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Sergio [31]
3 years ago
10

William pays $500 premium every six months for automobile insurance with collision coverage. His deductible is $750. William cau

sed a minor accident that resulted in $700 of damage to his car and $1,100 of damage to the other car. Williams’s car looks and drives fine if he chooses not to file a claim to repair his car how much will you pay out-of-pocket to help the other cars fixed?
Business
2 answers:
stich3 [128]3 years ago
6 0

<span>A collision coverage type of insurance only the covers the cost that is incurred due to damage to your car. It does not include the cost for the other car. Therefore you will have to pay the total of $1,100</span>

Eva8 [605]3 years ago
5 0

ANSWER: $1,100

EXPLANATION: William had his insurance for his automobile but it is nowhere indicated that he had third party coverage. He had collision coverage which insured his car and saved his damage of $700. But he definitely needs to pay out-of-pocket the sum of $1,100 for the other car which got damaged in the accident.

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The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
balandron [24]

Answer:

TOTAL ASSETS $1,043,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

Explanation:

Preparation of a balance sheet for the Almway Corporation at December 31, 2021.

ALMWAY corporation

Balance sheet at December 31,2018

ASSETS

Current Assets

Cash and cash equivalent$47,000

($79,000-$32,000)

Short term investment $97,000

($144,000-$47,000)

Account receivable net of allowances $77,000

Inventories $217,000

Prepaid insurance $5,000

TOTAL CURRENT ASSETS $443,000

INVESTMENT

Marketable securities $47,000

Land held for sale $42,000

Restricted cash $32,000

TOTAL INVESTMENT $121,000

Plant property and equipment

Land $82,000

($124,000-$42,000)

Building $437,000

Accumulated deperation Building ($117,000)

Equipment $127,000

Accumulated deperation Equipment ($77,000)

NET PLANT PROPERTY AND EQUIPMENT $452,000

INTANGIBLE ASSETS

Patents ( net of amortization) $27,000

TOTAL ASSETS $1,043,000

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities

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Interest payable $37,000

Note payable due in 6 months $47,000

Current maturity of long term debt notes payable $13,400

TOTAL CURRENT LIABILITY $206,400

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Bond payable $257,000

TOTAL LONGTERM LIABILITIES $377,600

SHAREHOLDER EQUITY

Authorised 500,000 shares

Issued and outstanding shares $351,000

Retained earnings $108,000

Total shareholders equity $459,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

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Answer:

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