An Excel Spreadsheet Is Being Used to Track Insurance Payments

question 45

Essay

An Excel spreadsheet is being used to track insurance payments for homeowners insurance with a coinsurance clause. The following are the column headings: A is Replacement Value of the Building, B is Face Value of the Policy, C is Coinsurance Clause Percent, D is Amount of Insurance Required, E is Amount of Loss, F is Percent of Loss Insurance Will Pay, and G is Amount of Loss Insurance Will Pay.

What is the formula to determine the amount of loss insurance will pay in Row 15?

Recognize the role of differentiation and interdependence in conflict.

Understand the effects of resource scarcity and ambiguous rules on conflict.

Compare the outcomes of different interpersonal conflict management styles.

Analyze the role of time and deadlines in negotiations.

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Definitions:

Useful Life

The estimated time period a fixed asset is expected to be usefully productive for a business.

Deferred Revenues

Income received by a company for goods or services not yet delivered or rendered, recorded as a liability on the balance sheet until earned.

Adjusting Entry

At the close of an accounting cycle, adjusting entries are recorded in the journal to apportion revenues and expenses to the time frame in which they were truly incurred.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or wear and tear.