Answer:
Explanation:
Except for other fees or interests that you might owe, the<em> payoff </em>should be equal to the debt balance. Then, assuming no other fees or interests that you might owe, you just must calculate the balance of your debt after 112 payments (11 years, not 8).
There is a very important formula to calculate the outsdanging balance of a loan, whithout calculating the complete sheet of all the monthly payments:
![balance=Loan\times \dfrac{[(1+r)^n-(1 + r)^m]}{[(1+r)^n-1]}](https://tex.z-dn.net/?f=balance%3DLoan%5Ctimes%20%5Cdfrac%7B%5B%281%2Br%29%5En-%281%20%2B%20r%29%5Em%5D%7D%7B%5B%281%2Br%29%5En-1%5D%7D)
Where:
- balance is the outstanding balance after m months
- r i s the fixed monthly rate: 10.5%/12 = 0.105/12
- n is the number of total months of the loan: 30years × 12month/year = 360 months
![balance=\$142,000\times \dfrac{[(1+(0.105/12))^{112}-(1 + (0.105/12))^{112}]}{[(1+(0.105/12))^{360}-1]}](https://tex.z-dn.net/?f=balance%3D%5C%24142%2C000%5Ctimes%20%5Cdfrac%7B%5B%281%2B%280.105%2F12%29%29%5E%7B112%7D-%281%20%2B%20%280.105%2F12%29%29%5E%7B112%7D%5D%7D%7B%5B%281%2B%280.105%2F12%29%29%5E%7B360%7D-1%5D%7D)
I would say A because that would kind of be procrastinating and if you need a job why would you waste time volunteering and not getting paid
Answer:
they will increase the expenses (in the income statement) and short term liabilities.
Explanation:
There are two methods that can be used to make payments. On cash basis, you can directly pay the amount, then the assets decrease (cash) and the expenses increases (wages).
If you somehow accrue the amount and pay it on a future date, then it will be regarded as short term liabilities that has to be covered up within 12 months.
Answer:
b. debit to Work in Process of $68,000
Explanation:
The journal entry is as follows:
Work in process A/c Dr $68,000
Factory overhead A/c Dr $6,000
To Raw material A/c $74,000
(Being the requisition from the storeroom is recorded)
Since it is already given that raw material i.e $74,000 requisitioned from the storeroom and the indirect material totaled is $6,000 so the remaining balance transferred to the work in process account i.e $68,000
Under the Ricardo-Barro theory, the government is possible to
increase taxes in the future in order to pay back the money borrowed to finance
a current <span>budget
deficit. In a case where this effect is
absent, the result would be:</span>
<span>
</span><span>A government budget deficit <u>will
increase</u> the demand for loanable funds, <u>increase</u> the real interest rate, and <u>decrease</u> the investment.</span>
