The following table gives a partial list of Kenji's significant property (that is, although only the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following table gives a partial list of Kenji's significant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property items). Item Purchase Price ACV Replacement Cost Furniture Couch set $2,800 $700 $3,080 Outdoor lawn furniture 2,500 1,250 3,000 Dining room table and chairs 800 400 960 Appliances TV 600 300 720 DVD player 100 60 120 Sound system 800 320 960 Furnishings Antique rugs 9,000 2,700 10,800 Sculptures 8,000 9,600 9,600 Throw blankets and pillows 300 180 360 TOTAL: $37,350 $24,278 $44,820 Kenji has a $51,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property covered. One of his more valuable items is a camera he uses for his hobby as a photographer. He purchased the camera 2 years ago for $3,650, and the total life expectancy is 10 years. The camera he uses for his hobby as a photographer would cost $4,000 if it was purchased today. The actual cash value (ACV) of the camera is The following table gives a partial list of Kenji's significant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property items). Item Purchase Price ACV Replacement Cost Furniture Couch set $2,800 $700 $3,080 Outdoor lawn furniture 2,500 1,250 3,000 Dining room table and chairs 800 400 960 Appliances TV 600 300 720 DVD player 100 60 120 Sound system 800 320 960 Furnishings Antique rugs 9,000 2,700 10,800 Sculptures 8,000 9,600 9,600 Throw blankets and pillows 300 180 360 TOTAL: $37,350 $24,278 $44,820 Kenji has a $51,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property covered. One of his more valuable items is a camera he uses for his hobby as a photographer. He purchased the camera 2 years ago for $3,650, and the total life expectancy is 10 years. The camera he uses for his hobby as a photographer would cost $4,000 if it was purchased today. The actual cash value (ACV) of the camera is
Expert Answer:
Related Book For
Business research methods
ISBN: 978-1439080672
8th Edition
Authors: William G Zikmund , Barry J. Babin, Jon C. Carr, Mitch Griff
Posted Date:
Students also viewed these physics questions
-
The following table gives a football teams season-ticket sales, percentage of games won, and number of active alumni for the years 19962005. a. Compute a correlation matrix for the variables. A...
-
The following table gives a football teams season-ticket sales, percentage of games won, and number of active alumni for the years 20012015. a. Produce a correlation matrix for the variables....
-
The data listed in the following table gives hourly measurements of heat flux q (cal/cm2/h) at the surface of a solar collector. As an architectural engineer, you must estimate the total heat...
-
Consider the problem of making change for n cents using the fewest number of coins. Assume that each coin's value is an integer. 2. Suppose that the available coins are in the denominations that are...
-
Explain the typical sequence of events that lead to botulism.
-
The following are the Ledger Balance (in thousands) extracted from the books of Vaishnavi Bank Ltd as on March 31, 2016. The bank's Profit and Loss Account for the year ended and Balance Sheet as at...
-
Supersonic airflow enters an adiabatic, constant area (inside diameter \(=1 \mathrm{ft}\) ) 30-ft-long pipe with \(\mathrm{Ma}_{1}=3.0\). The pipe friction factor is estimated to be 0.02 . What ratio...
-
Radioactive wastes are packed in a long, thin-walled cylindrical container. The wastes generate thermal energy non-uniformly according to the relation q = q v [1 (r/r o ) 2 ], where q is the local...
-
Some managers argue that international joint ventures/alliances are more costly than beneficial in terms of problems, making these ventures almost doomed to failure before beginning. Do you agree...
-
Prepare a simple tax provision and the journal entries to calculate the current and the deferred tax provision (benefit) using the following data: a. ABC, Inc. reported pre-tax book income of...
-
benchmarking exercise carried out by a team commissioned by the management of the company identified other areas of concern as follows: The relatively high cost of labour to the company The limited...
-
1. what is privet international law? 2. what is public international law? 3. How do you enforce private international law? 4. what are some of the issues faced when enforcing public international...
-
Assess the role of international law in addressing (preventing and responding to) the Covid-19 pandemic. You may choose to limit your answer to one main body of international law. In your essay, make...
-
1. Definition and features of international law rules. 2. Peculiarities and internal structure of international law rules. 3. Types of international law rules and their classification. 4. Hierarchy...
-
What do you understand by deferrals and accruals in adjusting entries? Give numerical examples on how such adjusting entries are made? Just give me numerical examples.
-
1. Distinguish between 'public' and 'private' international law. 2. Object and purposes of international law. 3. Will of states as ground of legitimacy of international law. 4. Normative theory and...
-
a) A centralized chiller system for process control room was installed with the cost of $ 500 million in 2020. Assume interest rate of 12%. i) What is the equivalent cost required if it was built in...
-
How can you tell from the vertex form y = a(x - h) 2 + k whether a quadratic function has no real zeros?
-
1. Many people in minority groups, including African Americans, Hispanic Americans, Asian Americans, and Native Americans, do not invest. What exploratory research should Edward Jones do to develop...
-
Name several nonbusiness applications of survey research.
-
What types of tools does the researcher use more given the ever increasing internationalization of business?
-
Companies are facing a great amount of change in every facet of their operations today. To remain competitive, companies must keep abreast of current developments in several areas. You recently got...
-
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility.)...
-
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on its triple bottom line for its long-term...
Study smarter with the SolutionInn App