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Lelechka [254]
3 years ago
5

As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He c

hose the Franklin Utilities Fund. If he invests $30,000 and the fund charges a load of 4.25 percent when shares are purchased, what is the amount of commission (load) Bart must pay?
Business
1 answer:
Serga [27]3 years ago
8 0

Answer:

$1,275

Explanation:

The computation of the amount of commission for paying is shown below:

= Invested amount × fund charges a load percentage

= $30,000 × 4.25%

= $1,275

By multiplying the invested amount with the fund charges a load percentage we can easily calculate the amount of commission and the same is to be considered

You might be interested in
On April 30, 2017, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, w
Dmitriy789 [7]

Answer:

$6,666.67 and $10,000

Explanation:

The computation of the depreciation expense for the year 2017 and 2018 is shown below:

= (Original cost - residual value) ÷ (useful life)  

= ($88,000 - $8,000) ÷ (8 years)  

= ($80,000) ÷ (8 years)  

= $10,000

Since the machinery is purchased on April 30 and we assume the books are closed on December 31 so the number of months calculated is 8 months

Therefore for the year 2017 the depreciation expense is

= $10,000 × 8 months ÷ 12 months

= $6,666.67

And, for the year 2018 the depreciation expense is same i.e $10,000

6 0
3 years ago
You want to invest in a project in Canada. The project has an initial cost of C$828,000 and is expected to produce cash inflows
tamaranim1 [39]

Answer:

C$24,650

Explanation:

initial cost C$828,000

net cash flows for years 1, 2 and 3 C$355,000

discount rate 12%

the net present value in C$ = C$355,000/1.12 + C$355,000/1.12² + C$355,000/1.12³ - C$828,000 = C$316,964 + C$283,004 + C$252,682 -  C$828,000 = C$24,650

Since we are asked to determine the NPV in Canadian dollars, all we need to do is carry out the same calculations as if they were any other currency. We do not need to make any adjustments due to the exchange rate between US dollars and Canadian dollars.

8 0
3 years ago
Jack is buying the Padillas' home. He makes his offer and in his terms states, he wants all the window treatments, refrigerator,
gogolik [260]

Answer:

c) Counteroffer

Explanation:

A counteroffer determines this when an offer is being created for the purpose of the earlier offer by another person during the negotiation for creating the ending contract. To make the counteroffer is to reject the previous offer and is created under the terms of the counteroffer or there will be no contract.

Here according to the given scenario, Jack makes the offer in the condition that he needs only microwave, refrigerator, and window treatment and this will be a sale part. Now, Padilla who is selling the home is accepting the terms of Jack with the condition that the refrigerator will remain in the home. So, this case is called the counter offer.

5 0
3 years ago
A list of Year 3 revenues and expenses for Green Thumb, Inc. is provided below. Advertising and Promotion Expenses 262,700 Incom
iren2701 [21]

Answer:

A. Net Income = $304,560

B. Ending Retained Earnings = $420,740

Explanation:

Req. (A)

Green Thumb, Inc.

Income Statement

For the year ended, 31 December, 20Y3

Revenues:

Sales Revenues $1,866,300

Expenses:

Salaries and wages expenses $725,000

Advertising and Promotion Expenses 262,700

Income Tax Expense 56,520

Interest Expense 43,920

Other Expenses 122,600

Other Selling & Administrative Expenses 351,000

Total Expenses = ($1,561,740)

Net Income = $304,560

Note: We can use a multiple step income statement. However, as there is no instruction, we use single step income statement.

Req. (B)

Green Thumb, Inc.

Statement of Retained Earnings

For the year ended, 31 December, 20Y3

Balances, January 1 $162,200

Add:

Net income for the current year $304,560

Less: Dividends ($46,020)

Balances, December 31 $420,740

Note: Here, Balances, January 1 = Beginning Retained earnings Balance

Balances, 31 December = Ending retained earnings.

3 0
3 years ago
Alex manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday,
statuscvo [17]

Answer: b. shoe-leather costs

Explanation:

This is the shoe-leather cost inflation. It refers to the time and effort expended by people to ensure that they are able to avoid their cash losing too much value to inflation. Includes for instance, going to the bank multiple times because you are holding little cash on hand so it does not lose value.

It is named shoe-leather costs as a play on words because it is assumed that the time and effort put will result in walking around alot and degrading the quality of your shoes.

3 0
3 years ago
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