Determine the amount that suzie can claim from his insurer

Assignment Help Accounting Basics
Reference no: EM133140860

Question - Suzie owns a double-storey terrace that was purchased 15 years ago. The double-storey terrace was insured for RM 600,000 under a homeowner insurance policy. The townhouse was partially destroyed by fire recently and the loss was estimated to be RM 400,000. At the time of loss, the total rebuilding cost for the townhouse was RM850,000.

(a) Determine the amount payable by Suzie's insurer, if any, for the loss due to fire. Show your calculations.

(b) Assume that the double-storey terrace was insured for RM 1,000,000 at the time of loss. Determine the amount that Suzie can claim from his insurer if the loss amounted to RM 550,000. Show your calculations.

Reference no: EM133140860

Questions Cloud

Prepare the perpetual inventory schedule for transactions : On June 1, Crane sold 20 units, and on August 27, 44 more units. Prepare the perpetual inventory schedule for the above transactions using FIFO
Stimulating human resource performance : Human resource training is a critical catalyst in stimulating human resource performance and organisational excellence. Briefly discuss the key elements of the
Main goal of education education in long life learning : What the main goal of education education in long life learning
Explain in depth about job analysis and job design : Explain in depth about Job Analysis and Job Design minimum 3 source and 700 words
Determine the amount that suzie can claim from his insurer : Assume that the double-storey terrace was insured for RM 1,000,000 at the time of loss. Determine the amount that Suzie can claim from his insurer
What is the expected rate of return : Your are considering an investment in a company that paid dividends of $2 per share at the end of last year. What is the expected rate of return
Calculate the contribution from special order : Calculate the contribution from special order, contribution lost from regular sales and the net contribution from special order
Discuss the different types of rail defects and their causes : Discuss the factors that are critical to aggregates used for construction track ballast high speed rail applications
How would you spend your days if you were unemployed : 1. Why do you think Canadian workers often do not take all of their allotted vacation time, even when they may lose the bene?t?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Beginning work in process inventory on june 1 1000

use the following data from a company using a process costing system to answer the question below. beginning work in

  Prepare the share capital section

Prepare the share capital section of the statement of financial position at December 31, 2017

  Compute Alpha taxable income and tax liability

Gross profits on sales 600,000 Operating expenses 165,000 Long term capital gain 10000. Compute Alpha's taxable income and tax liability for Year 1 and Year 2

  Discuss bargain electronics has excess operating capacity

Bargain Electronics will incur special shipping costs of $1 per unit. Assuming that Bargain Electronics has excess operating capacity

  Sales 110000 cogs 57000 operating expenses 38000 based on

presented below are selected income statement data for kettridges farm for the month of april sales 110000 cogs 57000

  Prepare the journal entry to record this purchase

Select Apparel purchased 90 new shirts and recorded a total cost of $2,258 determined as follows: Prepare the journal entry to record this purchase

  Calculate the amount and the nature of the gain or loss

Martin sells a stock investment for $26,000 on August 2, 2019. Calculate the amount and the nature of the gain or loss

  What amount should appear in the income statement

What amount should appear in the 2014 income statement? What amount should appear on the closing balance sheet for 2014

  What should be overall effect on company operating profit

The company is currently selling 7,000 units per month. What should be the overall effect on the company monthly operating profit of these changes

  What is the highest price assembly should pay chip

The Chip Division of Pleasanton Co. has just revised its actual cost data for the year just ended. What is highest price Assembly should pay Chip for the units

  Describe how perform each type of test

Describe how you perform each type of test, assuming documents are prenumbered. "In most audits, it is more important to test carefully"

  What is the vehicle total operating cost

The actual vehicle operating cost for the month was $8660. What is the vehicle total operating cost in the flexible budget for November

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd