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3 years ago

Most people buy a house with cash. True False

2 answers:

8 0

Most people take out a loan from the bank.
Plus, a house can be very costly, and all that cash would be annoying to carry.

False.

Mnenie [13.5K]3 years ago

6 0

The answer would be False

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Assume you have a brand new baby today. You plan to make 18 $1,000 annual deposits in her college savings account, starting on h

aleksley [76]

Answer:

After her 18th birthday the balance will be $41,301

Explanation:

Balance right after the 18th birthday is calculated using the formula for future value of annuity

FV = $PMT \times \frac{(1+i)^{n}-1}{i}$

Annual payment PMT = 1,000

Interest rate i = 0.09

Deposits are made for 18 years: n = 18

The balance in her account will then be:

FV = 1,000 * ( 1.09^18 - 1 ) / 0.09

= $41,301

7 0

3 years ago

8. The TS Company has budgeted sales for the year as follows: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales in units 10,000 12,0

Finger [1]

Answer:

Results are below.

Explanation:

First, we need to determine the production budget using the following formula:

Production= sales + desired ending inventory - beginning inventory

Quarter 1:

Production= 10,000 + (0.25*12,000) - 2,500

Production= 10,500

Quarter 2:

Production= 12,000 + (0.25*14,000) - 3,000

Production= 12,500

Quarter 3:

Production= 14,000 + (0.25*16,000) - 3,500

Production= 14,500

Quarter 4:

Production= 16,000 - 4,000

Production= 12,000

Now, the direct material purchase budget:

Purchases= production + desired ending inventory - beginning inventory

Quarter 1:

Purchase= 10,500*4 + (12,500*0.1) - 4,200

Purchase= 39,050 pounds

Quarter 2:

Purchase= 12,500*4 + (14,500*0.1) - 1,250

Purchase= 50,200 pounds

Quarter 3:

Purchase= 14,500*4 + (12,000*0.1) - 1,450

Purchase= 57,750 pounds

Quarter 4:

Purchase= 12,000*4 - 1,200

Purchase= 46,800 pounds

3 0

3 years ago

Ashton Company uses the perpetual method. The company's inventory account had a $6,600 balance as of December 31, Year 1. A phys

Lunna [17]

Answer:

Decrease Profit and Inventory Asset value as well.

Explanation:

This will Decrease the closing inventory value which will increase the cost of goods, decrease the profit and ultimately decrease the retained earning value in the balance sheet. It also decrease the Inventory value in the current assets section of balance sheet, which will ultimately decrease the total asset value.

7 0

3 years ago

Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $ 900,000. Expected (and actual) cos

weqwewe [10]

Answer:

Key figures:

2016:

Revenue = $270,000

Expenses = $202,500

Income = $67,500

2017:

Revenue = $450,000

Expenses = $337,500

Income = $112,500

2018:

Revenue = $180,000

Expenses = $135,000

Income = $45,000

Explanation:

Under this method, percentage of work completed is determined using the following formula:

Percentage of work completed = (Total Expenses incurred on the project till the close of the accounting period) ÷ (Total Estimated Cost of the Contract)

Total estimated cost = $202,500 + $337,500 + $135,000 = $675,000

2016:

Percentage of work completed = ($202,500 ÷ $675,000)×100 = 30%

Expenses in 2016 = $202,500 (answer)

Revenue in 2016 = $900,000 × 30% = $270,000 (answer)

Income in 2016 = Revenue - Expenses

Income in 2016 = $270,000 - $202,500

Income in 2016 = $67,500 (answer)

2017:

Percentage of work completed = ($337,500 ÷ $675,000)×100 = 50%

Expenses in 2017 = $337,500 (answer)

Revenue in 2017 = $900,000 × 50% = $450,000 (answer)

Income in 2017 = Revenue - Expenses

Income in 2017 = $450,000 - $337,500

Income in 2017 = $112,500 (answer)

2018:

Percentage of work completed = ($135,000 ÷ $675,000)×100 = 20%

Expenses in 2018 = $135,000 (answer)

Revenue in 2018 = $900,000 × 20% = $180,000 (answer)

Income in 2018 = Revenue - Expenses

Income in 2018 = $180,000 - $135,000

Income in 2018 = $45,000 (answer)

4 0

3 years ago

The entry to record the receipt of payment within the discount period on a sale of $2,500 with terms of 2/10, n/30 will include

Korolek [52]

The entry to record the receipt of payment is $2,590 in accounts receivable.

What is Trade discount?

Trade discounts, also known as functional discounts, are payments made to distribution channel participants in exchange for completing a task. Storage and shelf stocking are two examples of these tasks. Trade discounts are sometimes bundled to cover a variety of services. For instance, 20/12/5 may stand for 20% off for storing the merchandise, 12% more off for shipping, and 5% more off for keeping the shelves filled.

Terms 2/10, n/30 state that payments must be made within 10 days of the date of purchase to receive a 2% discount, and payments must be made in full within 30 days to avoid a discount.

To learn more about Trade discount click the given link

brainly.com/question/3967119

#SPJ4

3 0

1 year ago