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sergey [27]
3 years ago
5

A trial balance is prepared to:

Business
1 answer:
Kruka [31]3 years ago
8 0

Answer:

d. discover errors that affect the equality of debits and credits

Explanation:

There are two sections in the trial balance, namely columns of debits and columns of credits. The combined columns of debit and credit will also be matched and equaled.  

The debit sections report the assets and expenditures side while revenues shareholder equity and the liability portion are reported in the credit section.      

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You want to buy a house that costs $140,000. You have $14,000 for a down payment, but your credit is such that mortgage companie
rodikova [14]

Answer:

Kindly check explanation

Explanation:

Given the following :

Cost of house = $140,000

Down payment = $14000

Take back mortgage = 126000 = PV

Rate (r) = 5%

Yearly payment one can afford = 22000

a. If the loan was amortized over 3 years, how large would each annual payment be? Could you afford those payments?

Number of period = 3

Using the relation:

PMT = r(PV) / 1 - (1 + r)^-n

PMT = 0.05(126000) / 1 - 1.05^-3

PMT = 6300 / (1-0.8638375)

PMT = 46,268.23

He won't be able to afford it, as the monthly payment is larger than the affordable amount of $22000

b. If the loan was amortized over 30 years, what would each payment be? Could you afford those payments?

PMT = r(PV) / 1 - (1 + r)^-n

PMT = 0.05(126000) / 1 - 1.05^-30

PMT = 6300 / (1-0.2313774)

PMT = 8196.48

He would be able to afford it, as the monthly payment is lower than the affordable amount of $22000

c. To satisfy the seller, the 30-year mortgage loan would be written as a balloon note, which means that at the end of the third year, you would have to make the regular payment plus the remaining balance on the loan. What would the loan balance be at the end of Year 3, and what would the balloon payment be?

Present value of remaining balance after the 3rd year:

Present Value (PV) = PMT[(1 - (1 + r)^-n) / r]

Where

PMT = periodic payment = 8196.48

r = Interest rate = 5% = 0.05

n = number of periods = 30 - 3 = 27

PV = 8196.48[(1 - (1 + 0.05)^-27) / 0.05]

PV = 8196.48[(1 - (1. 05)^-27) / 0.05]

PV = 8196.48[0.7321516 / 0.05]

PV = 120,021.32

Balloon payment :

120,021.32 + 8196.48 = 128,217.80

4 0
3 years ago
To increase living standards, public policy should a. ensure a greater degree of equality, taking all income-earners into accoun
padilas [110]

Answer:

c. ensure that workers are well educated and have the necessary tools and technology.

Explanation:

Living of standard is the living style of the people . It totally depends upon the necessary amount of money available with a person to meet out not only its basic needs but also have sufficient amount of money to meet out their luxurious needs as well.

Public policy is a policy made by the government to bring its decisions into actions with the help of public.

In order to increase the living standard , public policy should make sure that the workers working under the policy for the government are educated enough and they have proper knowledge about operating the necessary tools , equipments and technology .

5 0
2 years ago
On January 1, 2020, Solugenix issued $400,000 of 7.125 percent Senior Notes due January 1, 2030, at par value. Interest on the n
SVEN [57.7K]

Answer:

$20,000 loss

Explanation:

Repurchase of bond = Repurchase price - Carrying value

Repurchase of bond = ($400,000*105%) - $400,000

Repurchase of bond = $420,000 - $400,000

Repurchase of bond = $20,000 loss

Thus, the loss on the repurchase of the bond is $20,000

6 0
3 years ago
Sardi Inc. is considering whether to continue to make a component or to buy it from an outside supplier. The company uses 14,200
IceJOKER [234]

Answer:

Total cost $24.44

Explanation:

Sardi Inc.

Make

Direct materials$10.00

Direct labor7.00

Variable manufacturing overhead 2.80

Fixed manufacturing overhead (30% × $4.80 is avoidable)1.44

Opportunity cost ($6.40 per unit ÷ 2 minutes per unit) × 1 minutes3.20

Total cost $24.44

Therefore the cost of making the component should be compared to the price of buying the component at $24.44

3 0
3 years ago
How can parties that have unequal bargaining power negotiate meaningfully,
kompoz [17]

Answer:

Through Collaborative bargaining

Explanation:

Parties that have an unequal bargaining power can negotiate meaningfully, without one party taking advantage of the other through the method known as <u>collaborative bargaining</u>. In collaborative bargaining, both the involved parties listen to each other’s claims and issues and then collaborate to come to a consensus. There is transparency in the overall bargaining process and hence there is very less probability that one party is taking advantage of the other party.

5 0
2 years ago
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