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vekshin1
2 years ago
10

Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5. 2%

. His original policy was set up using the premiums listed below. What is his new annual premium after the increase for the accident?.
Business
1 answer:
PSYCHO15rus [73]2 years ago
7 0

Premium is often paid by people based on some kinds of services offered.

From the picture attached, we can see Royce' premiums for the previous year, which were;

  • Bodily injury $22.50
  • Property damage $144.75
  • Collision $275.75
  • Comprehensive $100

If you add all together, the total premium of the policy was $543

Note that the premiums will increase by 5.2%,

therefore, the new total premium will be = $543 x 1.052 = $571.24

Learn more from

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Answer:

Interest Expenses $35,640, Interest payable $35,640

Explanation:

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Months passed till September = 9

Interest on notes accrued for 9 months = (594,000*8%*9/12) = $35,640

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Journal Entry                          Debit        Credit

Interest Expenses                $35,640

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2 years ago
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Answer:

25.55 days

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8 0
3 years ago
Which statement of cash flow method would require the disclosure of the noncash transaction of acquiring a factory financed enti
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The indirect method considers the net income as the starting point and prepare the inflow and outflow using adjustments.

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3 years ago
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Answer:

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3 years ago
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