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- b. With relevant examples, explain the following; i. Primary appointment and secondary apportionment ii. Direct cost and indirect cost (5 in order for a conditional receipt to be issued, the applicant must A take a medical examination B sign the application and pay the initial premium C name a beneficiary D elect a settlement optionWhat are the three requirements for a holder to become a holder in due course?
- .What are the key elements required to establish a contingent contract?"3. With respect to foreclosure, give the reason you agree or disagree with the statements below: a. A foreclosure sale eliminates the outstanding debt(s) of the individual being foreclosed. b. Proceeds of a foreclosure sale are distributed to those holding a lien on the property on the basis of the percentage of total debt each is owed. c. Foreclosure means the senior mortgage loan lender automatically takes ownership of the property.1. A contract to sell real estate is generally not enforceable unless it is in writing. a) True b) False
- subject; accoutingघ On Section III of the loan application, what should be entered for the number of dependents and the dependent's ages? O Two dependents, ages 2 and 9 O Three dependents, ages 2, 9, and 18 O Four dependents, age 2, 9, 18, and 22 O Five dependents, ages 2, 9, 18, 22, and 39Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?
- Packed Corporation owns 60 percent of Snowball Enterprises’ stock. On January 1, 20X1, Packed sold $1.18 million par value, 6 percent (paid semiannually), 20-year, first mortgage bonds to Kling Corporation at 97. On January 1, 20X8, Snowball purchased $354,000 par value of the Packed bonds directly from Kling for $351,980. Required: Prepare the consolidation entry needed at December 31, 20X8, to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole dollar! Required information [The following information applies to the questions displayed below.] Doyle Company issued $394,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $79,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Prepare the journal entries for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal 1 Jan 01 Bonds payable Cash Debit Creditall are explain and must.