The value of a bank's assets is than its liabilities, the bank is said to be <u>solvent</u>
<h3>What is assets?</h3>
Any resource that a company, an organization, or an economic body owns or controls is considered an asset. It encompasses everything that has the potential to generate gains in the economy. When turned into money, assets indicate the worth of ownership.
<h3>What do you mean by solvent in accounting?</h3>
A company's capacity to fulfill its short-term and long-term financial commitments is known as its solvency. One indicator of a company's financial health is its level of solvency, which reveals whether it will be able to continue running its business into the near future. Ratio analysis is a tool investors can use to assess a company's solvency.
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Answer and Explanation:
The computation is shown below:
As we know that
Monthly payment of a loan is given by
P = L [r(1 + r)^n] ÷ [(1 + r)^n - 1]
where,
P = Monthly payment = ?
r = Interst rate = 0.1 ÷ 12 = 0.00833
n = Term = 15 × 12 = 180
L = Loan amount = 900000
Now
P = $900,000 [0.00833(1 + 0.00833)^180] ÷ [(1 + 0.00833)^180 - 1]
= $9671.4461
Now
The Monthly payment for 30-year loan
P = $900,000[0.00833(1 + 0.00833)^360] ÷ [(1 + 0.00833)^360 - 1]
= $7898.1441
So,
Difference is
= $9671.4461 - $7,898.1441
= $1,773.3019
b.
Now
Total payment for 30-year loan is
= $7,898.1441 × 180
= $2,843,331.8871
And,
Total payment for 15-year loan is
= $9,671.4461 × 360
= $1,740,860.2907
So,
Difference is
= $2,843,331.8871 - $1,740,860.2907
= $1,102,471.60
i.e. option c
Answer:
1) Colt Carriage Company
Income Statement
For the month ended April 202x
Revenues:
- Adults passengers $186,300
- Children $81,000
- Total revenues $267,300
Variable costs:
- City fees $26,730
- Souvenirs $7,425
- Brokerage fees $11,340
- Carriage drivers $52,650
- Total variable costs <u>$98,145</u>
Contribution margin $169,155
Period costs:
- Depreciation $2,900
- Horse leases $48,000
- Marketing expenses $7,350
- Payroll expenses $7,600
- Total period costs <u>$65,850</u>
Operating profit $103,305
2) If the total amount of passengers increase by 10%, then all variable costs will increase by 10% except brokerage fees which would increase only by 6%. Revenues should also increase by 10%. Period costs should not change.
Contribution margin should increase by 10.29% and operating profit would increase by 16.81%.
Explanation:
since the information is not complete, I looked it up:
Revenues
13,500 passengers:
8,100 x $23 = $186,300
5,400 x $15 = $81,000
total $267,300
variable costs:
fees paid to the city 10% of total revenue
souvenirs $0.55 per passenger
brokerage fees 60% of total tickets x $1.40
carriage drivers $3.90 per passenger
fixed costs:
depreciation $2,900
horse leases $48,000
marketing expenses $7,350
payroll expenses $7,600
If japanese autos surge in popularity in the united states, then this event is most likely to cause the japanese yen to appreciate and the U.S dollar to depreciate.
<h3>What are the automotive industries in the Japan?</h3>
The automotive industry in Japan is considered as one of the most prominent and largest industries in the world. It is a major pillar of the country's economy.
Some of the major Japanese automotive manufacturers include Toyota, Nissan, Mazda, Subaru, Mitsubishi, Honda, Suzuki, Isuzu, Daihatsu, and Mitsuoka.
Basically, the automotive sector in Japan is the third-largest automotive producing industry in the world.
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