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3 years ago

7

Which of the following statements is true about financial planning?

2 answers:

Studentka2010 [4]3 years ago

8 0

Which of the following statements is true about financial planning?

B) You must always consider the tax consequences of selling your investments.

Answer B is the best choice for the question because you must always considered the tax consequences when selling investments. Investments are always taxed whether it be initially or at the time of sale and that needs to be kept in mind if selling under value especially. You are recommended to check your financial plans often to make sure they are aligning with your goals.

kenny6666 [7]3 years ago

3 0

Answer:

B)You must always consider the tax consequences of selling your investments.

Explanation:

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Consider the following transactions for Huskies Insurance Company:

PilotLPTM [1.2K]

Answer:

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

31-Dec

Dr Interest receivable $1,750

Cr Interest revenue $1,750

31-Dec

Dr Deferred Revenue $4,000

Cr Revenue or Service Revenue $4,000

Explanation:

Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

(Being to adjust 12 month depreciation)

31-Dec

Dr Interest receivable ($50,000 x 7% x 6/12) $1,750

Cr Interest revenue $1,750

(Being to adjust 6 month interest revenue accrued)

31-Dec

Dr Deferred Revenue ($16,000 x 3/12) $4,000

Cr Revenue or Service Revenue $4,000

(Being to record earned revenue for 3 months)

6 0

2 years ago

On January 1, Year 1, Savor Corporation leased equipment to Spree Company. The lease term is 9 years. The first payment of $698,

Lelu [443]

Answer:

The interest revenue will Savor record in Year 1 on this lease at 9% is $347,697

Explanation:

Present value of Lease Payment = $4,561,300

Less: First Payment on Jan 1, 2018 = $698,000

Remaining Balance = $3,863,300

Interest Revenue for Year 1 at 9% = $3,863,300 × 9%

Interest Revenue for Year 1 at 9% = $347,697

8 0

2 years ago

Blue Point Company is formulating its marketing expense budget for the month of September. Sales in units for August amounted to

Anna007 [38]

Answer:

See below

Explanation:

Computation of estimated cash payment expense is seen below

Variable expenses

Sales in unit for August 4,000

Sales in unit September 4,000 × 110% = 4,400

Total variable expense 4,400 × $0.15 = $660

Fixed expense per quarter

Salaries $5,000 × 3 = $15,000

Depreciation $1,500 × 3 = $4,500

Total = $19,500

Budget total = $20,160

Estimated cash payment = $20,160 - $4,500 = $15,660

8 0

2 years ago

Which of the following statements is TRUE? A. By INCREASING the number of payments per year, you BOOST your total cash outflow

dolphi86 [110]

B I’ve seen the question before

6 0

3 years ago

The Jones family has a disposable income of $90,000 annually. Assume that their marginal propensity to consume is 0.8 (the Jones

oksian1 [2.3K]

The Jones Family has an annual consumer spending of $82,000. This is calculated using this formula: C = A +MD where C is the consumer spending, A is the autonomous consumption spending, M is the marginal propensity to consume, and D is the disposable income. Thus, the calculation is C = $10,000 + (0.8)($90,000). Giving C a value of $82,000.

6 0

2 years ago