Answer:
The correct answer is $7931.44.
Explanation:
According to the given scenario, the given data are as follows:
Payments ( PMT ) = $185 per month
Time period ( N )= 48 months
Interest rate (R ) = 5.65%
So, we can calculate the present value she can borrow by using following formula:
Present value = PMT [ 
]
= $185 [ 
]
= $185 [ 42.872 ]
= $7931.44
Hence, the correct answer is $7931.44
Answer:
Qualifying widow(er); $24,400.
Explanation:
If she has a dependent child and has not remarried until two years after her husband's death, she can file as Qualifying Widow (Widower) with Dependent Child.
Answer:
C. 15,650
Explanation:
Calculation for what The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:
First step is to calculate the Unit transferred out
Unit transferred out = 4,000+14,000-3,000
Unit transferred out = 15,000
Now let calculate Equivalent unit of conversion
Equivalent unit of conversion = (4,000*60%)+11,000+(3,000*75%)
Equivalent unit of conversion =15,650
Therefore the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:15,650
Answer:
$1,600,000
Explanation:
Given the following parameters:
Patent = $8,000,000
Trademark = $6,000,000
Goodwill= $9,000,000
Given that both the trademark and goodwill cannot be amortized as they were impaired or revealed.
Therefore, in this situation, only patents will be amortized over a five-year service life
Hence, the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items is = 8,000,000 divided by 5 = $1,600,000
Answer:
INCORRECT.
In income summary account, all revenue accounts are closed by debiting them and crediting the income summary account. expense accounts are closed by crediting them and debiting income summary account. then on closing income summary account it shows debit balance if there is a net loss and it shows credit balance if there is a net income.
In the given case clever auto services has debit balance of $5,300 i,e it implies that clever auto services has loss .
Therefore above statement is wrong. It implies a loss of $5300 not the net income of $5,300.
