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Slav-nsk [51]
3 years ago
10

Emery Corporation Balance Sheet Income Statement​Assets:Cash ​$250,000​Sales​ (all credit) ​ $8,000,000Accounts receivable ​450,

000Cost of goods sold ​(4,000,000)Inventory ​500,000Operating expense ​(2,900,000)Net fixed assets ​2,100,000Interest expense ​(150,000)Total assets ​$3,300,000Income taxes ​(380,000)Net income ​$570,000Liabilities and​ owners' equity:Accounts payable ​$100,000​Notes payable    ​450,000Longminus−term debt1,050,000​Owners' Equity ​1,700,000Total liabilities and​ owner's equity ​$3,300,000Based on the information in Table the debt ratio is:________.A. ​40.24%.B. ​48.48%.C. ​53.43%.D. ​18.38%.
Business
1 answer:
san4es73 [151]3 years ago
4 0

Answer: B. ​48.48%

Explanation:

Debt ratio = Total Liabilities/ Total Assets

Total liabilities = Accounts payable ​+ ​Notes payable + Long−term debt

= 100,000 + 450,000 + 1,050,000

= $1,600,000

Total Assets = $3,300,000

Debt ratio = 1,600,000/3,300,000

= 48.48%

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nata0808 [166]

Bob and mary are financing $180,500 for a new home. their lender will approve an interest rate of 5% if bob and mary pay two discount points at closing. Cost them is $3,610.

A discount point is 1% of the loan amount. Bob and Mary are paying two points (or 2% of $180,500), which is $3,610.

What is discount points?

  • Discount points are a shape of paid ahead of time intrigued that contract borrowers can buy to lower the intrigued rate on their consequent month to month payments.
  • Discount points are a one-time expense, paid up front either when a contract is to begin with orchestrated or amid a refinance.
  • Each markdown point for the most part costs 1% of the overall credit and brings down the loan’s intrigued rate by one-eighth to one-quarter of a percent.
  • Points don’t continuously got to be paid out of the buyer’s stash; they can some of the time be rolled into the advance adjust or paid by the vender.

To know more about discount points visit:

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4 0
1 year ago
What results when work seeps into non-work time?
tankabanditka [31]

burnouts im guessing

7 0
2 years ago
A corporation sold 1,000 shares of its $2.00 par value common stock for $10.00 per share and later repurchased 100 of those shar
boyakko [2]

Answer:

Option B. Treasury Stock for $1,200

Explanation:

The reason is that when 1,000 shares which has $2 par value and were issued at $10 per share, the journal entry was:

Dr Cash Account $10,000

Cr       Common Stock $2,000

Cr       Paid In Capital   $8,000

But when 100 shares were repurchased at $12 per share, then the accounting treatment would be

Dr Treasury Stock $1,200

Cr         Cash Account $1,200

So the correct option is option B.

5 0
3 years ago
It costs Sheridan Company $28 of variable costs and $17 of allocated fixed costs to produce an industrial trash can that sells f
Mashutka [201]

Answer:

Option (C) is correct.

Explanation:

Variable costs = $28

Allocated fixed costs = $17

Selling price = $84

Due to acceptance of M offer, S would be got excess contribution margin per unit. Because acceptance selling price ($34) is greater than the variable cost per unit ($28).

We don't have any information about the fixed cost due to acceptance. Therefore, we assumed that fixed cost is not increased.

Increased contribution margin per unit:

= Selling price - Variable cost

= $34 - $28

= $6

For 3,000 units, Increased contribution margin = 3,000 × $6

                                                                               = $18,000

Therefore, net income is increased by $18,000 when the offer is accepted.

6 0
3 years ago
Concord Corporation has several outdated computers that cost a total of $18000 and could be sold as scrap for $6000. They could
DanielleElmas [232]

Answer:

$18,000

Explanation:

Sunk costs refers to a cost that has been expended and cannot be recovered or recouped.

With regards to the above, $18,000 was expended concord by corporations to purchase computers hence cannot be recovered. Therefore, it is a sunk cost.

8 0
3 years ago
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