Page 8 - CalcBus_Flipbook

iv Table of Contents

III. INSURANCE, MERCHANDISING and PAYROLL

CHAPTER 12 Insurance & Risk Management
FIRE INSURANCE (3) — Premiums for Fire Insurance (3) — Basic Rates (3) —
Short-Term Rates (4) — Policy Cancellation by the Insured (4) — Cancellation by the
Insurance Company (4) — Fire Loss Indemnity (5) — Indemnity Settlement Under an
Ordinary Fire Policy (5) — Coverage and claims settlement when more than one Insurance
Company insures the same property (6) — Settlement Under Coinsurance (6) — How is the Co-
Insured liability (Indemnity) Calculated? (7) — The Bottom Line (7) — LIFE INSURANCE (7)
— Types of Life Insurance Policies (8) — Insurance vs. assurance (8) — Universal life
insurance coverage (8) — Whole life (8) — Endowments (8) — Group insurance (8) — Term
insurance (9) — Mortgage life insurance (9) — Lifetime Policies (9) — Premiums for Life
Insurance (10) — Life Insurance Dividends (10) — Taxes on Life Insurance policies (11) —
Nonforfeiture Values (11) — Borrowing on a Life Insurance Policy (13) — Life
Insurance Settlement Options (13) — The Bottom Line (14) — VEHICLE INSURANCE
(14) — Types of Vehicle Insurance Coverage (15) — Bodily Liability coverage (16) —
Personal injury protection (16) — Property Damage Liability (16) — Collision insurance (16) —
Comprehensive insurance (16) — Uninsured motorist insurance (16) — Underinsured motorist
insurance (16) — No-Fault Insurance (16) — Medical payments coverage (16) — Gap insurance
(16) — Towing and labor insurance (16) — Premiums for Vehicle Insurance (17) — Usage
Classes (17) — Territory Rates (17) — Automobile Value (18) — Homework 12-1 (21) -
Homework 12-2 (25)

CHAPTER 13 Merchandising
PURCHASE DISCOUNTS (2)— Trade Discounts (2) — A Single Trade Discount (2) — Series of
Discounts (4)— Single Equivalent Discount Rates (5) — Discount thinking only in terms of
percentages (7) — Cash Discounts (8) — Ordinary Dating (8) — End of Month Dating (9) — Three
issues with payments on invoices (12) — Leniency and grace with EOM invoices (12) — Date-
Driven and Relative Clarifications (12) — Receipt-of-Goods Dating (ROG) (13) — bill of lading
(13) — letter of credit (13) — Extra Dating (14) — Trade and Cash Discounts on the Invoice (15) —
Returned Goods (16) — Freight Charges (16) — Partial Payment of Invoice (17) — BORROWING
TO MEET CASH DISCOUNTS TIME FRAMES AS A PROFIT CENTER: CASH DISCOUNTS
COMPARED TO SIMPLE INTEREST, CASH DISCOUNT RETAINED (19) — PRICING
MERCHANDISE (20) — Markup Equation (20) — Markup Based on Cost (21) — Arithmetic
Gymnastics (21) — Calculating Cost when Selling Price and Markup or Markup Rate are known
(22) — Markup Based on Selling Price Expressed as a Percent (23) — Calculating the Selling Price
When Markup is Based on Selling Price expressed as percents (23) — When Markup is based on the
selling price the Cost can be calculated (24) — Calculating the Markup rate Based on Selling Price
(25) — Homework 13-1 (27) — Homework 13-2 (31) — Homework 13-3 (35)

CHAPTER 14 Payrolls, Wages and Commissions
GROSS PAY (2) — Measuring Time (2) — Piecework (3) — Wages on hours worked plus
Productivity (piecework) (4) — Differential Piecework – progressive output (4) — Efficient
Production Bonus for time (4) — Extra Production Premium (5) — Commission Earnings (6) —
Straight Commission (6) — Salary and Commission (6) — Graduated Commission (6) — NET PAY
(7) — Employees' Social Security and Medicare Deductions (FICA) (7) — Tax rates and the social
security wage base limit (7) — 1. Retirement Benefits (7) — 2. Disability Benefits (8) — 3.
Survivors Benefits (8) — 4. Medicare (8) — 5. Congress borrows (8) — Employee Federal Income
Tax Withholding (10) — Federal Income Tax Withholding Tables (10) — Voluntary Employee
Deductions (11) — Employees' Earnings Record (14) — Homework 14-1 (15) — Homework 14-2
(17)