Mẹo What is the purpose of the South Carolina Life and health insurance Guaranty Association Quizlet ?
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- What is the purpose of life and health insurance guaranty association?What is the purpose of the Louisiana life and health insurance guaranty association quizlet?Which of the following types of policies are protected by the South Carolina guaranty association?What is the power of the guaranty association?
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QUESTION
Helen Bowers, owner of Helen’s Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of 2022 and 2022. $$ beginmatrix textMay 2022 & text$ 180.000\ textJune & text180.000\ textJuly & text360.000\ textAugust & text540.000\ textSeptember & text720.000\ textOctober & text360.000\ textNovember & text360.000\ textDecember & text90.000\ textJanuary 2022 & text180.000\ endmatrix $$ Estimates regarding payments obtained from the credit department are as follows: collected within the month of sale, 10%; collected the month following the sale, 75%; collected the second month following the sale, 15%. Payments for labor and raw materials are made the month after these services were provided. Here are the estimated costs of labor plus raw materials: $$ beginmatrix textMay 2022 & text$ 90.000\ textJune & text90.000\ textJuly & text126.000\ textAugust & text882.000\ textSeptember & text306.000\ textOctober & text234.000\ textNovember & text162.000\ textDecember & text90.000\ endmatrix $$ General and administrative salaries are approximately $27,000 a month. Lease payments under long-term leases are$9,000 a month. Depreciation charges are $36,000 a month. Miscellaneous expenses are$2,700 a month. Income tax payments of $63,000 are due in September and December. A progress payment of$180,000 on a new design studio must be paid in October. Cash on hand on July 1 will be $132,000, and a minimum cash balance of$90,000 should be maintained throughout the cash budget period. a. Prepare a monthly cash budget for the last 6 months of 2022. b. Prepare monthly estimates of the required financing or excess funds—that is, the amount of money Bowers will need to borrow or will have available to invest. c. Now suppose receipts from sales come in uniformly during the month (that is, cash receipts come in the rate of 1/30 each day), but all outflows must be paid on the 5th. Will this affect the cash budget? That is, will the cash budget you prepared be valid under these assumptions? If not, what could be done to make a valid estimate of the peak financing requirements? No calculations are required, although if you prefer, you can use calculations to illustrate the effects. d. Bowers’ sales are seasonal; and her company produces on a seasonal basis, just ahead of sales. Without making any calculations, discuss how the company’s current and debt ratios would vary during the year if all financial requirements were met with short-term bank loans. Could changes in these ratios affect the firm’s ability to obtain bank credit? Explain.
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What is the purpose of life and health insurance guaranty association?
Life and health insurance guaranty associations were created to protect state residents who are policyholders and beneficiaries of policies issued by a life or health insurance company that has gone out of business.What is the purpose of the Louisiana life and health insurance guaranty association quizlet?
What is the purpose of the Louisiana Life and Health Insurance Guaranty Association? Ensures that claims filed against insolvent insurance companies will be paid.Which of the following types of policies are protected by the South Carolina guaranty association?
Under South Carolina law, the South Carolina Life and Accident and Health Insurance Guaranty Association (SCLAHIGA) may provide coverage of certain direct life insurance policies, accident and health insurance policies, annuity contracts and contracts supplemental to life, accident and health insurance policies and ...What is the power of the guaranty association?
An insurance guaranty association protects policyholders and claimants in the sự kiện of an insurance company's impairment or insolvency. Insurance guaranty associations are given their powers by the state insurance commissioner. Tải thêm tài liệu liên quan đến nội dung bài viết What is the purpose of the South Carolina Life and health insurance Guaranty Association Quizlet