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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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3 years ago
Imagine you've just gotten the first glimpse at your upcoming report card or transcript. 1. What are your steps for reviewing it
ludmilkaskok [199]

Answer:

Steps to Reviewing it:

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  2. Look at the individual grades for the various subjects by semester then by GP.
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Sections drawn to:

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Important to me

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4 0
2 years ago
Craft, Inc. normally produces between 120,000 and 150,000 units each year. Producing more than 150,000 units alters the company'
yawa3891 [41]

Answer:

Relevant Range

Explanation:

The production range between 120000 and 150000 is called the "Relevant range".

This production range is called Relevant range because the expected fixed cost will not vary if the production is in the range 120000 to 150000.

Also, the for increase in production more than 150000 will lead to the extra cost or if the production is less than 120000 the company may need to reduce its fixed cost.

6 0
3 years ago
Understanding a target customer base allows a company to
Sever21 [200]
B is the answer.

Hope this helps.
6 0
3 years ago
Read 2 more answers
Mill Co.’s allowance for credit losses was $100,000 at the end of Year 2 and $90,000 at the end of Year 1. For the year ended De
MatroZZZ [7]

Answer:

The amount worth $6,000 will be debited to the account in Year 2

Explanation:

When the uncollectible accounts are written off, then the debit is created to the allowance and the credit to the accounts receivable. The starting balance in the allowance account is $90,000 and the ending balance is $100,000 and the expense of bad debt is $16,000

The write off is computed as:

Write off = Beginning balance + Bad debt expense - Ending balance

= $90,000 + $16,000 - $100,000

= $106,000 - $100,000

= $6,000

Therefore, the amount of $6,000 is to be write off in Year 2

7 0
3 years ago
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