Any establishment formed to carry on commercial enterprises is a

What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)?

alexgriva [62]

The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.

4 0

3 years ago

You found your dream vacation cottage in the mountains and your offer of $78,000 was accepted. You plan to put 20% down and will

zepelin [54]

Answer:

financing 62,400 dollars

Monthly Payment $ 465.48

Total Interest 21,386.4

Rounding to nearest $ 100

Additional $$ 34.52

We save up to 16 payments and $2,136.4 in interest.

By-weekly payment $232.60

Total Interest saved $ 194.4

Explanation:

78,000 less 20% down-payment: 62,400

Monthly Payment

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $62,400.00

time 180

rate 0.0034375

$62400 \div \frac{1-(1+0.0034375)^{-180} }{0.0034375} = C\\$

C $ 465.484

Total Interest

quota times time less principal

$ 465.48 x 180 - 62,400 = 21,386.4

$ 500 - $ 465.48 = $ 34.52

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C $500.00

time n

rate 0.0034375

PV $62,400.0000

$500 \times \frac{1-(1+0.0034375)^{-n} }{0.0034375} = 62400\\$

$(1+0.0034375)^{-n}= 1-\frac{62400\times0.0034375}{500}$

$(1+0.0034375)^{-n}= 0.571$

We now use logaritmics properties to solve for n

$-n= \frac{log0.571}{log(1+0.0034375)$

-163.2956066

180 - 164 = 16 payments

Total Interst 500 x 163.30 - 62,400 = 19,250

Interest savings 21,386.4 - 19,250 = 2,136.4

If payment are bi-weekly:

then payments will be:

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $62,400.00

time 360

rate 0.00171875

$62400 \div \frac{1-(1+0.00171875)^{-360} }{0.00171875} = C\\$

C $ 232.598

And total Interest:

232.2 x 360 - 62,400 = 21,192

Difference 21,386.4 - 21,192 = $ 194.4

6 0

3 years ago

Leigh has three children but has not written her will which danger will she more than likely face if she dies without a will?

labwork [276]

Her children will not inherit any of her assets

4 0

2 years ago

Solaris, Inc. has 2000 shares of 5%, $10 par value, cumulative preferred stock and 50000 shares of $1 par value common stock out

lubasha [3.4K]

The annual dividend on the preferred stock is $1000 in total.

<h3><u>What is an Annual dividend?</u></h3>

An annual dividend is a payment made by an insurance firm to its policyholders each year in the insurance sector. Annual dividends are most frequently given out in combination with plans that provide long-term disability insurance and permanent life insurance.
A payment made annually to an insurance policyholder, frequently under a long-term disability or permanent life insurance policy, is known as an annual dividend.
The insurance company's income, the success of investments, and the amount of money invested all affect the dividend amount.

Annual profits may be paid as cash, used to pay for further insurance, or added to premiums to lower future total payments.

The company has 2000 shares of 5% that is: (2000*5)/100 = 100

with a par value of $10, which becomes:

100*$10 = $1000.

Know more about Annual Dividend with the help of the given link:

brainly.com/question/15871366

#SPJ4

3 0

1 year ago

Of those listed below, the best example of a pure public good is a. a public school b. a radio broadcast c. a hardcover copy of

Rufina [12.5K]

Answer:

b. a radio broadcast

Explanation:

The pure public good is a good which is non-rivalrous and non-excludable. Non-rivalrous represents that the goods does not diminshed in the case when more people consumed it while on the other hand, the non-excludable represents that the goods are available to all

Therefore as per the given options, the option b is correct

hence, the other options are incorrect

7 0

2 years ago