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3 years ago

5

Robert has a monthly income of $1,650.00. His monthly mortgage payment is $675.00. What percentage of his income does Robert spe

nd on his mortgage? A. 34.7% B. 40.9% C. 40.2% D. 37.8%

1 answer:

makkiz [27]3 years ago

6 0

Answer:B.40.9%

Explanation:

If $675 spend on mortgage and his monthly income is $1650

So the percentage will be:

$675 / $1650 × 100

= 0.409 ×100

= 40.9%

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The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:

Savatey [412]

Answer: $1,063,000

Explanation:

Net realizable value is the value of an asset that a company will get when the asset is sold minus the cost that came with the asset sales.

The net realizable value of the accounts receivable will be the accounts receivable of $1,100,000 minus the allowance for uncollectible accounts which was given as $37,000.

= $1,100,000 - $37,000

= $1,063,000

7 0

3 years ago

Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate

Strike441 [17]

Answer: See explanation

Explanation:

Sales = 747300

Less: Costs = 582600

Less: Depreciation = 89300

EBIT = 75400

Less: Taxes at 22% = 22% × 75400 = 16588

Net income = EBIT - Taxes = 75400 - 16588 = 58812

a. Calculate the OCF.

OCF will be calculated as:

= Net income + Depreciation

= 58812 + 89300

= 148,112

b. What is the depreciation tax shield?

Depreciation tax shield will be:

= Depreciation × Tax rate

= 89300 × 22%

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= 19646

5 0

2 years ago

Carbamate Manufacturing produces a pesticide chemical and uses process costing. There are three processing departmentslong dash

Kamila [148]

Answer:

<em>Equivalent unit for conversion cost= 31,280 units</em>

Explanation:

<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked. </em>

<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work</em>

Equivalent unit = Degree of completion × number of units

<em>Equivalent unit for conversion cost</em>

Item units Equivalent unit

transferred 29,000 100%× 29,000 = 29,000

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Total equivalent unit <u>31,280</u>

<em>Equivalent unit for conversion cost= 31,280 units</em>

3 0

3 years ago

Han Corp's sales last year were $425,000, and its year-end receivables were $52,500. The firm sells on terms that call for custo

Zina [86]

Answer:

d. 15.09

Explanation:

425,000 sales

52,500 AR

year of 365 days

<u>Days Sales Outstanding</u>

$\frac{52,500}{425,000}\times 365 = 45.088 = 45.09$

<u>Average days late</u>

$Days \: Sales \: Outstanding - \: Allowed \: credit \: period = average \: days \: late$

45.09 - 30 = 15.09

in average customer pays within 45 days.

That is 15.09 days above the allowed credit period.

4 0

3 years ago

If $1,000,000 of 9% bonds are issued at 102 3/4, the amount of cash received from the sale is

Marina86 [1]

Answer:

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First we need to find the number of bonds issued so we will divide 1,000,000 by 100 as we assume 100 is the face value. 1,000,000/100=10,000

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6 0

2 years ago