Question 3 Benjamin Crook is the proprietor of Collins Home Entertainment Centre.

Question 3 Benjamin Crook is the proprietor of Collins Home Entertainment Centre. Its operations include the sale of discount electrical goods, short-term rental of professional video cameras and recorders as well as a wide range of video movies. The shop also stocks spare parts which are primarily used to service the rental equipment. In March 2021, a truck crashed into Benjamin’s business premises and he lodged an insurance claim for compensation. A breakdown of the amounts comprised in the claim is as follows: Damaged Premises $700,000 Electrical goods 75,000 Hire equipment 130,000 Rental movies 25,000 Spare parts 8,000 Loss of profits from temporary closure of the business 80,000 $1,018,000 After protracted negotiations he receives, and accepts, an offer from the insurance company of “$850,000 in full settlement of the claim”. No explanation is given of how the settlement amount has been calculated. (a) Benjamin Crook seeks your advice as to the assessability of the amount received. (HINT: Read Woellner, Chapters 6-800 to 6-910). (b) What difference (if any) would it have made to your answer if he received the full amount of the initial claim?

Don't use plagiarized sources. Get Your Custom Essay on
Question 3 Benjamin Crook is the proprietor of Collins Home Entertainment Centre.
Just from $13/Page
Order Essay
Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
4.9
Sitejabber
4.6
Trustpilot
4.8
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.
error: Content is protected !!
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code GOODESSAY