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1 year ago

An agent's attempt to stop the replacement of an existing life insurance policy or annuity is known as

1 answer:

4 0

The answer for this question is: Conservation
In most cases, conservation action in life insurance will be taken if a premium on a certain policy has been outstanding for a specific period of time.
In this case, to protect the company from any potential loss, they need to replace the insurance policy as soon as possible

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Collin has extracted the following balances from the ledger accounts for his business: (All amounts in $) Plant and machinery 95

zaharov [31]

Answer:

Carriage outwards: 7,520 debit

Explanation:

Accounts DEBIT CREDIT

Plant and machinery 95,000

Property 135,000

Inventory 6,400

Receivables 2,850

Payables 3,600

Bank overdraft 970

Loan 45,000

Capital 100,000

Drawings 32,000

Sales 362,000

Carriage outwards x

Purchases 156,000

Purchase returns 2,200

Discounts received 3,500

<u>Sundry expenses 82,500 </u>

TOTAL 509,750 517,270‬

We construct the trial balance and the carriage outwar balance will be the diference between debit and credit:

517,270 - 509,750 = 7,520

3 0

1 year ago

The Refining Department of SweetBeet, Inc. had 79,000 tons of sugar to account for in July. Of the 79,000 tons, 49,000 tons

Masja [62]

Answer:

79,000 tons

Explanation:

When you use the weighted average method for determining equivalent units, the total number of equivalent units = units completed and transferred out + equivalent units in ending inventory.

In this case, since the materials are added at the beginning of the production process, all the units are 100% complete regarding direct materials.

3 0

1 year ago

Determine proper classification (LO11-1) Wi-Fi, Inc., has the following selected transactions during the year. Required: Select

jekas [21]

Answer:

a. Operating activities (indirect method)

1. Pays a $20,000 account payable

2. Collects a $15,000 account receivable

3. Pays $75,000 to suppliers for inventory.

b. Investing activities

Purchases equipment for $

Loans $50,000 to a customer, accepting a note receivable.

c. Financing activities

Issues $20 million in bonds

Declares and pays a cash dividend of $100,000

d. A separate noncash activities note

Exchanges land for a new patent. Both are valued at $300,000.

Explanation:

The categorisation and their effects are explained as follows:

a. Operating activities (indirect method)

1. Pays a $20,000 account payable: This a cash outflow and its effect is a reduction in cash flow from operating activities.

2. Collects a $15,000 account receivable: This a cash inflow and its effect is an increase cash flow from operating activities.

3. Pays $75,000 to suppliers for inventory: This a cash outflow and its effect is a reduction in cash flow from operating activities.

b. Investing activities

1. Purchases equipment for $: This a cash outflow and its effect is a reduction in cash flow from investing activities.

2. Loans $50,000 to a customer, accepting a note receivable: This a cash outflow and its effect is a reduction in cash flow from investing activities.

c. Financing activities

1. Issues $20 million in bonds: This a cash inflow and its effect is an increase in cash flow from financing activities.

2. Declares and pays a cash dividend of $100,000: This a cash outflow and its effect is a reduction in cash flow from financing activities.

d. A separate noncash activities note

1. Exchanges land for a new patent. Both are valued at $300,000: This is a noncash transaction that neitheir leads to the outlow nor inflow of cash.

6 0

1 year ago

Turnbull Corp. is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash f

Sergio039 [100]

Answer:

$14 mil.

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator:

Cash flow in year 0 = $-30 million

Cash flow in year 1 = $13,000,000

Cash flow in year 2 = $23,000,000

Cash flow in year 3 = 29,000,000

I = 20%

NPV = $13,587,630

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

3 0

2 years ago

Your client, Keith Teal Leasing Company, is preparing a contract to lease a machine to Souvenirs Corporation for a period of 27

galina1969 [7]

Answer:

Souvenirs Corporation (Lessee)

A. Amortization Schedule

Beginning Balance Interest Principal Ending Balance

1 $430,300.00 $47,333.00 $3,007.44 $427,292.56

2 $427,292.56 $47,002.18 $3,338.26 $423,954.31

3 $423,954.31 $46,634.97 $3,705.46 $420,248.84

4 $420,248.84 $46,227.37 $4,113.06 $416,135.78

5 $416,135.78 $45,774.94 $4,565.50 $411,570.28

6 $411,570.28 $45,272.73 $5,067.71 $406,502.57

7 $406,502.57 $44,715.28 $5,625.15 $400,877.42

8 $400,877.42 $44,096.52 $6,243.92 $394,633.50

9 $394,633.50 $43,409.68 $6,930.75 $387,702.74

10 $387,702.74 $42,647.30 $7,693.14 $380,009.61

11 $380,009.61 $41,801.06 $8,539.38 $371,470.23

12 $371,470.23 $40,861.73 $9,478.71 $361,991.52

13 $361,991.52 $39,819.07 $10,521.37 $351,470.15

14 $351,470.15 $38,661.72 $11,678.72 $339,791.43

15 $339,791.43 $37,377.06 $12,963.38 $326,828.05

16 $326,828.05 $35,951.09 $14,389.35 $312,438.69

17 $312,438.69 $34,368.26 $15,972.18 $296,466.51

18 $296,466.51 $32,611.32 $17,729.12 $278,737.39

19 $278,737.39 $30,661.11 $19,679.32 $259,058.07

20 $259,058.07 $28,496.39 $21,844.05 $237,214.02

21 $237,214.02 $26,093.54 $24,246.89 $212,967.12

22 $212,967.12 $23,426.38 $26,914.05 $186,053.07

23 $186,053.07 $20,465.84 $29,874.60 $156,178.47

24 $156,178.47 $17,179.63 $33,160.81 $123,017.67

25 $123,017.67 $13,531.94 $36,808.49 $86,209.17

26 $86,209.17 $9,483.01 $40,857.43 $45,351.75

27 $45,351.75 $4,988.69 $45,351.75 -$0.00

Payment Every Year = $50,340.44

B. Journal Entries for first two years of the lease for the Lessee:

2020:

Debit Right of Use Asset $1,359,191.80

Credit Lease Liability $1,359,191.80

To record the lease for 27 years.

Debit Lease Liability $3,007.44

Debit Interest on Lease $47,333.00

Credit Cash $50,340.44

To record the lease interest expense.

2021:

Debit Lease Liability $3,338.26

Debit Interest on Lease $47,002.18

Credit Cash $50,340.44

To record the lease interest expense.

Explanation:

a) Data and Calculations

Cost of Machine = $430,300

Useful life of machine = 27 years

Salvage value = $0

Expected return on investment = 11%

Period of equal rental payments = 27 years

From the online financial calculator:

Payment Every Year = $50,340.44

Total of 27 Payments = $1,359,191.80

Total Interest = $928,891.80

Amortization Table shows that at the end of 27 years:

Principal = 32%

Interest = 68% of the total lease payments.

4 0

1 year ago