Homework Answers
In the property or casualty insurance industry ACV ( actual cash value) is used. It is the product of replacement cost and deprecitaon value.
So, Actual value of the loss= 1800* 50%= $900.
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13. Nicholas owns a laptop computer that was stolen. The...
1. Ashley purchased a dining room set for $5,000 and insured the furniture on an actual...
1. Ashley purchased a dining room set for $5,000 and insured the furniture on an actual cash value basis. Three years later, the property had depreciated in value by 50 percent. The replacement cost of loss was $6,000. ignoring any deductible, how much will Ashley collect from her insurer? 2. Nicholas owns a laptop computer that was stolen. The laptop cost $1,000 when it was purchased 5 years ago. A similar laptop computer today can be purchased for $500. Assuming...
Lorenzo is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. Unimproved...
Lorenzo is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. Unimproved land adjacent to the store was condemned by the city on February 1. The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Lorenzo has additional parking across the street and plans to use the condemnation proceeds to build his inventory. A truck used to deliver trampolines was sold on January 2 for $3,500. The truck was purchased...
insurance 9. Connie has a major medical policy with a $400 deductible and a 80-20 coinsurance (percentage participa...
insurance
9. Connie has a major medical policy with a $400 deductible and a 80-20 coinsurance (percentage participation) clause. If she has eligible medical expenses of $1,000, how much will be paid by her insurer? ) A) $400 B) $480 C) $640 D) $800 10. A property and casualty insurer's loss reserve includes estimates for all of the following EXCEPT A) claims anticipated but not yet incurred. B) claims reported and adjusted but not yet paid. C) claims reported and...
PROPERTY TRANSACTIONS FOR WEEK 4 :TAX FORM COMPUTATION Lorenzo is the sole proprietor of a trampoline...
PROPERTY TRANSACTIONS FOR WEEK 4 :TAX FORM COMPUTATION Lorenzo is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. Unimproved land adjacent to the store was condemned by the city on February 1. The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Lorenzo has additional parking across the street and plans to use the condemnation proceeds to build his inventory. A truck used to deliver trampolines was sold on...
For each transaction, what are the amounts in nature of recognize game or loss? What is...
For
each transaction, what are the amounts in nature of recognize game
or loss?
What is Lorenzo's 2019 adjusted gross income?
Lorenzo is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. 1. Unimproved land adjacent to the store was condemned by the city on February 1. The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Lorenzo has additional parking across the street and plans to use the condemnation...
78. LO.8, 9, 10 Larry is the sole proprietor of a trampoline shop. During 2018, the...
78. LO.8, 9, 10 Larry is the sole proprietor of a trampoline shop. During 2018, the fol- lowing transactions occurred: Unimproved land adjacent to the store was condemned by the city on February 1 The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Larry has additional parking across the street and plans to use the condemnation proceeds to build his inventory. A truck used to deliver trampolines was sold on January 2 for...
13-45 A professor of engineering economics owns an older car. In the past 12 months, he has paid $2,000 to replace the...
13-45 A professor of engineering economics owns an older car.
In the past 12 months, he has paid $2,000 to replace the
transmission, bought two new tires for $160, and installed a CD
player for $110.
Please show all your work. The answers are attached in the
second picture! Please only post if you get those answers.
13-45 A professor of engineering economics owns an older E car. In the past 12 months, he has paid $2000 to replace the...
please use excel to answer the questions and show all outputs E3) The Erley Equipment Company...
please use excel to answer the questions and show all
outputs
E3) The Erley Equipment Company purchased a machine 5 years ago at a cost of $100,000. The machine had an expected life of 10 years at the time of purchase, and an expected salvage value of $10,000 at the end of the 10 years. It is being depreciated by the straight line method toward a salvage value of $10,000, or by $9,000 per year. A new machine can be...
The Central Florida Computer Company Central Florida Computer Co. (CFCC), a leading manufacturer of IBM look-alike...
The Central Florida Computer Company Central Florida Computer Co. (CFCC), a leading manufacturer of IBM look-alike computers, is considering the installation of a new production line to manufacture clones of IBM computers. Mike Stoltz, the newest financial analyst, is evaluating the proposal in the spring of 2000, with anticipated initial investment occurring at the end of 2000 and the first revenue arriving at the end of 2001. The proposed portion of the plant that company owns was identified last year...
PLEASE ANSWER ALL QUESTIONS B,C,D ICIU Simar to) Question Help Calculating project cash flows and NPVThe Guo C...
PLEASE ANSWER ALL QUESTIONS B,C,D
ICIU Simar to) Question Help Calculating project cash flows and NPVThe Guo Chemical Corporation is considering the purchase of a chemical analysis machine. The purchase of this machine wilt in an increase in camings before terest and lanes of $60.000 per year. The machine has a purchase price of $100,000, and it would cost an tional $9,000 after tax to install this machine correctly. In addition to operatoris machine property Inventory must be increased by...
insurance
9. Connie has a major medical policy with a $400 deductible and a 80-20 coinsurance (percentage participation) clause. If she has eligible medical expenses of $1,000, how much will be paid by her insurer? ) A) $400 B) $480 C) $640 D) $800 10. A property and casualty insurer's loss reserve includes estimates for all of the following EXCEPT A) claims anticipated but not yet incurred. B) claims reported and adjusted but not yet paid. C) claims reported and...
For
each transaction, what are the amounts in nature of recognize game
or loss?
What is Lorenzo's 2019 adjusted gross income?
Lorenzo is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. 1. Unimproved land adjacent to the store was condemned by the city on February 1. The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Lorenzo has additional parking across the street and plans to use the condemnation...
78. LO.8, 9, 10 Larry is the sole proprietor of a trampoline shop. During 2018, the fol- lowing transactions occurred: Unimproved land adjacent to the store was condemned by the city on February 1 The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Larry has additional parking across the street and plans to use the condemnation proceeds to build his inventory. A truck used to deliver trampolines was sold on January 2 for...
13-45 A professor of engineering economics owns an older car.
In the past 12 months, he has paid $2,000 to replace the
transmission, bought two new tires for $160, and installed a CD
player for $110.
Please show all your work. The answers are attached in the
second picture! Please only post if you get those answers.
13-45 A professor of engineering economics owns an older E car. In the past 12 months, he has paid $2000 to replace the...
please use excel to answer the questions and show all
outputs
E3) The Erley Equipment Company purchased a machine 5 years ago at a cost of $100,000. The machine had an expected life of 10 years at the time of purchase, and an expected salvage value of $10,000 at the end of the 10 years. It is being depreciated by the straight line method toward a salvage value of $10,000, or by $9,000 per year. A new machine can be...
The Central Florida Computer Company Central Florida Computer Co. (CFCC), a leading manufacturer of IBM look-alike computers, is considering the installation of a new production line to manufacture clones of IBM computers. Mike Stoltz, the newest financial analyst, is evaluating the proposal in the spring of 2000, with anticipated initial investment occurring at the end of 2000 and the first revenue arriving at the end of 2001. The proposed portion of the plant that company owns was identified last year...
PLEASE ANSWER ALL QUESTIONS B,C,D
ICIU Simar to) Question Help Calculating project cash flows and NPVThe Guo Chemical Corporation is considering the purchase of a chemical analysis machine. The purchase of this machine wilt in an increase in camings before terest and lanes of $60.000 per year. The machine has a purchase price of $100,000, and it would cost an tional $9,000 after tax to install this machine correctly. In addition to operatoris machine property Inventory must be increased by...
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