On October 1, 2020, Jackson Chemical was identified as a potentially responsible party by the Environmental Protection Agency. Jackson's management along with its counsel have concluded that it is probable that Jackson will be responsible for damages, and a reasonable estimate of these damages is $5,000,000. Jackson's insurance policy of $9,000,000 has a deductible clause of $500,000. How should Jackson Chemical report this information in its financial statements at December 31, 2020

Answers

Answer 1

Answer:

Jackson Chemical should report the $5,000,000 loss because we don't know if the insurance will actually pay out the policy.

Explanation:

Jackson chemical has to report $500,000 loss associated with the deductible would be accrued as liability in the company's financial statements at Dec 31, 2020 since it is probably that Jackson will be responsible for the damages.

$500,000 is the amount of the insurance policy's deductible Jackson will have to pay to receive the policy's benefits, which will cover the reasonably estimated damages.


Related Questions

This diagram represents _______ communications. Which of the following are examples of this type of communication? Check all that apply.

The CEO of Nokia, Stephen Elop, meets with 2,000 employees to tell them why he is recommending that they abandon Nokia software to use less popular software from Microsoft.

Anya Kamenetz, a reporter for The Village Voice, presents her editor with the first draft of a story in a yearlong series titled “Generation Debt: The New Economics of Being Young.”

Engineers Shawn Fanning and Dustin Mierau discuss possible features for Path, the personal networking program they created together.

Cargill’s director of high-intensity sweeteners, Zanna McFerson, tells her boss, Marcelo Montero, the president of Cargill’s Health and Nutrition division, that a glycoside called Rebiana can be used to create a new artificial sweetener to be called Truvia.

This diagram represents _______ communications. Which of the following are examples of this type of communication?

Answers

This diagram represents an upward communications. The firm with this examples of this type of communication is "Anya Kamenetz, a reporter for The Village Voice, presents her editor with the first draft of a story in a yearlong series titled “Generation Debt: The New Economics of Being Young".

What is an upward communications?

Basically, an upward communication refers to the process by which lower-level company employees can directly communicate with upper management to provide feedback, complaints or suggestions regarding the day-to-day operations of the company. This type of communication is increasing in popularity among organizations to encourage a participative work culture.

Most firm that foster the upward communication are better able to make decisions that positively impact their employees. So, its increase workplace productivity as well as employee satisfaction. Regardless of one position, it is very essential to understand how upward communication affects a company's overall success at every level.

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what are downstream value chains​

Answers

Downstream value chains refer to the stages of production and distribution that occur after the manufacturing or production of a product. It involves the processes, activities, and entities that are responsible for delivering the final product to the end consumer.

Downstream value chains typically include activities such as marketing, sales, distribution, retailing, and customer service. These stages focus on adding value to the product, ensuring its availability to the target market, and meeting customer demands. It involves activities like packaging, branding, logistics, pricing, and after-sales support.

Efficient management of the downstream value chain is crucial for achieving customer satisfaction, market reach, and profitability. It involves coordinating with intermediaries, managing distribution channels, and implementing effective marketing strategies to promote and deliver the product to consumers.

By optimizing the downstream value chain, organizations can enhance their competitiveness, expand market share, and capture customer loyalty in the final stages of the product's journey from producer to consumer.

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Isaiah is in his 50s and currently does not have a retirement fund. However, he recently read a few articles about the insufficient savings of people in retirement and, as a result, he decides he wants to start now. He saves $500 per month for 15 years and earns 7% by investing in the stock market* through an index fund.

1. How much of the total did Isaiah contribute himself?

2. How much money did Isaiah make through compounded returns in this investment account?

Answers

Answer:

1255

Explanation:

gh\\667

Which of the following statements accurately describes how an event will impact supply? Choose 1 answer: Choose 1 answer: (Choice A) A An increase in costs of production will cause an increase in the supply curve (Choice B) B An increase in demand will cause an increase in supply (Choice C) C An increase in price will cause supply to increase (Choice D) D A decrease in price will cause supply to increase (Choice E) E A decrease in resource costs will cause an increase in the supply curve

Answers

The statement that accurately describes how an event will impact supply is  option B An increase in demand will cause an increase in supply.

What happens when supply and demand both rise?

If demand and supply both rise, more will be purchased by consumers and more will be produced by businesses. The impact on price will, however, depend on the relative amount of the two changes because consumers place a higher value on each unit while producers are willing to supply each unit at a lower price.

Therefore, With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply. Reduced demand will result in a drop in the equilibrium price and a reduction in supply.

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The following information relates to the pension plan for the employees of Turner Co.: 1/1/20 12/31/20 12/31/21 Projected benefit obligation 9,765,000 10,458,000 14,007,000 Fair value of plan assets 8,925,000 10,920,000 12,054,000 AOCI – net (gain) or loss -0- (1,512,000) (1,680,000) Settlement rate (for year) 11% 11% Expected rate of return (for year) 8% 7% Turner estimates that the average remaining service life is 16 years. Turner's contribution was $1,323,000 in 2021 and benefits paid to retired employees was $987,000. The amount of AOCI (net gain) amortized in 2021 is

Answers

Answer:

The amount of AOCI (net gain) amortized in 2021 is $26,250

Explanation:

In order to calculate the calculate the amount of AOCI (net gain) amortized in 2021 we would have to use the following formula:

amount of AOCI (net gain) amortized in 2021=(AOCI net gain 12/31/20-Corridor amount for 2021)/Average remaining service life

AOCI net gain 12/31/20=$1,512,000  

Corridor amount for 2021=$1,092,000=10,920,000*10%

Average remaining service life=16  

Therefore, AOCI (net gain) amortized in 2021=($1,512,000-$1,092,000)/16

AOCI (net gain) amortized in 2021=$26,250

QUESTION 5 of 10: True or False: The operations manager is involved primarily with supply network design. O a) True Ob) False​

Answers

Answer:

true

Explanation:

An operations manager is a person who is involved with the supply network design which is also known as strategic supply chain planning. Thus, the given statement is true.

What is supply network design?

The process of constructing and modeling a supply chain in order to fully understand the expenses and time associated with bringing items to market with the resources and locations available is known as supply chain network design.

Operations managers are in charge of product development and delivery, inventory and supply chain management, operations personnel and job design, and production are all under their control.

Therefore, The correct answer is Option a.

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Where should a user store frequently used icons on a computer?

Answers

Shelf or Taskbar. Located at the bottom of your computer

Answer: they should be loaded on the tool bar  

Explanation:

for quick and easy access  

Question 16 of 20
Frank just met with his marketing team to create his billboard sign. So far, he
knows the billboard will have a catchy slogan, a brief description about the
company and what makes them different, and information directing
customers to visit his website. What element of an effective advertisement is
Frank's billboard missing?
A. Unique selling proposition
B. Call to action
C. Appropriate information
O D. Exciting graphics and color

Answers

Answer:

b. call to action

Explanation:

An element of an effective advertisement is Frank's billboard missing is Call to action. Thus the correct option is B.

What is advertisment?

An advertisement is referred tool of promotion to create awareness of any product among customers and persuade them to make a purchase which helps in the sales of the product.

In this paragraph, it is described that Billboards have a catchy slogan that gets successful gets the attention of the customer, and influences them to make a visit to their website.

The element of effective advertising which the billboard is missing is a call to action that encourages customers to take action of buying. Here Billboards is unable to tell a story to engage customers so that they will not turn their actions of buying.

Therefore, option B is appropriate.

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Which of the following types of business ownership has the highest personal liability risk?
A.
A partnership
B.
A sole proprietorship
C.
A C corporation
D.
An LLC

Answers

Answer:

A C corporation

Explanation:

Answer:

A.partnership

I have picked out A because in a partnership business,one is responsible for the progress of the business and when the business is in debts,he can even sell his personal property to cover up the loss made

An eight-year project is estimated to cost $528,000 and have no residual value. If the straight-line depreciation method is used and the average rate of return is 18%. determine the estimated annual net income.

Answers

Answer:  $48,420‬

Explanation:

Average rate of return = Annual Net Income/ Average Investment

Average Investment

= (Beginning value of asset - ending value) / 2

= ( 538,000 + 0)/2

= $269,000

18% = Annual Net Income/269,000

Annual Net Income = 269,000 * 18%

Annual Net Income = $48,420‬

Comprehensive auto insurance would be most useful to a person who:

A. has to spend time in the hospital.
B. owns a business where a pedestrian is hurt.
C. loses their job and cannot pay bills.
D. has a car stolen while on vacation.

Answers

Answer:

D has a car stolen while on vacation

Explanation:

Comprehensive policy covers damage to the car due to accidents, car theft, losses to a third party, damage to the car due to natural damages, personal injuries or death caused in an accident, damages caused in a fire. Comprehensive car coverage is full coverage.

Comprehensive auto insurance would be most useful to a person who

has a car stolen while on vacation. Hence, option D is correct.

What is comprehensive insurance?

A comprehensive policy covers damage to the car resulting from collisions, theft, losses to third parties, natural disasters, accidents resulting in physical injury or death, and fire damage. Full coverage is comprehensive auto insurance.

Thus, option D is correct.

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Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?

Answers

Answer:

≈ 9644 quantity of card

Explanation:

given data:

n = 4 regions/areas

mean demand = 2300

standard deviation = 200

cost of card (c) = $0.5

selling price (p) = $3.75

salvage value of card ( v ) = $ 0

The optimal production quantity for the card can be calculated using this formula below

= u + z (0.8667  ) * б

= 9200  +  1.110926 * 400

≈ 9644 quantity of card

First we have to find u

u = n * mean demand

 = 4 * 2300 = 9200

next we find the value of Z

Z = ( \(\frac{p-c}{p-v}\) )

   = ( 3.75 - 0.5 ) / 3.75   = 0.8667

Z( 0.8667 ) = 1.110926 ( using  excel formula : NORMSINV (0.8667 )

next we find б

б = 200\(\sqrt{n}\) = 400

Multiple Choice Question Valpar Company produces several lines of laundry hampers. The factory is highly automated and uses an activity-based costing system to allocate overhead costs to its various products. During the upcoming period the company expects to produce 72,000 units. The costs and cost drivers associated with four activity cost pools are given below: Activities Unit Level Batch Level Product Level Facility Level Cost $20,000 $10,000 $15,000 $36,000 Cost Driver 4,000 labor hours 400 set-ups % of use 72,000 units Production of 20,000 units of its popular foldable hamper required 2,000 labor hours, 20 setups, and consumed one-quarter of the product sustaining activities. What amount of batch-level costs will be allocated to the product

Answers

Answer:

$500

Explanation:

Calculation to determine the amount of batch-level costs that will be allocated to the product

Using this formula

Allocation rate=(Total batch level overhead cost/Total activity base ) * Set-ups

Let plug in the formula

Allocation rate=( $10,000/400 set-ups) *20 set-ups

Allocation rate=$25 per set-up *20 set-ups

Allocation rate=$500

Therefore the amount of batch-level costs that will be allocated to the product is $500

When you go beyond the title of the article, read the article in depth and follow with any links, you are

When you go beyond the title of the article, read the article in depth and follow with any links, you are


Doing a deep dive and your due diligence

Watching out for misinformation

Doing an in-depth search on your topic

Researching the source

Answers

Answer:

Explanation:

I think We are doing an in-depth search on your topic.

For Curiosity, we have to do full research on the topic we are reading,

And for full research, we have to go in deep We follow the link given in the article.

A good reader is called when He does not just look at the title. He do all efforts for understanding the topic in depth.

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Given
Principal = $11,500,
Interest Rate = 10%
Time = 240 days (use ordinary interest)

Partial payments:
On 100th day, $6,000
On 180th day, $3,500

a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

Given Principal = $11,500, Interest Rate = 10%Time = 240 days (use ordinary interest)Partial payments:On

Answers

Total interest=$489.58

Balance after 100th day=$5,819.44

Balance after 180th day=$2,448.77

Final payment=$2,489.58

Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?

In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.

Interest=loan balance*interest rate*number of days that interest is due/360 days

Interest on 100th day=$11,500*10%*100/360

Interest on 100th day=$319.444444

balance after 100th day=initial principal+ interest-partial payment

balance after 100th day=$11,500+$319.444444 -$6,000

balance after 100th day=$5,819.444444

Note it has been 80 days since the payment of the last interest on 100th

interest on 180th day=$5819.444444 *10%*80/360

interest on 180th day=$129.320988

balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500

balance of the loan on the 180th day=$2,448.765432

The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)

final interest=$2,448.765432*10%*60/360

final interest =$40.812757

Final payment=$2,448.765432+$40.812757

Final payment=$2,489.58

Total interest=$319.444444+$129.320988+$40.812757

Total interest=$489.58

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HELP HELP HELP 10 POINTS!!!!!!!!!!!!!! PICTURE PROVIDED!!!!!

HELP HELP HELP 10 POINTS!!!!!!!!!!!!!! PICTURE PROVIDED!!!!!

Answers

consumable
Services
Durable

explain misconceptions about

comparative advantage

Answers

The  misconceptions about comparative advantage is that

Comparative advantage is the same as absolute advantage: Absolute advantage refers to the ability of a country, firm, or individual to produce a good or service more efficiently than its competitors.

Comparative advantage is only about labor costs: While labor costs can be an important factor in determining comparative advantage, they are not the only factor. Other factors, such as the availability of natural resources, the level of technological development, and the efficiency of production processes, can also play a role.

What is comparative advantage?

Comparative advantage is a concept in economics that refers to the ability of a country, firm, or individual to produce a good or service at a lower opportunity cost than its trading partners.

There are several misconceptions about comparative advantage that are worth addressing:

Comparative advantage means that every country should specialize in one thing: While it is true that countries can benefit from specializing in the production of goods or services in which they have a comparative advantage, it is not necessary for every country to specialize in a single thing. In fact, most countries produce a diverse range of goods and services, and trade can still be beneficial even when countries do not specialize.

Lastly, Comparative advantage means that one country always wins and the other always loses: Comparative advantage is a mutual benefit, not a zero-sum game. When countries trade with one another, both countries can benefit by specializing in the production

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Detailed note on customer profiling of Continental Biscuit Limited

Answers

Mr. Hasan Ali Khan founded Continental Biscuits Limited (CBL) in 1984. It is now a joint venture with Mondelez International, with 50.5% and 49.5% stakes, respectively.

What is profiling of consumers?Customer profiling is the process of describing a customer or group of customers based on demographics, psychographics, purchasing patterns, and other factors. In other words, it is identifying the characteristics of people who are most likely to buy your product or service and get a lot out of it. Consumer profiling is the process of defining, segmenting, and profiling your target consumers in order to guide all aspects of your marketing and brand strategy. Leading brands, agencies, and publishers are demonstrating the value of granular data that quantifies consumer behaviors and perceptions. A customer profile is a document or a platform that contains important information about your ideal customers and their interactions with your company.

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10 roles of insurance in a business

Answers

Considering the benefits and importance of insurance, the ten roles of insurance in a business include "security and safety."

The other roles of insurance in a business are:Mitigation of riskProvision of insurance service by the insurance company Protection from unexpected lossesEase of getting loansProvision of social cooperationIt enhances saving habitsIt aids some contracts that require it.There are tax benefits.Promotion of trades and industry, etc.

Hence, in this case, it is concluded that insurance plays various roles in business.

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A cost-benefit analysis is a way

Answers

Answer:

Cost Benefit Analysis

Way of thinking that compares the cost of an action to its benefits.

Explanation:

I hope it helps.

The cost of an action

When using the AutoFill feature, where should you put the mouse pointer in the cell to get the AutoFill handle?
bottom-left corner
bottom-right corner
top-left corner
top-right corner

Answers

Answer:

bottom right corner

Explanation:

Double declining balance

Answers

The double-declining balance method is an effective way to depreciate assets in the early years of their useful life and reduce the balance of the asset more quickly than the straight-line method. This helps companies to account for the asset's cost more accurately over time and to recognize its diminishing value as it ages.

Double-declining balance method is a method of depreciation that is an accelerated method.

The depreciation rate is twice as much as the straight-line method's depreciation rate.

This method begins with an asset's value at the beginning of its use and then decreases at a constant rate throughout its useful life until it reaches the asset's salvage value.

This depreciation method is most commonly used for assets that depreciate quickly at the beginning of their useful life and then slowly depreciate over time until they are scrapped or sold.

Assets such as computers, vehicles, and machinery are common examples of assets that use this method of depreciation.

Double-declining balance method can be calculated using the following formula:Annual depreciation = (2 / useful life in years) * book value at the beginning of the yearOrDepreciation rate = 2 / useful life in years.

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HELP WILL GIFT 100 POINTS!! AND BRAINLIEST!!!

How might a situation in which there is no existing competition for a product or service still lead to innovation?


Two businesses that were working together can make the decision to compete to drive innovation.


An entrepreneur can take advantage of an opening to create an innovative product or service.


An entrepreneur can base a product or service off the innovative ideas of others.

Two businesses with similar products might come together to offer an innovative service.

Answers

Answer:

Two businesses that were working together can make the decision to compete to drive innovation.

And

Two businesses with similar products might come together to offer an innovative service.

Which of the following are examples of variable cost?
(select 3 answers)

a. a radio ad
b. hourly employees
c. the yarn used to make a scarf
d. rent of an office space
e. the shampoo used to groom pets
f. internet services​

Answers

Answer:

Which of the following are examples of variable cost?

hourly employees

Variable costs vary directly and proportionally to variations in the level or volume of business activity. Examples of variable costs include options (c), (d), and (e).

What is a variable cost?

A variable cost is a corporate and business expense that varies in relation to the amount of product or service produced or sold.

Variable costs rise or fall in relation to a company's production or sales volume, rising as production increases and falling as production drops.

As a result, variable expenses include the yarn required to manufacture a scarf, the rent for office space, and the shampoo used to groom dogs.

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A 90-day, 10% note for $9,000, dated april 15, is received from a customer on account. the face value of the note is?

a. $9,000.
b. $9,900.
c. $9,225.
d. $8,100.

Answers

The face value of a 90-day 10% note for

$9,000, dated April 15 is $9,000.

Bonds often have a face value that

corresponds to their principal or redemption

value. A percentage of face value is used to

calculate interest payments. Depending on

the interest rate payable and the perceived

risk of default, a bond's true value before to

maturity may be larger or lower than its face

value. Bonds' actual value approaches face

value as they get closer to maturity.The per value of the stock is the face value in the case of stock certificates. The per value of the common stock is primarily symbolic. Dividends on preferred stock can be calculated as a percentage of par value.

The death benefit of a life insurance policy

is its face value. In the event that a life

insurance policy has "double indemnity," the

recipient receives double the face value in

case of accidental death.

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What is Universal Perspective

Answers

Answer:

1 of, relating to, or typical of the whole of mankind or of nature. 2 common to, involving, or proceeding from all in a particular group. 3 applicable to or affecting many individuals, conditions, or cases; general. 4 existing or prevailing everywhere.

Which of the following encourages creativity and innovation. Flexibility, realistic expectations, persistence or organized planning

Answers

Flexibility fosters invention and creativity.

what is  flexibility?

If we take corporate work into consideration.

Instead, workplace flexibility is fostering an environment where workers may balance work and personal obligations while still performing at a high level. Options for when, where, and how the work is completed are part of flexible work arrangements.

Creative thinking demands flexibility, which makes it easier to come up with original and creative ideas. If someone is flexible, they will have creative thoughts.

In that we are working with ideas, flexibility is similar to fluency. Yet, while fluency focuses on producing as many ideas as possible, flexibility focuses on producing concepts that are unique from one another.

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Question 5 of 10
When should a writer establish common ground before the bottom-line
statement?
A. When the report does not have an executive summary
O B. When the document is minutes of a meeting
Ο Ο Ο Ο
C. When the reader may disagree with the bottom-line statement
O D. When the details are arranged in order of importance
SUBMIT

Answers

Answer:

C. When the reader may disagree with the bottom-line statement

Explanation:

A common ground can be regarded as an area of shared interests which is been held number of people or groups. It is a point at which opinions and interest is been agreed upon by parties. A bottom-line statement can be regarded as a likely closing statement made after an agreement has been reached, it's just like a conclusion after the whole statement. Hence, it is necessary for the writer to establish a common ground first before he/she will establish bottom line statement "when the reader may disagree with the bottom-line statement''


Cullumber Company issues $315,000, 20-year, 6% bonds at 102. Prepare the journal entry to record the sale of these bom
2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit

Answers

The journal entry to record the sale of the bonds would be:

Debit Cash $321,300

Credit Bonds Payable $315,000

Credit Premium on Bonds Payable $6,300

What  is the journal entry?

The selling of the bonds generated $321,300 in cash for the corporation [$315,000 x 102%]. The $315,000 face amount of the bonds is credited to the Bonds Payable account.

The Premium on Bonds Payable account is credited with the $6,300 difference between the face value and the total cash received since the bonds were sold at a premium.

So, the entry is:

Debit Cash $321,300

[$315,000 x 102%]

Credit Bonds Payable $315,000

Credit Premium on Bonds Payable $6,300

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Which of the following is not a product category?
a. Shaving products
b. Sunscreen
c. Soft drinks
d. Tobacco products
e. All of these are product categories.​

Answers

Answer:

All of these are product categories.

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