Assume an HO-3 Iis in force. The insureď's home is damaged by a severe windstorm and the family is forced to move into a motel for 2 weeks, The insured provided the following receipts. The water, electricity and telephone remained in service following the loss. Amount Paid Amount Normally Spent Mortgage Payment $985 $985 Hotel Bils $1,075 $0 Water $25 $35 Electricity $125 $95 Telephone $10 $38 Cable TV $29 Meals in Restaurants $505 $150 Food prepared at home $0 $210 Automobile $35 $20 $60 $10 Laundry Dry cleaning $15 $15 How much do you owe for ALE, Do not consider a deductible.

Assume an HO-3 Iis in force. The insureď's home is damaged by a severe windstorm and the family is forced to move into a motel for 2 weeks, The insured provided the following receipts. The water, electricity and telephone remained in service following the loss. Amount Paid Amount Normally Spent Mortgage Payment $985 $985 Hotel Bils $1,075 $0 Water $25 $35 Electricity $125 $95 Telephone $10 $38 Cable TV $29 Meals in Restaurants $505 $150 Food prepared at home $0 $210 Automobile $35 $20 $60 $10 Laundry Dry cleaning $15 $15 How much do you owe for ALE, Do not consider a deductible.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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