per month 1‚005.23 x 9 months = 9‚047 Policy C was purchased on August 1‚ 2011 for 12 months at the amount of $2‚700. 2‚700 / 12 = 225 per month 225 x 5 months = 1‚125 The total premium for each policy was paid in full (for all months) at the purchase date‚ and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.) 7‚920 + 9‚047 + 1‚125 = 18‚092 adjustment Dr Insurance Expense 18‚092 Cr Prepaid
Premium 2007 Depreciation 1979
Problem set 3 (Answer) 7.6. A farmer uses three inputs to produce vegetables: land‚ capital‚ and labor. The production function for the farm exhibits diminishing marginal rate of technical substitution. a) In the short run the amount of land is fixed. Suppose the prices of capital and labor both increase by 5 percent. What happens to the cost-minimizing quantities of labor and capital for a given output level? Remember that there are three inputs‚ one of which is fixed. b) Suppose only the cost
Premium Economics Supply and demand Laborer
relationship between machine hours and power cost? 2. Using the high and low points‚ compute a power cost formula. 3. Use the method of least squares to compute a power cost formula. Evaluate the coefficient of determination. 4. Rerun the regression‚ and drop the point (20‚000‚ $26‚000) as an outlier. Compare the results from this regression to those for the regression in Requirement 3. Which is better? SOLUTION: 1. [pic] The overall relationship looks reasonably linear—although the
Premium Costs Regression analysis Polynomial
OF KENYA The hire Purchase acT Chapter 507 Revised Edition 2010 (1982) Published by the National Council for Law Reporting with the Authority of the Attorney General www.kenyalaw.org 2 CAP. 507 Hire-Purchase [Rev. 2010 CHAPTER 507 THE HIRE-PURCHASE ACT ARRANGEMENT OF SECTIONS part I–prelImInary Section 1–Short title. 2–Interpretation. 3–Application. part II–regIstratIon 4–Establishment of registry. 5–Agreements to be registered. part III–provIsIons as to hIre-purChase agreements 6–Requirements
Premium Contract
The Gadsden Purchase of 1853 is one of the most monumental land purchases in United States history. In basic terms‚ the Gadsden Purchase was an area of land that was acquired by the United States from Mexico in order to build a railway for the transportation of goods in the South from East to West in order to fulfill Manifest Destiny. Throughout this paper‚ I hope to accurately navigate through the events prior to the Gadsden Purchase as well as the early life of James Gadsden. Although many topics
Premium Mexico United States Gadsden Purchase
Jessica Robins Lab 3: Properties of Organic Compounds Introduction Distillation is a physical process used to separate chemicals from a mixture by how easy they vaporize. The temperature rises unit it reaches the temperature of the lowest boiling substance in the mixture while the other contents of the mixture remain in their original phase (until the most volatile substance has all boiled off) as it’s heated. Hot vapor results and passes into a condenser and is then converted to a liquid
Premium Distillation
Dex Cimino 3/24/2013 CHE101‚ Tamburro Lab 3 – Properties of Gases Data Table: Experiment Results | Gas | Flamereaction | Glowingsplint | Limewaterreaction | Bromothymolblue reaction | Hydrogen | Popping | extinguish | brownish | green | Oxygen | Brighter | reignite | redish | blue | Hydrogen & oxygen | exothermic | extinguish | brownish | Blue-green | Carbon dioxide | extinguish | extinguish | Milky | yellow | Alka
Premium Oxygen Carbon dioxide
Phase 1 Individual Project Nathaniel Six Colorado Technical University The Sciences: Inquiry‚ Innovation and Invention SCI210-1203A-11 Susan Malekpour July 19‚ 2012 Phase 1 Individual Project The 3 Essential Properties of Every Material There are three essential properties of every material that scientists use as a premise for most every study. The first is the kind of atoms that the material is made up of. You have your neutral elements and your compound elements. The neutral elements
Premium Human brain Integrated circuit Brain
rental in operating condition. The main goal of a capital purchase is that the lifetime of that product will extend beyond the year of purchase. After purchased the product is called a capital asset. Capital assets are all tangible property which cannot easily be converted into cash and which is usually held for a long period‚ including real estate‚ equipment‚ etc. (Finkler‚ Kovner‚ Jones‚ 2007). Capital assets and money used to purchase such items are treated differently than that of the operating
Premium Patient Emergency medicine Hospital
Many people purchase life insurance because it is a great way to financially protect their loved ones at a time when they need help the most. It demonstrates to your family that you care about them so much that you want to secure their financial future if you pass away prematurely. The commercial insurance team at Mid Rivers Insurance Group‚ which provides clients in the St. Charles County and Greater St. Louis area with affordable insurance policies‚ explain the reasons why you need a life insurance
Premium Family Marriage Mother