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3 years ago

Match each type of insurance with an example of when the insurance

Business

1 answer:

Simora [160]3 years ago

8 0

Answer:

See below

Explanation:

Renter's insurance

Your stereo and computer are stolen from your apartment. Renters insurance is designed to offer protection against loss or damages to properties belonging to renters living in apartments or standalone units.

Liability coverage

You cause an accident that damages someone else's car. Provide financial protection against medical or damages claims against the policyholder if found at fault in an accident.

Health insurance

You go to the emergency room after a car accident. Take care of medical and other hospital-related expenses should the policyholder or their dependents require medical attention.

Disability Insurance

You have to take a month off from work because of a broken leg. Provide financial compensation against loss of income due to serious bodily injuries to the policyholder.

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Years ago in the overnight delivery business, providing package tracking capability gave some firms a competitive advantage. Now

Morgarella [4.7K]

When a company gains a competitive advantage over an action that becomes mandatory in the line of business, such as providing package tracking capability, this is an example of profitability factors becoming productivity factors over time.

<h3 /><h3>What are profitability factors?</h3>

It corresponds to factors that enable a company to be positioned and competitive in the market in which it operates, determined by internal and external agents, such as:

Demand force
Advertsing
Substitute products
Economy of scale
Costs

Therefore, an organization's profitability factors became productivity factors by instituting new forms of work management that generated competitive advantages for the organization.

So, the correct answer is:

D. Profitability factors; productivity factors.

Find out more information about profitability here:

brainly.com/question/16755022

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2 years ago

Valley Spa purchased $10,200 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 14% promissory note for $10,200.

zavuch27 [327]

Answer: Debit Accounts Receivable -Valley Spa of $10,438 Credit interest revenue $238, Credit Notes receivable $10,200

Explanation:

Interest Revenue = Principal x Rate X time

$10,200 x 14% x 60/ 360 ( Using 360 days in a year)

$238

Journal to record dishonored note for Tubman

Accounts titles and explanation Debit Credit

Accounts receivable $10, 438

Interest revenue $238

Notes receivable $10,200

8 0

3 years ago

Titon Sports, which produces footballs, has two departments: cutting and stitching. Footballs that have undergone the cutting pr

zhenek [66]

Answer:

We find the equivalent units for both Weighted Average Method and FIFO separately for cost calculations . These are given along as required.

Explanation:

Titon Sports

Equivalent Units

Weighted Average Method

Particulars Units % of Completion Equivalent Units

Materials --Conversion Materials --Conversion

Completed and

Transferred 52,000 100% 100% 52,000 52,000

Ending work

<u>in process 21,500 0% 20% Zero 4300 </u>

<u>Equivalent Units 52,000 56,300 </u>

Particulars Units % of Completion Equivalent Units

Transferred In Transferred In

Completed and

Transferred 52,000 100% 52,000

Ending work

<u>in process 21,500 100% 21,500</u>

<u>Equivalent Units 73500</u>

<u>Particulars </u> Transferred In Materials Conversion Total

Costs

Beginning WIP $ 45,360 $0 $17,660

<u>Total costs added $154,560 $28,080 $89,310</u>

<u>Total Costs 199920 $28,080 106970 </u> <u>$334970</u>

b. Conversion cost per equivalent unit during March

Total Conversion Costs/ Total Equivalent Units Conversion

= 106970/56,300 = $1.9 per Equivalent Unit

Materials cost per equivalent unit during March

Total Materials Costs/ Total Equivalent Units Materials

= 28080/52000 = $ 0.54 per Equivalent Unit

Transferred In cost per equivalent unit during March

Total Transferred In Costs / Total Transferred In Units

= 199920 / 73500 = 2.72

C. Cost Assigned To Transferred Out Goods $ 268,320

Materials = 52,000*0.54= $ 28080

Conversion = 52,000* 1.9= 98800

Transferred in Units = 2.72 * 52000= 141440

Cost Assigned To Ending Work In Process $66650

Conversion = 4300* 1.9= 8170

Transferred in Units = 2.72 * 21500= 58,480

C. Total Costs Assigned = Transferred Out + Ending = <u>$334970</u>

d. Conversion cost assigned to the ending work in process: $8170

Conversion = 4300* 1.9= 8170

<em>We see the difference between the weighted average and FIFO method is that the FIFO method only accounts for the current period costs not the total the costs.Where as the weighted method includes all the costs from preceeding department and also current costs.</em>

e.Titon Sports

Equivalent Units

FIFO Method

Particulars Units % of Completion Equivalent Units

Materials --Conversion Materials --Conversion

Completed and

Transferred 52,000 100% 100% 52,000 52,000

Ending work

in process 21,500 0% 20% Zero 4300

Less

<u>Equivalent Units 52,000 45,800 </u>

Particulars Units % of Completion Equivalent Units

Transferred In Transferred In

Completed and

Transferred 52,000 100% 52,000

Ending work

in process 21,500 100% 21,500

Less

<u>Equivalent Units 56000</u>

<u>f. </u>Materials cost per equivalent unit during March (FIFO)

Total Materials Costs/ Total Equivalent Units Materials

= 28080/52000 = $ 0.54 per Equivalent Unit

g. Cost Assigned To WORK In Process (FIFO) $ 8385

Conversion cost per equivalent unit during March

Total Conversion Costs/ Total Equivalent Units Conversion

= 89310/ 45,800 = $1.95 per Equivalent Unit

Conversion = 4300* 1.95= $ 8385

h. Cost Assigned To Transferred Out Goods $ 273,000

Materials = 52,000*0.54= $ 28080

Conversion = 52,000* 1.95= 101,400

Transferred In cost per equivalent unit during March

Total Transferred In Costs / Total Transferred In Units

= 154560 / 56,000 = 2.76

Transferred in Units Costs = 2.76 * 52000= 143520

8 0

3 years ago

Earth's Treasures Mining Co. acquired mineral rights for $93,000,000. The mineral deposit is estimated at 60,000,000 tons. Durin

Shkiper50 [21]

Answer and Explanation:

a. The computation of the depletion rate is shown below:

= Acquired mineral rights ÷ estimated mineral deposit

= $93,000,000 ÷ 60,000,000 tons

= $1.55 per ton

b. The amount of depletion expense for the current year is

= Depletion rate × current year mined tons

= $1.55 per ton × 16,800,000 tons

= $26,040,000

c. And, the journal entry is

Depletion expense $26,040,000

To Accumulated depletion $26,040,000

(Being depletion expense is recorded)

For recording this entry we debited the depletion expense as it increased the expenses and at the same time it decreased the value of the asset so the accumulated depletion is credited

4 0

4 years ago

Diane Bernick opened Bernick's Consulting. Transactions for the month of January and trial balance at January 31 are shown. Jan.

padilas [110]

1. The preparation of the Income Statement for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Income Statement </h3>

For the Month Ended January 31, 20--

Consulting Fees 401 $1,700

Wages Expense 511 1,400

Rent Expense 521 750

Phone Expense 525 65

Utilities Expense 533 115

Miscellaneous Expense 549 40 $2,370

Net income $670

2. The preparation of the Owner's Equity for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Owner's Equity</h3>

As of January 31, 20--

Diane Bernick, Capital 311 $11,000

Diane Bernick, Drawing 312 (450)

Net loss (670)

Owner's equity $9,880

3. The preparation of the Balance Sheet for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Balance Sheet</h3>

As of January 31, 20--

<h3>Assets:</h3>

Cash 101 $9,730

Office Supplies 142 200

Office Equipment 181 1,300

Total assets $11,230

<h3>Liabilities and equity:</h3>

Accounts Payable 202 $1,350

Owner's equity 9,880

Total liabilities and equity $11,230

Bernick’s Consulting

<h3>Trial Balance</h3>

January 31, 20--

ACCOUNT TITLE ACCOUNT NO. DEBIT CREDIT

Cash 101 $9,730

Office Supplies 142 200

Office Equipment 181 1,300

Accounts Payable 202 $1,350

Diane Bernick, Capital 311 11,000

Diane Bernick, Drawing 312 450

Consulting Fees 401 1,700

Wages Expense 511 1,400

Rent Expense 521 750

Phone Expense 525 65

Utilities Expense 533 115

Miscellaneous Expense 549 40

Totals 14,050 14,050

Learn more about preparing financial statements at brainly.com/question/22941895

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4 0

2 years ago