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3 years ago

14

You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40

late fee. What is the late fee as a percentage of your balance?

1 answer:

Andre45 [30]3 years ago

5 0

The answer is 20%, 40 is 1/5 of 200, therefore it is 20%

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During March, the production department of a process operations system completed and transferred to finished goods 25,000 units

lesya692 [45]

Answer:

175,000 units

Explanation:

total transferred units = beginning work in progress units + number of units started and completed

beginning work in progress = 25,000 units
units started and completed during March = 150,000 units

total transferred units = 25,000 + 150,000 = 175,000 units

7 0

3 years ago

The balance of the revenue account is transferred to the

miv72 [106K]

Credit side of a the balance of revenue account is transferred

6 0

3 years ago

You are given the following information for Lightning Power Co. Assume the company's tax rate is 35 percent.

olga55 [171]

Answer:

The company's WACC is 9.14%

Explanation:

cost of preferred stock

= (dividend on preferred stock)/(current market price)

= [$100*4%]/$72

= 5.56%

total finance = debt + equity + preferred stock

= (8,000*$1,060) + (310,000*$57) + (15,000*$72)

= $8,480,000 + $17,670,000 + $1,080,000

= $27,230,000

weight of debt = debt/total finance

= $8,480,000/$27,230,000

= 0.31

weight on equity = equity/total finace

= $1.080.000/$27,230,000

= 0.04

WACC

= (weight of debt*after tax cost of debt) + (weight on equity*cost of equity)

= (0.31*0.0393) + (0.65-0.1185) + (0.04*0.0556)

= 9.14%

Therefore, The company's WACC is 9.14%

5 0

3 years ago

Formal planning means specific goals are formulated and never reduced to writing but simply communicated.

Alexxx [7]

<span>The statement that formal planning means specific goals are formulated and never reduced to writing but simply communicated is false.
</span><span>In opposite formal planning is type of strategic planning that includes writing of the organization's goals and objectives. The given definition refers to the informal planning. </span>

3 0

3 years ago

Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place.The following data

kramer

Answer:

a. The working capital is $625,000

b. The current ratio is 2.82

c. The quick ratio is 2.08

Explanation:

In order to calculate the working capital first we need to calculate the Current Assets and the Current Liablities as follows:

Current Assets = Cash + Accounts receivable + Inventory + Prepaid Expenses + Temporary investments

= 154,000+210,000+240,000+15,000+350,000

=$969,000

Current Liablities = Accounts payble + Accrued liablities + Income tax payable + Notes payable,short term

= 245000+4000+10000+85000

=$344,000

a. Therefore, working capital = Current Assets - Current liabilities

= 969000 - 344000

= $625,000

b. To calculate the current ratio we have to use the following formula:

current ratio = Current Assets / Current liabilities

=969,000 /344,000

= 2.82

c. To calculate the quick ratio we have to use the following formula:

quick ratio = (Cash + Accounts receivable + Temporary investments ) / Current liabilities

= (154,000+210,000+350,000) / 344,000

= 2.08

7 0

3 years ago