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<span>Finance
charge can be defined as the amount charged by a creditor to a debtor as
borrowing fees or by a seller to a buyer for allowing the buyer to extend the
payment period for a certain good/service. In this case, the original price
of the car was $3,250. But since Michael's Plumbing was not able to pay the
full amount at once, they made a down payment of $450 and later 24 equal
installments of $150. In total, the amount paid will be (450+(150*24))=
$4,050. The finance charge is what they will pay over and above the initial
cash price. This is arrived at by getting the difference as follows
$4,050-$3,250= $800</span></span>
Answer:
d. Assets understated by $670.000, liabilities understated by $234,500 and shareholders' equity understated by $435,500
Explanation:
Assets in Inventory will be understated by $670.000, this will also understate the tax payable to authorities by $234,500 because profits will be understated and equity will be understated by $435,500.
Answer:
the investor must file a 13D report with the SEC.
Explanation:
Any investor that holds more than 5% of the outstanding stocks of a publicly traded corporation must file a 13D report. The investor is classified as a beneficial owner by the Securities and Exchange Commission (SEC) since their influence and voting power in the corporation are very large. It must be filed within 10 days of the transaction that resulted in more than 5% in the corporation.
Answer:
gain of $10,000
Explanation:
The gain or loss that Tradewinds will have is the difference between the trade-in amount and the basis minus accumulated depreciation:
gain / loss = trade-in amount - (basis - accumulated depreciation) = $60,000 - ($600,000 - $550,000) = $60,000 - $50,000 = $10,000
since the result is a positive number, it is a gain
General revenues fund budget is a budget for a nondedicated revenue account that functions as the state's primary operating fund.
A general fund is defined as general purpose and restricted revenues in finance, it is reflected as the major share of the state
