GA PROPERTY & CASUALTY (33)

ss

Wind damage occurs to your car costing $1,700 to repair. If you have a $110 deductible for collision and full coverage for comprehensive, what portion of the claim will the insurance company pay? Multiple Choice $850 $1,590 $110 $1,810 $1,700

Do not give image format

Question 14 of 15. Lorissa placed a rental in service on January 4, 2021. Her basis is $200,000 for the house only. On January 22, 2022, she replaced the furnace for $3,000. The January mid-month percentage is 3.485% for year 1 and 3.636% for year 2. What is the total amount of depreciation Lorissa will claim for 2022? $105 $7,272 $7,377 $7,381

help asap

grant is a zero-interest loan for 5 years evidenced by a balan government Ja lance P200,000 go The machie is to be deprecia It Required: i the asset. Problem 24-6 (IAA) Zephyr Company is provided a grant by a foreign gover for the purpose of acquiring land for a building site ent grant is a zero-interest loan for 5 years evidenced he promissory note. The loan was granted on January 1, 2020 for P8,000;000 Th. market rate of interest is 6%. The present value of 1 for f periods at 6% is .7473. Required: Prepare journal entries for 2020 and 2021.

Required Informatlon [The following information applies to the questions displayed below.] Javier and Anita Sanchez purchased a home on January 1 of year 1 for $1,000,000 by paying $200,000 down and borrowing the remaining $800,000 with a 6 percent loan secured by the home. The Sanchezes made interest-only payments on the loan in years 1 and 2. (Leave no answer blank. Enter zero if applicable.) c. Assume year 1 is 2020 and by the beginning of year 4, the Sanchezes have pald down the principal amount of the loan to $500,000. In year 4, they borrow an additional $100,000 through a loan secured by the home in order to finish their basement. The new loan carries a 7 percent interest rate and is termed a "home equity loan" by the lender. What amount of interest can the Sanchezes deduct on the $100,000 loan? Maximum deductible interest expense

answer in text form please (without image)

Jay  Don't upload any image

Can you help me with accounting questions

Calculate the amount to be paid (in $) by the insurance company for the claim. (Round your answer to the nearest cent.) Amount of Loss Insurance Company Will Pay Replacement Value of Building $340,000 Submit Answor Face Value Coinsurance Amount of Policy Clause (%) of Loss $300,000 90 $115,000 $ X

1. On January 1, 2023, Malone purchased a building with a $200,000 10 year zero interest note. The normal borrowing rate for Malone is 10%. (you will need to use TVM and an amortization table) A. Compute the present value and prepare an amortization table. B. Record the necessary journal entries at 1/1/23, 12/31/23 and 12/31/24 using the effective interest method. C. Show the financial statement presentation of the note on the I/S and B/S at 12/31/23 and 12/31/24. 2. On October 1, 2023, Malone borrowed $50,000 by issuing a 11 month, 9% note. Interest will be paid at maturity. (you do NOT need to use TVM or an amortization table) A. Record the journal entries at 10/1/23, 12/31/23 and maturity. B. Show the financial statement presentation of the note on the I/S and B/S at 12/31/23 and 12/31/24. 3. During 2023 Jones sells products that carry a three-year manufacturer’s warranty. Jones sold 2,000 units this year for $2,000 each. For this year’s sales, Jones estimates the warranty costs to…

On December 31, 2020, Faital Company acquired a computer from Plato Corporation by issuing a $600,000 zero-interest-bearing note, payable in full on December 31, 2024. Faital Company's credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to have a 5-year life and a $70,000 salvage value. Instructions (Round answers to the nearest cent.) a.    Prepare the journal entry for the purchase on December 31, 2020. b.    Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2021. c.    Prepare any necessary adjusting entries relative to depreciation and amortization on December 31, 2022.

Oo.185. Subject : - Account

Ef 93.

Print Rem A building with an appraisal value of $154,000 is made available at an offer price of $172,000. The purchaser acquires the property for $40,000 in cash, a 90-day note payable for $45,000, and a mortgage amounting to $75,000. The cost basis recorded in the buyer's accounting records to recognize this purchase is O $172,000 ON $160,000 Oc 1154,000 Od $120,000

E-F:12-19 Preparing an amortization schedule and recording mortgages payable entries Marley Company purchased a building and land with a fair value of $500,000 (building, $400,000, and land, $100,000) on January 1, 2025. Marley Company signed a 20-year, 6% mortgage payable. Marley Company will make monthly payments of $3,582.16. Round to two decimal places. Explanations are not required for journal entries. Requirements 1. Journalize the mortgage payable issuance on January 1, 2025. 2. Prepare an amortization schedule for the first two payments. 3. Journalize the first payment on January 31, 2025. 4. Journalize the second payment on February 28, 2025.

The insured has divided the insurance on its building as follows: $200,000 with insurer M and $300,000 with insurer R. The If there is a $100,000 loss, insurer M will pay: OA $40,000 OB. $60,000 C $66,666 $100,000 D.

Please solve With Explanation and Do not Give image format