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Ierofanga [76]
2 years ago
5

Ted Riley owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings acc

ount with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth $90,000. He still owes $25,000 on his car and $150,000 on his home, and he has a balance on his credit card of $1,600. What is Ted's net worth?
Business
1 answer:
soldier1979 [14.2K]2 years ago
6 0

Answer:

Ted's net worth: 341,100

Explanation:

  • Lexus 40,000
  • Home 275,000
  • Checking account 800
  • Savings account 1,900
  • Mutual fund 110,000
  • Personal assets 90,000

Total Assets: 517,700

  • Car debt 25,000
  • Home debt 150,000
  • Credit card 1.600

Total Liabilities: 176,600

Net Worth: 341,100

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Information for Basic Factory, Inc., as if December 31 follows:
gavmur [86]

Answer:

Basic Factor, Inc.

Cost of Goods Manufactured statement for the year ended December 31:

Opening Raw Materials Inventory = $88,000

Direct Materials = $180,000

Total cost of raw materials available = $268,000

Less Closing Raw Materials Inventory = $68,000

Cost of raw materials used in production = $200,000

Opening goods in process inventory = $25,000

Cost of raw materials used in production = $200,000

Direct Labour = $88,000

Factory Supplies = $9,500

Total Direct Cost = $322,500

Less closing goods in process inventory = $29,800

Prime Cost = $292,700

add Fixed Factory Cost:

Depreciation of Equipment = $27,000

Factory Rent = $20,000

Factory Utilities = $16,000

Factory Insurance = $17,000

Cost of Manufactured Goods = $372,700

Explanation:

Cost of manufactured goods is the managerial accounting term used to describe the total cost incurred in producing goods.  It includes not only the variable costs, but also the fixed costs of production.

A step-by-step method of preparing the statement of Cost of Manufactured Goods (COGM) yields the costs of raw materials available for production, the cost of raw materials used, the total direct cost, and the prime cost.

8 0
3 years ago
Lon has just come home from serving in the Marines and contracts with a local car dealership to purchase a car. The car must be
cricket20 [7]

Answer:

The correct answer is:  A novation.

Explanation:

A novation is the replacement of individuals in a contract with the consent of both parties. The new party takes all the obligation of the initial party and releases the last one from all duty. The novation must be signed for the transferor, the transferee, and the contracting party.

4 0
2 years ago
Alabaster Incorporated wants to be levered at a debt to value ratio of .6 . The cost of debt is 9%. the tax rate is 35% and the
Aleks [24]

Answer:

14.925%

Explanation:

Cost of equity = Unlevered Cost of Equity + (Unlevered Cost of Equity - Cost of debt)*Debt to value ratio / (1-debt to value ratio)*(1-Tax rate)

Cost of equity = 12% + (12%-9%)*0.6/(1 - 0.6)*(1 - 35%)

Cost of equity = 0.12 + 0.018/0.4*0.65

Cost of equity = 0.12 + 0.02925

Cost of equity = 0.14925

Cost of equity = 14.925%

So, Alabaster's cost of equity will be 14.925%.

4 0
2 years ago
For the population of firms in the chemical industry, let rd denote annual expenditures on research and development, and let sal
Dmitry_Shevchenko [17]

Answer:

See the attached pictures for detailed answer.

Explanation:

See the attached pictures for explanation.

6 0
3 years ago
Which of the following is the market structure of the media industry?
Kobotan [32]
Monopoly would be the right answer
3 0
3 years ago
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