Answer:
B) The promise to pay in the event of a covered claim
Explanation:
The promise to pay in the happening of a covered claim apparently describes the promise to pay in the process of covered claim. In insurance matter of contracts, the insurer assures to pay for covered losses which the insured suffers and the insured promises to do what the contract says and pay the premium. Most non insurance contracts are fluctuating contracts. The amount of attention given by both parties are almost equivalent.
Answer:
51,000
Explanation:
Beginning WIP 0
Started into Production (60,000+15,000)
Total Units 75,000
Transferred Out (60,000 – 15,000)
= 45,000 = 45,000 equivalent conversion units
Ending WIP 15,000
= 15,000 * .4 = 6,000
45,000+6000 =51,000
Total Units 75,000 = 51,000 conversion total equivalent units
Therefore the equivalent units of production for conversion costs for the month of July is 51,000
Answer:
March 1, purchased securities from Benton Corporation:
Dr Investment in securities 500,000
Cr Cash 500,000
May 1, sold half of securities plus accrued interest:
Dr Cash 248,550
Dr Loss on investment in securities 5,000
Dr Brokerage fees 200
Cr Investment in securities 250,000
Cr Interest revenue 3,750
Securities were sold at 98 or $250,000 x 98% = $245,000, which means that the company lost $5,000 with that investment.