A company has a property insurance policy with an annual premium of $1,360. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 320 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.)

Beluga, Inc. sells football helmets to local schools and warrants all of its products for one year. While no helmets sold in 2021 have been returned yet, based upon previous years, Beluga, Inc. estimates that 3% of its products will need repairs or be replaced within the next year. What effect would this warranty have on assets, liabilities, and stockholders' equity in 2021? A. a decrease in assets and decrease in stockholders' equity B. No journal entry is necessary until products under warranty are returned. C. an increase in stockholders' equity and a decrease in liabilities D. a decrease in stockholders' equity and an increase in liabilities

Das Medical introduced a new implant that carries a five-year warranty against manufacturer's defects. Based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. Sales were $21 million and actual warranty expenditures were $31,750 for the first year of selling the product. Complete the following T-account to determine the amount (if any) Das should report as a liability at the end of the year. Note: Enter your answers in whole dollars. Beginning Balance Ending Balance Debit Warranty Liability Credit

Das Medical introduced a new implant that carries a five-year warranty against manufacturer's defects. Based on industry experience with similar product introductions, warranty costs are expected to approximate 3% of sales. Sales were $9 million and actual warranty expenditures were $38,750 for the first year of selling the product. Complete the following T-account to determine the amount (if any) Das should report as a liability at the end of the year. Note: Enter your answers in whole dollars. Debit Beginning Balance Actual expenditures Ending Balance Answer is not complete. Warranty Liability 0 -11,750 38,750 → 27,000 0 -27,000 Credit Warranty expense

Mr. Harrington had a new heating system installed in his office. The balance owing to the heating company is $24,000 which includes equipment and installation fees. The heating company has agreed to let him make individual payments on the account whenever he’d like, but the final balance must be paid two years (24 months) from now. Starting today, interest will accumulate on the balance at 3.80% compounded monthly. Mr. Harrington will make a payment of $7000 4 months from now and $8000 18 months from now. What is the value of i (the periodic interest rate)? a. 0.001583 b. 1.900000 c. 0.009500 d. 0.003167