Which of the following is not a common term for a mortgage loan? A. 30 years B. 20 years C. 15 years D. 10 years

Young Company lends Dobson industries $40000 on August 1, 2022, accepting a 5-month, 9% interest note. If Young Company prepares

enot [183]

Answer:

INTEREST RECEIVABLE - - - - - - - - - 1500

INTEREST REVENUE - - - - - - - - - - - 1500

Explanation:

Lent amount = $40,000

Interest rate = 9%

Duration = August 1 - December 31st = 5 months

Lent amount × interest rate × duration

$40,000 × 0.09 × (5/12)

= $1500

Adjustment :

INTEREST RECEIVABLE - - - - - - - - - 1500

INTEREST REVENUE - - - - - - - - - - - 1500

5 0

3 years ago

3 tips you give someone who is about to invest their money<br> for the first time

DerKrebs [107]

Start Investing With A Game Plan.

- Before you invest your first dollar into the stock market ask yourself, "Why am I investing, and what do I want to achieve?"
- Diversify. Investing is about more than just the stock market. ...
- Define Your Goals.
- Stay Committed.
- Don't Panic.
- Stick To One Strategy.
- Practice Patience.
- Think Long Term.

6 0

3 years ago

Bailey, a single taxpayer, obtains permission to change from a calendar year to a fiscal year ending June 30, 2019. During the s

lisabon 2012 [21]

Answer:

Correct option is c.$64,000

Explanation:

given data

earn = $40,000

deductions = $8,000

time = 6 month

solution

we get here amount of her annualized income that is express as

amount of her annualized income = ( earn - deduction ) × time duration

amount of her annualized income = ( $40,000 - $8,000 ) × $\frac{6}{12}$

amount of her annualized income = $64,000

so correct option is c.$64,000

8 0

3 years ago

Quality Cars, an independent used-car dealership, utilizes long-term consumer credit in its business. Typically, consumers are a

slavikrds [6]

Answer: The correct answer is "installment accounts".

Explanation: The quality cars business model implies that customers can pay a reduced percentage of the cash price, and for the remaining balance a financing over 48 months, charging a monthly interest for that balance. Thus Quality Cars is employing<u> installment accounts</u> in its business.

7 0

3 years ago

Customer Z is a single 26-year-old man who earns $125,000 annually. He informs you that he is getting married and that his new w

Leto [7]

Answer: C. open a cash account and invest in mutual funds holding high yielding common and preferred stocks

Explanation:

Investing in Mutual funds which hold high yielding common and preferred shares is the best option here. The dividends received will be high enough but will not be taxed too much as dividend tax is limited to 15% thereby saving the investment on taxes.

Also seeing as they will require the investment in other to buy a house in 5 years, they will need something that can be easily liquidated. Mutual funds are easy to liquidate from and so their investment here can be easily withdrawn when the time comes to allow them meet the house down payment.

4 0

3 years ago