of production. So , if the production is 0, this cost will exist anyway. For example: real estate taxes, rental

6 0

3 years ago

A company purchased a 12 month insurance policy on October 1 for $1,200. On the December 31 annual financial statements, ______.

Naily [24]

Answer:

$300 is reported as a expense

Explanation:

and $900 is reported as an asset hope this helps you :) god loves you :)

7 0

3 years ago

Nelter Corporation, which has only one product, has provided the following data conceming its most recent month of operations:

mixer [17]

Answer:

Nelter Corporation

Contribution format income statement for the month using variable costing

Sales ($108 x 3,000) $324,000

Less Cost of Sales ($138,000)

Contribution $186,000

Less Expenses

Fixed manufacturing overhead $64,530

Fixed selling and administrative $9,000

Variable selling and administrative (14 x 3,000) $42,000 ($115,530)

Net Income (loss) $70,470

Nelter Corporation

Income statement for the month using absorption costing

Sales ($108 x 3,000) $324,000

Less Cost of Sales ($219,000)

Gross Profit $105,000

Less Expenses

Fixed selling and administrative $9,000

Variable selling and administrative (14 x 3,000) $42,000 ($51,000)

Net Income (loss) $54,000

Explanation:

<u>Calculation of Ending Units</u>

Beginning Inventory 955

Add Production 2,390

Total Available for Sale 3,345

Less Sales (3000)

Ending Inventory 345

<u>Variable Costs Calculations</u>

Product Cost = Variable Manufacturing costs

= $25 + $20 + $1

= $46

Cost of Sales = units sold x product cost

= 3,000 x $46

= $138,000

<u>Absorption Cost Calculation</u>

Product Cost = Variable Manufacturing costs

= $25 + $20 + $1 + ($64,530 / 2,390)

= $25 + 20 + $ 1 + $27

= $73

Cost of Sales = units sold x product cost

= 3,000 x $73

= $219,000

8 0

3 years ago

which type or types of inventory timing system requires the user to record two journal entries every time a sale is made.

NeTakaya

According to the claim, a perpetual inventory timing system necessitates that the user enter two journal entries for each transaction.

<h3>What are commercial sales?</h3>

Business Sales refers to the in-home sale of Company Products by the Company or its Affiliates. Business Sales refers to sales made while conducting business, and (ii) GAAP must be followed when determining whether a corporate sale has already been completed before or after the closing.

<h3>What is a job in sales?</h3>

Presenting and marketing products and services prospective potential consumers is a part of the sales profession. You are frequently responsible for generating leads and hitting sales goals when working in sales.

To know more about sales visit:

brainly.com/question/28147419

#SPJ4

8 0

1 year ago

The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows:

Simora [160]

Answer:

Patrick Corporation Group

a. The amount of total assets is:

= $1,544,000.

b. The amount of total stockholders' equity that should be reported is:

= $1,136,000.

Explanation:

a) Data and Calculations:

BALANCE SHEETS December 31, 2017

Patrick Sean Consolidated

Cash $70,000 $70,000 $140,000

Accounts receivable (net) 146,000 38,000 184,000

Inventories 100,000 46,000 168,000

Plant and equipment (net) 622,000 262,000 884,000

Investment in Sean 470,000 - -

Goodwill 168,000

Total assets $1,414,000 $424,000 $1,544,000

Accounts payable 176,000 90,000 266,000

Long-term debt 102,000 40,000 142,000

Common stock ($10 par) 340,000 64,000 340,000

Additional paid-in capital 14,000

Retained earnings 796,000 216,000 796,000

Total liabilities and

shareholders' equity $1,414,000 $424,000 $1,544,000

b) Total stockholders' equity after consolidation is calculated as:

Common stock ($10 par) 340,000

Retained earnings 796,000

Total equity = $1,136,000

5 0

3 years ago