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3 years ago

Define finance charge

Business

2 answers:

nydimaria [60]3 years ago

8 0

Answer:

finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees.

Explanation:

Setler [38]3 years ago

7 0

Answer:

A finance charge is the cost of borrowing money, including interest and other fees. It can be any fee representing the cost of credit, or the cost of borrowing.

Explanation:

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Kansas Enterprises purchased equipment for $73,500 on January 1, 2018. The equipment is expected to have a five-year life, with

arsen [322]

Answer:

Using the straight-line method, the book value at December 31, 2018 would be $53.760

Explanation:

2018 2019 2020 2021 2022

Cost 67200 53.760 40.320 26.880 13.440

Dep-Acu 13.440 13.440 13.440 13.440 13.440

Book Value53.760 40.320 26.880 13.440 0

3 0

3 years ago

After graduating from college, Yunis, age 22, started working for his parent's real estate business as an unpaid assistant. He w

True [87]

Answer:

Part of the labor force and employed

Explanation:

After graduating from college, Yunis, age 22, started working for his parent's real estate business as an unpaid assistant. He works 25 hours a week helping manage rental units . In the Current Population Survey, Yunis is considered part of the labor force and employed. Although Yunis is not getting anything in return and he is working 25 hours a week but he still will be considered as the part of the labor force and employed because he is working in his own business and the money generated with his services will be coming to his own family, therefore, he will be considered as an employed man.

3 0

3 years ago

The market value of the equity of Hudgins, Inc., is $645,000. The balance sheet shows $53,000 in cash and $215,000 in debt, whil

allsm [11]

Answer:

It is 3.25 times

Explanation:

EBITDA Multiple = Enterprise Value/ EBITDA

Where EBITDA = EBIT+Depreciation & Amortization

= $91,000+$157,000

=$248,000

Enterprise Value (EV) = Market value of the equity +Debt-Cash and Cash Equivalent

EV= $645,000+$215,000-$53,000

=$807,000

Hence, EBITDA Multiple = $807,000/$248,000

=3.25 times

EBITDA Multiple is used to compares a company’s Enterprise Value to its annual EBITDA.

8 0

3 years ago

Read 2 more answers

Wildhorse Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be d

9966 [12]

Answer:

depreciation expense 2021 = $6,200

depreciation expense 2022 = $6,700

Explanation:

depreciable value = $29,000 - $200 = $28,800

depreciation expense per mile driven = $28,800 / 144,000 = $0.20

number of miles driven during 2021 = 31,000

depreciation expense 2021 = 31,000 x $0.20 = $6,200

number of miles driven during 2020 = 33,500

depreciation expense 2022 = 33,500 x $0.20 = $6,700

8 0

2 years ago

1. Define business. Explain the functions of business.

kotegsom [21]

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↦ Business is an economic activity that is directed towards acquiring and earning profit and wealth through customer's satisfaction. It plays an important role for the economic development of the country and uplift living standard of the people. Some of the functions of business are described below :

Creation of utilities : For the fulfillment of needs of customers , business creates various types of utilities. A business has many components and each component is involved in the creation of the certain utility. For instance : manufacturers create from utility , transportation system created place utility , warehousing time utility and insurance companies risk utility.

Generation of employment : Business is a source of employment. Various types of employees are required to a business. In industries , both skilled and unskilled manpower are required for production , distribution and auxiliaries functions. Hence , the development of industry and commerce helps to solve the unemployment problem of a nation.

Earning Foreign Currency : Business is the main source of earning Foreign Currency. Foreign currency can be earned by exporting surplus products and services to foreign countries. The development of export trade brings favourable balance in payment.

Provides investment opportunities : Business provides investment opportunities to the investors in production and distribution activities. Depending on the nature of investment ; investors receive dividend , interest or other financial benefits. The persons of organizations having sufficient capital can invest their money in production and commercial activities according to their interest , capability and knowledge.

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3 years ago