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Elza [17]
3 years ago
13

31) Owen expects to receive $30,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 8.2%

, how much money can he borrow from the bank on the basis of this information? A) $2460 B) $13,863 C) $27,726 D) $32,460
Business
1 answer:
snow_lady [41]3 years ago
4 0

Answer:

c. $27,726

Explanation:

The money he can borrow using this information is

=30,000 /( 1+8.2%)

=30,000 / (1+0.082)

=30,000 / 1.082

=27726.432

=$27,726

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Consider the production possibilities frontier model for an economy that produces only two goods: barley and cars.
Alex17521 [72]

Answer:

Production Possibilities Frontier

Explanation:

In a theoretical economy, the production possibilities frontier, is the curve that shows the  combination of goods produced (barley and cars) by an economy given a limited resource. Furthermore the more goods (barley) is produced, the less cars are produced. Thus, for every additional barley's produced, there's an opportunity cost of cars.

7 0
3 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
Deitz Corporation is projecting a cash balance of $33,300 in its December 31, 2019, balance sheet. Deitz’s schedule of expected
Kisachek [45]

Answer:

Deitz Corporation

Cash Budget

For the Quarter ended March 31, 2020:

Beginning balance                              $33,300

Cash Collections From Customers   205,350

Sale of Equipment                                   3,330

Total available cash                          $241,980

Cash Payments:

Direct materials               $47,730

Direct labor                        77,700

Manufacturing overhead  38,850

Selling & Administrative   49,950

Purchase of Securities      15,540  $(229,770)

Ending Balance                                   $12,210

Minimum Balance                                27,750

Shortfall                                              $15,540

Explanation:

Deitz Corporation uses this Cash Budget which it has prepared to understand its financial needs for the next quarter.  For example, with the minimum balance of $27,750 most likely based on past experience the corporation will start making arrangements for some outside funds to the tune of $15,540 or more to meet its cash needs for the first quarter.

7 0
3 years ago
The Golden Rule means to treat others the way you want to be treated. This should prevent you from being rude, ugly, mean, disho
olganol [36]

Answer:

True

Explanation:

You should always treat others the way you want to be treated.  If you were the one who could be treated badly, would your actions be different?

7 0
3 years ago
Read 2 more answers
The December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected. This
Blizzard [7]

Answer:

There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.

Explanation:

The allowance account is the account used to record receivables due that may not be collectible.

When a company has determined that a receivable may be uncollectible, the company credits the allowance for receivables account and debits bad debit expense. This reduces the accounts receivable balance in the balance sheet as the receivables to be reported will be net the allowance given. As such, where on December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected.

There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.

8 0
3 years ago
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