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bazaltina [42]
3 years ago
10

"Eva Stone's home in Chicago was recently gutted in a fire. Her living and dining rooms were destroyed completely, and the damag

ed personal property had a replacement price of $42,000. The average age of the damaged personal property was 4 years, and its useful life was estimated to be 13 years. What is the maximum amount the insurance company would pay Eva, assuming that it reimburses losses on an actual cash-value basis? Round the answer to the nearest cent."
Business
1 answer:
VLD [36.1K]3 years ago
4 0

Answer:

Maximum amount insurance company will pay =  $29,077 (Approx)

Explanation:

Given:

Amount of property replaced = $42,000

Average age [damaged personal property] = 4 years

Estimated life = 13 years

Find:

Maximum amount insurance company will pay

Computation:

Depreciation = $42,000[4/13]

Depreciation= $12,923 (approx)

Maximum amount insurance company will pay =  $42,000 - $12,923

Maximum amount insurance company will pay =  $29,077 (Approx)

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The transactions of Spade Company:
diamong [38]

Answer:

Trial Balance

                                                                                                    Debit     Credit

Cash                                                                                           $8,982

($16,500 - $479 + $1,947 - $9,125 - $530 + $1,469 - $800)  

Common Stock                                                                                        $16,500

Office Supplies                                                                             $479

Office Equipment                                                                      $9,125

Accounts Payable ($9.125 - $9,125)                                                            $0

Service Fees ($1,947 + $3,498)                                                               $5,445

Accounts Receivable ($3,498 - $1,469)                                  $4,967

Rent Expense                                                                              $530

Dividends                                                                                    $800

Totals                                                                                        $21,945  $21,945

Explanation:

A trial Balance is a list of balances that are extracted from the ledger accounts  from which the financial statements are prepared.

First Record the Transaction, then determine account balances.

a.

Cash $16,500 (debit)

Common Stock $16,500 (credit)

b.

Office Supplies $479 (debit)

Cash $479 (credit)

c.

Office Equipment $9.125 (debit)

Accounts Payable $9.125 (credit)

d.

Cash $1,947 (debit)

Service Fees $1,947 (credit)

e.

Accounts Payable $9,125 (debit)

Cash $9,125 (credit)

f.

Accounts Receivable $3,498 (debit)

Service Fees $3,498 (credit)

g.

Rent Expense $530 (debit)

Cash $530 (credit)

h.

Cash $1,469 (debit)

Accounts Receivable $1,469 (credit)

i.

Dividends $800 (debit)

Cash $800 (credit)

5 0
3 years ago
What was the ratio of per capita income in each of the following countries to that in the United States in the year 2010:
svet-max [94.6K]

Answer:

For   Countries (per capita)          United States of America (per capita)

<u> Ethiopia: </u>        

$380                                               $48,468

<u>Mexico:    </u>                                      

$9,271                                             $48,468

<u>India:</u>

$1,358                                             $48,468

<u>Japan:</u>

$44,508                                          $48,468

Explanation:

Ratio per Capita also known as Gross Domestic Product per Capita (GDP Capita) is the monetary measure of the market value of all the final goods and services produced in a specific time period within the country in view. <em>It is useful for comparing national economies of different countries on the international market.</em>

3 0
3 years ago
Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following i
Oxana [17]

Answer and Explanation:

The preparation of the operating activities section is shown below:

                                         Rodriguez Company

                             Statement of Cash Flows (partial)

Cash flows from operating activities:  

Net loss $ (6,400)  

Adjustments  

Add: Depreciation expenses $4,500

Add: Amortization of copyright $200

Add: Decrease in accounts receivable $5,000  

Add: Increase in salaries payable $11,000  

Less: Decrease in other current liabilities -$1,800

Net cash flow from operating activities $12,500

The negative sign reflects the cash outflow and the positive sign reflects the cash inflow

3 0
3 years ago
Which example envolves a real world restriction that can affect your decision making process?
lbvjy [14]
I think the answer is family disputes
7 0
3 years ago
The population of a country was 5.1 million people in 2008. three years later, the population of the same nation was 8.9 million
Anarel [89]
The answer of the country is now 12.7 and the answer of the year is to 2024
8 0
2 years ago
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