The ways in which the world's economies are linked

Jacobi Supply Company recently ran into certain financial difficulties that have resulted in the initiation of voluntary settlem

Mashcka [7]

Answer: Composition

Explanation:

The company owes $150,000 and would pay $0.50 on every dollar immediately.

The cash payment required of the company would therefore be:

= Amount of debt in $ - Amount to be paid per dollar.

= 150,000 * 0.5

= $75,000

Timing of payment is immediately.

A composition refers to an agreement between a debt and its creditors that would allow it to pay off part of its debt in lieu of the total value. This is usually done when the debt risks being insolvent or bankrupt but can still pay off part of its debt.

The agreement would enable it pay off some of the debt and the entire debt would be written off. The benefit to the debtor is that they avoid bankruptcy and the benefit to the creditor is that they get more than they would have gotten had bankruptcy been declared.

A composition is what happened here as a part of debt was paid to satisfy the full thing.

5 0

2 years ago

11. Nadine is retiring at age 62 and expects to live to age 85. On the day she retires, she has $402,000 in her retirement savin

Svet_ta [14]

Answer:

E. $2,688.77

Explanation:

We need to calculate the PMT of an ordinary annuity at 6%

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 402,000

time:

85 years - 62 years = 23 years of retirement

23 years x 12 months per year = 276 months

rate: 6% annual rate we must divide over 12 months to convert into monthly: 0.06/12 = 0.005

$402000 \div \frac{1-(1+0.005)^{-276} }{0.005} = C\\$

C $ 2,688.766

<em>She can withdraw 2,688.76 per month</em>

7 0

3 years ago

On May 7, Keenan Company purchased on account 620 units of raw materials at $21 per unit. During May, raw materials were requisi

a_sh-v [17]

Answer:

Dr Material Inventory $13,020

Cr Trade Payables $13,020

Dr Work In Progress $9,742

Cr Material Inventory $9,742

Explanation:

On 7th May the double entry would be to record the inventory purchases on credit which would increase the inventory by $13,020 (620*21) as under:

Dr Material Inventory $13,020

Cr Trade Payables $13,020

The material sent to production or manufacturing team would be recorded as increase in the work in progress by the value of the material issued which is $9,742 (211*$19 + 273*$21).

Dr Work In Progress $9,742

Cr Material Inventory $9,742

8 0

3 years ago

What is ROI and why does it matter?

Stels [109]

<span>ROI stands for Return On Investment. This is very important when you are making an investment whether it is in terms of training, capital or equipment</span>

8 0

3 years ago

Read 2 more answers

the creation of a home market is not only necessary to procure for our agriculture a just reward of its labors, but it is indisp

Ahat [919]

The United States should increase the domestic manufacturing to promote prosperity.

<h3>What is manufacturing?</h3>

Manufacturing is the creation or manufacturing of items with the aid of resources such as machinery, labor, tools, and chemical or biological processing or formulation. It is the very foundation of the economy's secondary sector. The phrase can be used to characterize a range of human undertakings, from handicraft to high-tech, but it is most usually used in relation to industrial design, which entails the extensive transition of raw materials from the primary industry into finished goods. Such products may be delivered via the tertiary industry to end users and consumers, sold to other manufacturers for the creation of other, more sophisticated products (such as aircraft, home appliances, furniture, and sports equipment), or both (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers).

To learn more about manufacturing, visit:

brainly.com/question/17052484

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7 0

1 year ago