Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Central Warehousing, Ltd. has a small office building on 1st Ave. During the current policy year, there were three loss events at the 1st Ave.

Central Warehousing, Ltd. has a small office building on 1st Ave. During the current policy year, there were three loss events at the 1st Ave. building: In February, a $2,500 computer was stolen; In April, a fire started in a waste basket in one of the conference rooms, spreading throughout the room before the sprinkler system put it out, resulting in $5,000 in damage; and in November, Jordan Roberts, a Central customer, fell on the ice that the building's custodian neglected to salt after an early snow storm, incurring injuries which she agreed to settle for $12,000. Central's CEO has asked you to look over the insurance policy to determine how much Central will receive in indemnity for these losses. 


How much will that be if the policy has a $2,000 straight deductible? How much will it be if the policy has a $10,000 annual aggregate deductible?

Step by Step Solution

3.43 Rating (143 Votes )

There are 3 Steps involved in it

Step: 1

Central Warehousing Ltd will receive 17500 in indemnity if the policy has a 2000 straight ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: Larson Kermit, Tilly Jensen

Volume I, 14th Canadian Edition

71051503, 978-1259066511, 1259066517, 978-0071051507

More Books

Students also viewed these Accounting questions

Question

=+a) Find a linear model for this series.

Answered: 1 week ago