Practical Business Math Procedures with Business Math Handbook
12th Edition
ISBN: 9781259725067
Author: Jeffrey Slater, Sharon M. Wittry
Publisher: McGraw-Hill Education
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Chapter 17.1, Problem 8AH
(a)
To determine
The annual rate of depreciation by using the straight-line depreciation method and the given data.
(b)
To determine
The annual amount of depreciation by using the straight-line depreciation method and the given data.
(c)
To determine
The book value of the table at the end of the third year using the straight-line depreciation method and the given data.
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Questions
An insurance company's cumulative incurred claims for the last 5 accident years are given
in the following table:
Development Year
Accident Year 0
2018
1 2 3 4
245 267 274 289 292
2019
255 276 288 294
2020
265 283 292
2021
263 278
2022
271
It can be assumed that claims are fully run off after 4 years. The premiums received for
each year are:
Accident Year Premium
2018
306
2019
312
2020
318
2021
326
2022
330
You do not need to make any allowance for inflation.
1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method.
(b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method.
2. Comment on the differences in the reserves produced by the methods in Part 1.
Chapter 17 Solutions
Practical Business Math Procedures with Business Math Handbook
Ch. 17.1 - Prepare a depreciation schedule using...Ch. 17.1 - If the truck were bought on February 3, what would...Ch. 17.1 - Prepare a depreciation schedule using...Ch. 17.1 - If the truck were bought on February 3, what would...Ch. 17.1 - Prob. 1AHCh. 17.1 - Find the annual depreciation using the...Ch. 17.1 - Prob. 3AHCh. 17.1 - Find the first-year depreciation to the nearest...Ch. 17.1 - Prob. 5AHCh. 17.1 - Prob. 6AH
Ch. 17.1 - Prob. 7AHCh. 17.1 - Prob. 8AHCh. 17.1 - Prob. 9AHCh. 17.1 - Prob. 10AHCh. 17.1 - Prob. 11AHCh. 17.2 - From the following facts prepare a depreciation...Ch. 17.2 - From the following facts prepare a depreciation...Ch. 17.2 - Prob. 1AHCh. 17.2 - Prob. 2AHCh. 17.2 - Prob. 3AHCh. 17.2 - Prob. 4AHCh. 17.2 - Prob. 5AHCh. 17.2 - Forsmann & Smythe purchased a new machine that...Ch. 17.2 - Young Electrical Company depreciates its vans...Ch. 17.2 - Prob. 8AHCh. 17.3 - Prob. 1PQCh. 17.3 - Prob. 1EPQCh. 17.3 - Prob. 1AHCh. 17.3 - Prob. 2AHCh. 17.3 - Prob. 3AHCh. 17.3 - Prob. 4AHCh. 17.3 - Prob. 5AHCh. 17.3 - Prob. 6AHCh. 17.3 - Prob. 7AHCh. 17.3 - Prob. 8AHCh. 17.3 - Prob. 9AHCh. 17.4 - In 2015, Rancho Corporation bought semiconductor...Ch. 17.4 - Prob. 2PQCh. 17.4 - Prob. 1EPQCh. 17.4 - Prob. 2EPQCh. 17.4 - Prob. 1AHCh. 17.4 - Prob. 2AHCh. 17.4 - Prob. 3AHCh. 17.4 - Prob. 4AHCh. 17.4 - Prob. 5AHCh. 17.4 - Prob. 6AHCh. 17.4 - Wolfe Ltd. purchased a supercomputer for $75,000...Ch. 17.4 - Prob. 8AHCh. 17.4 - Prob. 9AHCh. 17 - Prob. 1ECPCh. 17 - From the following facts, complete a depreciation...Ch. 17 - Prob. 3ECPCh. 17 - Prob. 4ECPCh. 17 - Prob. 5ECPCh. 17 - Prob. 6ECPCh. 17 - From the following facts, complete a depreciation...Ch. 17 - Prob. 8ECPCh. 17 - Prob. 9ECPCh. 17 - Prob. 10ECPCh. 17 - From the following facts, prepare a depreciation...Ch. 17 - Prob. 12ECPCh. 17 - For the first 2 years, calculate the depreciation...Ch. 17 - For the first 2 years, calculate the depreciation...Ch. 17 - Complete the following table given this...Ch. 17 - Prob. 16ECPCh. 17 - Prob. 17ECPCh. 17 - Prob. 18ECPCh. 17 - Prob. 19ECPCh. 17 - Prob. 20ECPCh. 17 - Prob. 21ECPCh. 17 - Prob. 22ECPCh. 17 - Prob. 23ECPCh. 17 - Whole Foods, the world’s leader in natural and...Ch. 17 - Prob. 25ECPCh. 17 - If corporate headquarters for UPS in Atlanta is...Ch. 17 - Prob. 27ECPCh. 17 - Prob. 28ECPCh. 17 - Prob. 1PTCh. 17 - Prob. 2PTCh. 17 - Prob. 3PTCh. 17 - Prob. 4PTCh. 17 - Prob. 5PT
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