Each of the following items would drive the need for layout planning except _____

Wholesale insurance brokers (also called excess and surplus lines brokers) are intermediaries between:

valina [46]

Answer:

3. an insurance agent and an insurance company

Explanation:

Insurance simply means protection from financial loss.

Types of insurance are:

1. Property insurance

2. Life or personal insurance

3. Marine insurance

4. Fire insurance

5. Liability insurance

6. Social insurance

7. Guarantee insurance

Insurance Agents are people that work for insurance companies to reach out to new and existing customers to sell insurance. An insurance agent acts as an intermediary between an insured and the marketplace

An insured means a person or organization covered by insurance. They are like consumers.

Insurance company (insurer) is a business that provides coverage, in the form of compensation resulting from loss, damage or injury, treatment or hardship in exchange for premium payments.

Wholesale Broker is a type of insurance broker who acts as an intermediary between a retail broker (insurance agent ) and an insurer while having no contact with the insured

6 0

3 years ago

Indigo Corporation began operations in 2017 and reported pretax financial income of $228,000 for the year. Indigo’s tax deprecia

emmainna [20.7K]

Answer:

Deferred Tax Liability = $11,400 Credit

Explanation:

given data

pretax financial income = $228,000

Indigo’s tax depreciation = $38,000

tax rate = 30 %

solution

we know here that Income Tax Expense is

Income Tax Expense = $228,000 × 30%

Income Tax Expense = $68400 Dr

so as that

Deferred Tax Liability will be here

Deferred Tax Liability = $38000 × 30%

Deferred Tax Liability = $38000 × 0.30

Deferred Tax Liability = $11,400 Credit

7 0

3 years ago

When preparing the statement of cash flows using the indirect method, which statement is INCORRECT? A. Losses on the sale of l

ExtremeBDS [4]

Answer:

The correct answer is Option A.

Explanation:

A. Losses on the sale of longminusterm assets are subtracted from net income - This is incorrect because on losses on sale of an asset are usually added to the net income to avoid double-counting of income. Under the investing section of the cash flows, the proceed received on disposal is recorded there as inflow, if the losses realized on the disposal are subtracted, there would be a double-counting because the losses had already reduced the net income before.

B. Increases in current liabilities are added to net income - This is an inflow of cash, so it is usually added back.

C. Depreciation expense is added to net income - The explanation under Option A above applies but only that depreciation is a non-cash item, which already reduced the net income and it has to be added back to reinstate the net income.

D. Gains on the sale of longminusterm assets are subtracted from net income - Explanation under Option A applies.

3 0

3 years ago

Alpaca Corporation had revenues of $250,000 in its first year of operations. The company has not collected on $18,900 of its sal

Sever21 [200]

Answer:

$84,360.00

Explanation:

The cash balance at the end of the year is simply total cash receipts minus total cash payments which is further analyzed below:

Cash receipt from sales=total sales-accounts receivable=$250,000-$18,900=$ 231,100.00

Cash paid for merchandise purchase=purchases-accounts payable=$96,000-$27,000=$69,000

Salaries paid $12,700

Cash from owners is $14,000

cash from borrowing is $14,000

interest paid is $3800

insurance paid is $7,800

Tax paid=(sales-purchases-salaries paid-insurance cost(one year)-interest paid)*tax rate

insurance for one year=$7800*1/2=$3,900

tax paid=($250,000-$96,000-$12,700-$3,800-$3,900)*40%=$53440

Cash balance=$231,100-$69,000-$12,700+$14,000-$14,000-$3800-$7800-$53440=$84,360.00

4 0

3 years ago

Please help me

Dvinal [7]

D.going into debt to buy a large number of vehicles for the military. Fiscal policy centers around tax rates and government spending.

6 0

3 years ago

Each of the following items would drive the need for layout planning except ______.