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4 years ago

A FICO score is a way of _____.

1 answer:

8 0

A.

A FICO score is a number that banks use when deciding if and how much money they will let you borrow. It's one of many types of credit scores and is determined by the following factors...

Payment history (35 percent)

Amounts owed (30 percent)

Length of credit history (15 percent)

Credit mix (10 percent)

New credit (10 percent)

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An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee wo

nordsb [41]

Answer and Explanation:

a. The computation of the gross pay for the week is shown below

Regular pay ($28 ×40 hours) $1,120

Overtime pay (6 hours × $28 × 1.5) $252

Total gross pay $1,372

b. The computation of the net pay for the week is given below:

Gross pay $1,372

Less:

FICA ($1,372 × 7.5%) $103

Federal income tax $200

Net pay $1069.10

6 0

3 years ago

Current assets for two different companies at fiscal year-end are listed here. One is a manufacturer, Rayzer Skis Mfg., and the

professor190 [17]

Answer:

Requirement 1

Relating to manufacturer

Cash

Raw materials inventory

Work in process inventory

Finished goods inventory

Accounts receivable, net

Relating to merchandiser

Cash

Merchandise inventory

Accounts receivable, net

Prepaid expenses

Requirement 2

Company Rayzer Skis Mfg Sunrise Foods

Current Asset Section:

Cash 11,000 9,000

Raw materials inventory 39,875 N/A

Merchandise inventory N/A 42,875

Work in process inventory 29,000 N/A

Finished goods inventory 49,000 N/A

Accounts receivable, net 56,000 75,000

Prepaid expenses 4,500 900

Total 189,375 127,775

Explanation:

manufacturer produces goods then sells finished goods

merchandiser purchases goods for resale

3 0

3 years ago

If the demand for donuts is elastic, then a decrease in the price of donuts will:.

svet-max [94.6K]

Answer:

Explanation:

When demand is inelastic, a decrease in price will cause.

8 0

2 years ago

The total assets on the balance sheet was $128,800 before journalizing and posting the adjusting entries for $800 of expired ins

Tanya [424]

Given:

Total assets before journalizing and posting the adjusting = $128,800

Expired insurance = $800

Expired rent = $2,400

Depreciation = $900

To find:

Total assets after journalizing and posting the adjusting

Solution:

To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.

The calculation is as follows,

Total assets after journalizing and posting the adjusting

$\Rightarrow\$128,800 - \$800 - \$2,400 - \$900 = \$124,700$

Therefore, the required value of the total assets after journalizing and posting the adjusting is $124,700.

8 0

3 years ago

You receive $100 today, $200 in one year, and $300 in two years. If you deposit these cash flows into an account earning 12

Lisa [10]

Answer:

$628.49

Explanation:

Cash flows Discount factor Future value

$100 1.1449 $114.49

$200 1.07 $214

$300 1 $300

Future value $628.49

The discount factor is as follows

= (1 + interest rate)^number of years

For $100 the year is 2

For $200 the year is 1

For $300 the year is 0

3 0

3 years ago