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Oliga [24]
3 years ago
11

Martinez Corp. purchased a delivery van with a $57000 list price. The company was given a $5400 cash discount by the dealer, and

paid $2600 sales tax. Annual insurance on the van is $1200. As a result of the purchase, by how much will Martinez Corp. increase its van account?
Business
1 answer:
WITCHER [35]3 years ago
5 0

Answer:

VAN = 51,600

Explanation:

57,000

-5,400 discounts

51,600

<em />

<u>Notes</u>

  • <em>The sales tax is part of the list price, it must be accounted for the seller part. not the buyer.</em>
  • <em>The insurance will be a prepaid insurance, not part of the van</em>
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In elementary school, your second grade teacher probably led his students from the classroom to the lunch room or the library by
Andrew [12]

Answer:

The correct answer is command economy.

Explanation:

The planned or centralized economy is one in which the key questions of the economy about what, how and for whom to produce are resolved directly by the State.

The planned economy has as its main objective the equal distribution of income. For this, the State must intervene in the economy and take charge of the tasks of distribution of resources. They require the replacement of private property by the collective in the means of production, exchange and distribution. It is a type of economic system contrary to capitalism or market economy.

7 0
3 years ago
What three spending accounts can Leslie adjust now to better match what’s in her budget (select all that apply)
liq [111]

Answer:

The answer is A, D, E

Explanation:

I just answered the question.

4 0
3 years ago
International Imports (I2) pays an annual dividend rate of 10.20% on its preferred stock that currently returns 13.67% and has a
Goryan [66]

Answer:

The market price/value of the share of preferred stock is $74.62

Explanation:

The preferred stock pay 10.2% return on $100 per share which comes out to be 100 * 10.2% = $10.2. This dividend will remain constant no matter what the price in the market is. The price in the market is calculated by dividing the ineterest payment by the current price of the share. The formula for the current return of the preferred stock is:

0.1367 = 10.2 / P

P = 10.2 / 0.1367

P = $74.615 rounded off to $74.62

5 0
2 years ago
Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have normal balances. Deficit (debit
horsena [70]

Answer:

The shareholders equity as of 31 December, 2018 is $32,240

Explanation:

Here for calculating the shareholders equity we will first have to find the total paid in capital of the Yellow enterprises and after that we will subtract the deficit balance that is remained in the retained earnings account, by doing this we will get the total paid in capital and retained earnings. Now we just have to subtract the treasury stock from the total paid in capital and retained earnings to get the remaining balance , which would be the shareholders equity of the Yellow enterprises.

so first step would be taking out total paid in capital =

                         common stock

                                   +

                         paid in capital(excess of par)

                                   +

                        paid in capital treasury stock

=       2700 + 31,500 + 1300

Total paid in capital = $35,500

Next step is to subtract deficit balance in retained earnings from this to get the total paid in capital and retained earnings =

   total paid in capital - deficit balance in retained earnings

Total paid in capital and retained earnings = $35,500 - $3000

                                                                        = $32,500

Now the last step for taking out shareholders equity we will subtract the treasury stock from the total paid in capital and retained earnings,

Shareholders equity = total paid in capital and retained earnings

                                                          -

                                              treasury stock at cost

                                   = $32,500 - $260

                                    = $32,240

3 0
3 years ago
Use the following advice from most financial advisors to solve the problem. ∙ Spend no more than 28% of your gross monthly incom
Aliun [14]

Answer:

a) $1,400

b) $1,800

c) $820

Explanation:

If the annual income is $60,000, the gross monthly income is I=60,000/12=5,000.

a) The maximum amount you should spend each month on a mortgage payment is:

MP=0.28*I_m=0.28*5,000=1,400

b) The maximum amount you should spend each month for total credit obligations (including mortage) is:

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c) If we need only 70% of the maximum allowed for the mortage, we have more income available for other debt payments.

The 70% represents:

MP'=0.7*(0.28*5,000)=980

We substract this from the total budget for debt payments and we have the budget for all other debts but mortage:

ODP=1800-980=820

3 0
3 years ago
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