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3 years ago

Credit card refinancing vs debt consolidation

Business

2 answers:

Andrews [41]3 years ago

8 0

Answer:

Explanation:

Credit card refinancing involves moving the balance from one credit card on to another credit card with a lower interest rate to save money. Debt consolidation focuses on combining several sources of debt into one account with a single monthly payment. While both can save money on interest, debt consolidation is more about reducing the number of accounts into a single personal loan.

andre [41]3 years ago

8 0

Credit card refinancing is choosing the best credit card with the lowest rate possible. On the other hand, debt consolidation can involve multiple credit cards or loans.

When you consolidate, you are combining multiple payments into 1 simple monthly payment.

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Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of $10,000,000 and cost of

Elden [556K]

Answer:

$10,140,000

Explanation:

To make consolidated statements company needs to consolidate the financial data of its own and its subsidiary.

Revenue can be consolidated of parent and subsidiary as follow:

First

Add revenue of both companies

Total Sales = Patti Company sales + Shannon Inc. sales

Total Sales = $10,000,000 + $200,000 = $10,200,000

Now deduct the sale made to each other because sales mad within the group is not recorded for consolidation purposes and it is not a sale for a group it is an internal group transfer.

Consolidated Sales = Total sales - Internal Sales

Consolidated Sales = $10,200,000 - $60,000 = $10,140,000

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3 years ago

Last year, you purchased a stock at a price of $78.00 a share. Over the course of the year, you received $2.70 per share in divi

lutik1710 [3]

Answer:

5.65%

Explanation:

Last year a stock of $78.00 was bought

During the period of one year $2.70 was received in dividend and inflation averaged 3.2%

Today the shares was sold for $82.20

The first step is to calculate the nominal return

= ($82.20-$78.00+$2.70)/$78.00

= 6.9/78

= 0.0885×100

= 8.85%

Therefore, the approximate real rate can be calculated as follows

= 8.85%-3.2%

= 5.65%

Hence the approximate real rate of return on this investment is 5.65%

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2 years ago

A client who has been training at high intensities in preparation for a triathlon reports joint pain, excess fatigue, and the in

Evgen [1.6K]

Answer:

The client is in the exhaustion stage of the general adaptation syndrome.

Explanation:

The 3 stages of the General Adaptation Syndrome are Alarm reaction, Resistance and Exhaustion.

The characteristic properties of each of the stage are different: For example

The person experiences, either higher rate of stress or adrenaline rush through the body in the 1st stage.
The person experiences frustration and anxiety in the second stage which is the Resistance stage.
While there is excessive fatigue in the 3rd stage which is exhaustion.

As the client is showing the symptoms of fatigue, thus this is the 3rd stage, i.e. exhaustion stage of GAS.

3 0

3 years ago

Henry Company traded in an old delivery truck for a new one. The old truck had a cost of $78,000 and accumulated depreciation of

babymother [125]

Answer:

The new truck will enter the account with the invoice value.

new truck 122,000

ac dep old truck 44,000

loss on trade 22,000

Cash 110,000

Old Truck 78,000

Explanation:

Old truck 78,000

acc depreciation 44,000

net-book value 34,000

trade-in allowance 12,000

loss on trade 22,000

The new truck will enter the account with the invoice value.

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2 years ago

Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co

ICE Princess25 [194]

Answer:

Ending inventory is $24,917.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

For Cameras:

Units = 113

Cost per unit = $61

net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

For Blu-ray players:

Units = 153

Cost per unit = $77

net realizable value per unit = $50

We choose net realizable value per unit since it is lower and we have:

Blu-ray players ending inventory = 153 * $50 = $7,650

For iPods:

Units = 133

Cost per unit = $86

net realizable value per unit = $78

We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

Calculation of ending inventory:

Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

8 0

2 years ago