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2 years ago

What is the guideline amount for an emergency fund

Business

1 answer:

Tanzania [10]2 years ago

8 0

Answer:

While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.

Explanation:

While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.

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The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The follo

Inessa05 [86]

Answer:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

Explanation:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

<u>Dividends payable a/c</u>

<u>Particulars Amount Particulars Amount</u>

Balance b/d $ 13,000

Dividend paid (Cash) $ 54,500 Dividend declared $57,000

Balance c/d $ 15,500

$ 70,000 $ 70,000

Therfore, The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

8 0

3 years ago

ou wish to retire in 20 years, at which time you want to have accumulated enough money to receive an annual annuity of $32,000 f

AleksAgata [21]

Answer:

Annual contributions to the retirement fund will be $6,347.31

Explanation:

First find the Present Value of the Annuity giving payments of $32,000 annually for 25 years at the rate of 10%.

Using a Financial Calculator enter the following data

PMT = $32,000

P/y = 1

N = 25

R = 10%

FV = 0

Thus, the Present Value, PV is $290,465.28

At the time of retirement (in 20 years time) the Value of the annuity fund is $290,465.28.

Next we need to find the Payments PMT to reach this amount in 20 years time at the interest rate of 8%

Using a Financial Calculator enter the following data

FV = $290,465.28

N = 20

R = 8 %

PV = $0

Thus, the Payments, PMT required will be $6,347.3080

Conclusion :

Annual contributions to the retirement fund will be $6,347.31

3 0

3 years ago

Montclair Company is considering a project that will require a $610,000 loan. It presently has total liabilities of $165,000 and

Leya [2.2K]

Answer:

32.35% or 0.33

151.96% or 1.52

The new borrowing would make the financing structure more risky since the amount of fixed interest payment would increase significantly

Explanation:

Current debt to equity ratio:

Debt to equity=debt amount/equity amount

Current debt is $165,000

current equity is $675,000

equity =total assets-debt

debt to equity ratio=$165,000/($675,000-$165,000)=32.35%

If the $610,000 is borrowed ,the debt value would increase by $610,000

new debt value=$165,000+$610,000=$ 775,000.00

New debt to equity ratio= $775,000.00/$510,000.00=151.96%

6 0

2 years ago

Cabell Products is a division of a major corporation. Last year the division had total sales of $25,320,000, net operating incom

aalyn [17]

Answer:

ROI = Net operating income x 100

Average operating assets

ROI = $1,924,320 x 100

$6,000,000

ROI = 32.1%

The correct answer is C

Explanation:

ROI is the ratio of net operating income to average operating assets multiplied by 100.

3 0

3 years ago

A movie star was paid $1 million in 1960 to do a movie. the cpi was 29.3 in 1960 and the cpi in 2017 was 255. approximately how

densk [106]

CPI is the Consumer Price Index.
CPI is one of the most used statistics.
In 1960 : CPI 29.3 --------------100 %
In 2017 : CPI 255 --------------- x %
-----------------------------------------------------
29.3 : 255 = 100 : x
29.3 x = 25,500
x = 25,500 : 29.3
x = 870.3 %
For $1 million in 1960 there is $8.703 million in 2017.
Answer: The movie star earned $8.703 million in 2017.

4 0

3 years ago