11. Joe's office building with a $250,000 value has a rating of 2 with a building classification of A. The contents in the building are valued at $90,000. By using the tables in the handbook, the total annual premium is: A. $550 B. $2,584 C. $1,722 D. $1,248 E. None of the above

11. Joe's office building with a $250,000 value has a rating of 2 with a building classification of A. The contents in the building are valued at $90,000. By using the tables in the handbook, the total annual premium is: A. $550 B. $2,584 C. $1,722 D. $1,248 E. None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: A property was purchased for $5000.00 down and payments of $2500 at the end of every six month for…

A: Cost of financing is that amount which is paid by the borrower for financing the assets. It is that…

Q: Manufacturers Southern leased high-tech electronic equipment from International Machines on January…

A: To calculate the present value of a lease, you'll need the following information:Lease term: The…

Q: 50,000. • The UCC on building 2 at the beginning of 2021 was $40,000. • Property 2 was sold in 2021…

A: Thato Smit own rental property Original value = $275000 Property 1 : Land = $70000 Building =…

Q: Manufacturers Southern leased high-tech electronic equipment from International Machines on January…

A: The recurring financial obligations made by a lessee (the person or business leasing an asset) to a…

Q: Replacement Value of Building $340,000 Face Value of Policy $300,000 Coinsurance Amount Clause (%)…

A: Answer : Replacement value of the building = $340,000 Coinsurance clause = 90% Insurance required =…

Q: What is the net rent income for the current year? * a. 275,000 b. 290,000 c. 350,000 d. 365,000

A: An operating lease is a type of lease under which there is a contract and it is through this…

Q: Eye Deal Optometry leased vision-testing equipment from Insight Machines on January 1, 2024. Insight…

A: A lease may classified as a capital lease or an operating lease from a lessor's point of view. A…

Q: An Asseb has Cost $lo0,00 w to be dopreciatd ayeng 3-yeory MACRS doprñecio at The life Co) 8 the…

A: Depreciation is a non-cash expenses for the company. The depreciation expenses is charged because…

Q: Paul has two residential rental properties that are mortgaged. Both properties are in Class 1 with a…

A: The capital cost allowance (CCA) is an annual deduction in the Canadian income tax code that can be…

Q: What is the balance after 2 years on a CD with an initial investment of $3,500.00 and a 2% interest…

A: FV = PV* (1 + r / n)nt Where, PV = Present value FV = Future value r = Rate of interest (percentage…

Q: murchase price of the property? How much is the cost of financing? The purchase price of the…

A: Purchase price of property would be the present value of annual payment and plus down payment being…

Q: ow much should be shown in FIVE's 2021 income statement as gross rental income? ₱ 60,000 ₱ -…

A: There are two type of leases which are, (1) Operating lease (2) Financial lease Operating lease is…

Q: The contents of a building are insured for $45,000 but valued at $100,000. The policy contains a 90%…

A: Insurance -A contract, often known as a policy, provides indemnification to another party against…

Q: Bit Company owns an office building and normally charges tenants Php3,000 per square meter per year…

A: As per accrued basis of accounting Income is recognized as and when earned and expense is to be…

Q: 8. PIPO Co enters into the lease of a piece of machinery for $10,000 per annum for 5 years at 9.5%.…

A: A leased asset is the asset that is rented or leased by the owner of an asset to another person,…

Q: Our company has purchased a machine for 600.000 TL excluding 18% VAT. He paid 47.200 TL, including…

A: As per IAS 16, the cost of property, plant, and equipment includes the purchase price, any other…

Q: me expected to be in the follow

A: And we know that Net Income =Net Operating Income (NOI) - interest - tax Given loan =$ 8000000 @…

Q: and made the following payments to Cant Properties: 9. On June 1, 20x0, Entity A entered into a…

A: Dear student as there are multiple question and as pe bartleby guidelines we can answer only first…

Q: The acquisition price of a property is $380,000. The loan amount is $285,000. If the property’s NOI…

A: To calculate the Debt Yield Ratio (DYR), you can use the formula: DYR = Net Operating Income (NOI) /…

Q: During the following year, Shane Company paid the following items: 1. Ad valorem taxes of $2,000 on…

A: The question is related to the Journal Entries for the transactions given.

Q: Question 1 Facebook Inc. bought WhatsApp Inc. for a total of S19 billion in cash and shares in…

A: "Since you have posted multiple questions, we will solve the first question for you. To get the…

Q: In a mortgage loan that requires periodic paym= fully amortize the loan, the final that do not ment…

A: Mortgage securitization is the process of clubbing mortgages of individuals having same features to…

Q: The sale of a Georgia home closes on March 15th. If the seller owes $45,300 on a mortgage against…

A: As we know that the Formula for Simple Interest = (Principle x Rate x Time) / 100 If the…

Q: 1. Rank the following items from the least to the largest book value at the end of 5 years. Example:…

A: Depreciation is an expense of the business and a way of writing off the total cost of the asset over…

Q: Shiba Company leased an office to Cate Company for a five- year term beginning January 1, 2020.…

A: Rent for first year = 800,000 Lease term = 5 years Rent for remaining year = 1,250,000 Lease…

Q: During the following year, Shane Company paid the following items: 1. Ad valorem taxes of $2,000 on…

A: Tax refers to the mandatory charge imposed on the money gained by an entity by the government.

Q: 5.SMS Leasing Corporation has numerous lessees in its different commercial establishments in Metro…

A: Debt restructuring means changing the terms and conditions of the debt which results a gain or the…

Q: On January 1 of this year, Skamania Company completed the following transactions (assume a 9% annual…

A: Present value refers to the current value of future cash flows. It is determined by discounting the…

Q: pelow fair value puilding unt of building payable at the end of each year est rate of an ordinary…

A: As per rule, allowed to answer three sub parts and post the remaining in the next submission.

Q: Suppose that in addition to the $66,899 annual rental payments, Kimberly-Clark is also required to…

A: IFRS -16 states the principal of lease accounting. As per the standard lease liability should be…

Q: a. Bought a delivery truck and agreed to pay $61,000 at the end of three years. b. Rented an office…

A: Present value:Thee value of future cashflow in the present is known as present value. The present…

Q: An investor buys a property for $672,000 with a 25-year mortgage and monthly payments at 83% APR.…

A: Mortgage: With a mortgage, you provide the lender the right to seize your property in the event that…

Q: Required: 1. Show how International Machines determined the $16,500 quarterly lease payments. 2.…

A: Calculation of lease payments and recording of journal entries are as follows

Q: Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2024.…

A: A leasing schedule is part of a master lease agreement. Although it may include other details such…

Q: Prepare a schedule showing the profit to be recognized each year. Prepare all journal entries…

Q: Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2024.…

A: A leasing schedule is part of a master lease agreement. Although it may include other details such…

Q: Manufacturers Southern leased high-tech electronic equipment from International Machines on January…

A: The term implicit interest rate describes the implicit interest rate that is included in a financial…

Q: A 3,000 square-foot comparable building was leased for $4.50 per square foot per year above the…

A: A comparable property has been leased for a given amount above the market rate. However, the subject…

Q: Benton Corp. purchased a used machine for $125,000. The machine required installation costs of…

A: Extended warranty is not capitalized and is deferred over the warranty term. It is also known as…

Q: have been asked to provide an anticipated cap rate and vacancy rate for a pro forma of a subject…

A: Cap rate is the required rate of return and depends on the value of property and net operating…

Q: A building sells for $325,000 and a 30% down payment is made. A 20-year mortgage at 4% is obtained.…

A: 1. Amount of down payment = cost of asset × % of down payment 2. Amount of mortgage = cost of asset…

Q: Need typing answer A Ltd. purchased a building worth CU 9.900.000 and issued 12%…

A: concept. Debentures are the most common form of long-term debt instruments issued by companies.…

Q: The table on the right shows closing costs for a purchase of a $171,000 house requiring a 20% down…

A: Mortgage is secured loan and in this home is made collateral and mortgage loans make buying of home…

Q: Catherine Steele owns two rental properties originally valued at $275,000 (Property 1 land $70,000,…

A: Net Income:-Net income is also defined as net earnings of the business, which is calculated by…

Q: Statement1: The sale of a residential dwilling by a non-dealer is subject to VAT if the selling…

A: If the selling price per unit does not reach P 3,199,200, the selling of a housing dwilling by a…

Q: A company has a property insurance policy with an annual premium of $1,310. In recent months, the…

A: Policy premium = $1310Number of effective Days = 310

Question

11. Joe's office building with a $250,000 value has a rating of 2 with a building classification of A. The
contents in the building are valued at $90,000. By using the tables in the handbook, the total annual
premium is:
A. $550
B. $2,584
C. $1,722
D. $1,248
E. None of the above

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause. Round to the nearest dollar. Replacement Cost of Building: $340,000 Face Value of Policy: $306,000 Amount of Loss: $2,500
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.
Quarterly payments: 1st quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 2nd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 3rd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 4th quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 Question: How much is the VAT imposable for Client 1? Note: Write only the amount without comma, no peso sign and round off to the nearest peso (e.g. write 100000 only if the answer is One Hundred Thousand Pesos). If your answer is Zero, write 0 only. DO NOT INDICATE ANY NEGATIVE SIGN. 360000
Vaibhav
Bb.71.
A property was purchased for $3799.00 down and payments of $1377.00 at the end of every six months for 4 years. Interest is 6% per annum compounded quarterly. What was the purchase price of the property? How much is the cost of financing?
Complete the following: Note: Do not round intermediate calculations. Replacement value of property Amount of insurance 117,500 $ 68,620 Kind of policy 80% coinsurance Actual fire loss $ 46,000 Amount insurance company will pay
don't use Ai.!!!!
None
5- An equipment requires maintenance every year, at the end of each year, for 8 years. The 1st year maintenance cost is $1000.00, and every year it increases by $100.00. If the interest rate is 8%, what is the present worth of all the maintenance costs? a) $5747.00 b) $7527.60 c) $1780.60 d) $9600.00
Please Solve In 20mins
1. Statement 1: An article may be subject to both value-added tax and excise tax. Statement 2: The lease of commercial spaces in a building with a monthly rental of P14, 000 per unit is exempt from vat and opt. a. True, true c. True, false b. False, true d. False, false.