2 years ago

The following items were among those reported on Lee Co.'s Income Statement for the year ended December 31, 20x5:

Business

1 answer:

coldgirl [10]2 years ago

4 0

Answer:

C. $410,000

Explanation:

Administrative and general expenses in Lee's multiple - step income statement is $410,000

i.e the Legal and audit fees $170,000 and Rent for office space $240,000 which will amount to $410,000

Note: General and Administrative expenses are incurred in the day-to-day operations of a business and are not tied to a specific function or department within the organisation.

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: Typically required on ________ loans when the down payment is less than ______% and loan-to-value ratio is in excess of ____%.

BARSIC [14]

Answer:

Mortgage, 20%, 80%

Explanation:

Typically required on Mortgage loans when the down payment is less than 20% and loan-to-value ratio is in excess of 80%. Loans with higher LTVs don't conform to Fannie Mae/Freddie Mac guidelines, so a lender may require PMI to offset the risk.

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3 years ago

Sage Company had cash receipts from customers in 2020 of $137,920. Cash payments for operating expenses were $84,990. Sage has d

Triss [41]

Answer:

sales revenue for the period: $ 143,900

operating expenses: $ 78,000

Explanation:

We solve for sales using the account recievable identity:

beginning account receivable + sales - collection = ending account receivable

12,330 + sales - 137,920 = 18,310

sales = 137,920 + 18,310 - 12,330 = 143,900

Then, for operating expenses, we have a prepaid expenses thus unexpired and therefore, not expenses under accrued accounting.

we solve like this:

beginning prepaid expenses 19,800

payment on expenses 84,990

total expenses payment 104,790

We now subtract the prepaid (unexpired) to get the amount accrued for the period:

104,790 - 26,790 = 78,000

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2 years ago

Consider the following information: Rate of Return If State Occurs State of Probability of Economy State of Economy Stock A Stoc

kicyunya [14]

Answer:

a) The expected return of equally weighed portfolio is 14.23%

b) The expected return of equally weighed portfolio is 16.45%, hence Variance = 1.596457%

Explanation:

See workings of a and b attached in a form of spreadsheet.

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3 years ago

Anthony is contemplating selling the bonds he holds prior to their date of maturity. Which of the following may result in Anthon

kipiarov [429]

His employing i dont know just guess and hope you get it right

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3 years ago

Which of the following is not a personality trait?

jekas [21]

Word processing is not a personility trait

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3 years ago