Money owed for products and services purchased on credit to be paid at a later date is known as ____

Arthur is 10 years old. Tuition for one year at a public two-year college is $3,125. In 8 years, tuition is expected to increase

Elenna [48]

Answer: Yes, they could save about $5 less per month and still have enough money.

Explanation: Arthur is 10 years old. Tuition for one year at a public two-year college is $3,125. In 8 years, tuition is expected to increase 32%. Arthur’s family plans to save for his college costs for 5 years. If the family saves $75 per month, will there be enough money to pay for the expected cost of one year at the college when he is 18?

Yes they could save $75 and still have enough money to pay for one year at the college when he is 18.

Workings=

12( months) x 5 (years)= 60 months

If the family save $75 monthly for 5 years

$75 x 60 (months)= $4500

At the end of the family 5 years savings, they would be having a total of $4500 which would be more than enough to pay for the expected cost of one year at the college when he is 18.

7 0

3 years ago

Read 2 more answers

Wagon Department Store had net credit sales of $16,000,000 and cost of goods sold of $15,000,000 for the year. The average inven

miv72 [106K]

Answer:

7.5 times

Explanation:

Inventory turnover = $\frac{Cost \: of\: goods\: sold}{Average\: Inventory}$

We have been provided that,

Cost of goods sold = $15,000,000

Average inventory for the year = $2,000,000

Therefore, Inventory Turnover ratio = $\frac{15,000,000}{2,000,000}$

= 7.5 times

It means on an average how many times the inventory is sold, and replaced during the period.

8 0

4 years ago

Every year, Shawna Stuart, the Director of Sustainability at Academic University, sees students throwing away perfectly good fur

lawyer [7]

Answer:

1. The question that you should ask during the development of strategic goals for the organization is:

a. Should our company focus more on giving things away, or on selling things for a reduced price to those in need?

2. The time-frame that the group should consider for this plan is:

b. Long-term (Five years or more)

Explanation:

A strategic plan is made up of the organization's mission, vision, and values, as well as its long-term goals. These are backed up with the action plans for attaining the long-term goals. A strategic plan should involve the whole of the organization and remain futuristic. It does not concentrate on short-term objectives. Instead, a strategic plan concentrates on long-term goals with its duration period lasting five years or more.

8 0

3 years ago

Levered, Inc., and Unlevered, Inc., are identical in every way except their capital structures. Each company expects to earn $29

Ugo [173]

Answer:

Levered - $280,800,000

Unlevered - $398,400,000

Explanation:

The formula to compute the equity value is shown below:

Equity value = Number of outstanding shares × current worth per share

For Levered, the equity value would be

= 2,600,000 shares × $108

= $280,800,000

For Unlevered, the equity value would be

= 4,800,000 shares × $83

= $398,400,000

We simply multiply the number of outstanding shares with the current worth per share so that the equity value can come.

7 0

4 years ago

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i

alekssr [168]

Answer:

The Gourmand Cooking School

1. Planning Budget for September:

Fixed Cost Cost per Cost per Planning

per Month Course Student Budget

Instructor wages $ 2,960 $11,840

Classroom supplies $ 270 16,740

Utilities $ 1,220 $ 75 1,520

Campus rent $ 4,800 4,800

Insurance $ 2,300 2,300

Administrative expenses $ 3,900 $ 44 $ 7 4,510

Total $41,710

2) Flexible Budget for September:

Fixed Cost Cost per Cost per Flexible

per Month Course Student Budget

Instructor wages $ 2,960 $11,840

Classroom supplies $ 270 15,120

Utilities $ 1,220 $ 75 1,520

Campus rent $ 4,800 4,800

Insurance $ 2,300 2,300

Administrative expenses $ 3,900 $ 44 $ 7 4,468

Total $40,048

3. The Revenue and Spending Variances for September (based on flexible budget):

Planning Flexible Actual Spending

Budget Budget Variance

Revenue $55,180 $46,280 $52,280 $6,000 F

Instructor wages $11,840 $11,840 $11,120 $720 F

Classroom supplies 16,740 15,120 16,590 1,470 U

Utilities 1,520 1,520 1,930 410 U

Campus rent 4,800 4,800 4,800 0 None

Insurance 2,300 2,300 2,440 140 U

Administrative expenses 4,510 4,468 3,936 532 F

Total $41,710 $40,048 $40,816 $768 U

Explanation:

a) Data and Calculations:

Sales price per student = $890

Planned number of courses = 4

Planned total number of students = 62

Actual number of courses ran = 4

Actual total number of students = 56

Data concerning the company’s cost formulas appear below:

Fixed Cost Cost per Cost per

per Month Course Student

Instructor wages $ 2,960

Classroom supplies $ 270

Utilities $ 1,220 $ 75

Campus rent $ 4,800

Insurance $ 2,300

Administrative expenses $ 3,900 $ 44 $ 7

Actual Results:

Actual Revenue $ 52,280

Instructor wages $ 11,120

Classroom supplies $ 16,590

Utilities $ 1,930

Campus rent $ 4,800

Insurance $ 2,440

Administrative expenses $ 3,936

4 0

3 years ago

Money owed for products and services purchased on credit to be paid at a later date is known as _____.