Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Purchase Price Replacement Cost ACV Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs $3,500 3,125 $875 1,563 500 $3,850 3,750 1,200

image text in transcribed
Purchase Price Replacement Cost ACV Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs $3,500 3,125 $875 1,563 500 $3,850 3,750 1,200 1,000 Appliances 375 900 750 125 DVD player Sound system 150 1,200 1,000 400 Furnishings Antique rugs Sculptures Throw blankets and pillows 11,250 10,000 375 3,375 12,000 225 13,500 12,000 450 TOTAL: $46,688 $30,347 $56,026 Jonas has a $57,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property covered. Purchase Price Replacement Cost ACV Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs $3,500 3,125 $875 1,563 500 $3,850 3,750 1,200 1,000 Appliances 375 900 750 125 DVD player Sound system 150 1,200 1,000 400 Furnishings Antique rugs Sculptures Throw blankets and pillows 11,250 10,000 375 3,375 12,000 225 13,500 12,000 450 TOTAL: $46,688 $30,347 $56,026 Jonas has a $57,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property covered

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Federal Tax Accounting 2022

Authors: Frank L. Brunetti

1st Edition

080805631X, 9780808056317

More Books

Students also viewed these Accounting questions

Question

Do you suggest Lisa use a PEO? Why?

Answered: 1 week ago