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3 years ago

What effects are Mary and Todd likely to face if they declare bankruptcy? Check all that apply.

Business

2 answers:

ahrayia [7]3 years ago

8 0

1, 4, and 5 just done the assignment and got it correct

Mandarinka [93]3 years ago

8 0

The correct answer is 1, 4, 5.

1. They will find it hard to get new loans.

4. They will have to pay higher interest rates on any new credit cards they obtain.

5. They will have poor credit reports.

Bankruptcy is termed as legal status of a person who is not able to pay creditors their debts. It is imposed by a court order.

Someone can declare bankruptcy if the value of assets he has less the debt amount he is being owed.

Filing for a bankruptcy damages your credit where debts are discharged without being paid.

You might be interested in

Select cost information for Seacrest Enterprises is as follows: 1,000 units of output 5,000 units of output Total Cost/Unit Tota

gayaneshka [121]

Answer:

c. Utilities expense is a mixed cost and rent expense is a fixed cost.

Explanation:

Seacrest Enterprises

1000 units 5000 Units

Total Cost Total Cost /Unit Total Cost Total Cost/Unit

Direct materials $5,000 $5.00 $25,000 $5.00

Utilities expense $1,000 $1.0 0 $3,750 $0.75

Rent expense $4,000 $4.00 $4,000 $0.80

Direct Materials show variable Costs

Utilities expense show mixed costs

Rent Expense show fixed costs

The correct answer is

c. Utilities expense is a mixed cost and rent expense is a fixed cost.

4 0

3 years ago

At the beginning of the year, Carson Company reported total current assets of $658,000 and total assets of $2,450,000. Carson re

ehidna [41]

Answer:

Total Asset Turnover: 2.2857

Explanation:

Total Assets

Begininng Balance 2,450,000

Ending Balance 2,800,000

Period activity 350,000

Sales: 6,000,000

Total Asset Turnover: Sales

Average Total Assets

6,000,000

( 2,450,000 + 2,800,000 ) / 2

6,000,000

2,625,000

2.2857

4 0

3 years ago

1 . Perpetuities Perpetuities are also called annuities with an extended or unlimited life. Based on your understanding of perpe

Dmitrij [34]

Answer:

(A) A perpetuity is a stream of regularly timed, equal cash flows that continues forever

(B) The value of a perpetuity is equal to the sum of the present value of its expected future cash flows

the bank offers 1.6%

in the alternative scenario it offers 1.067%

Explanation:

(A) A perpetuity is a stream of regularly timed, equal cash flows that continues forever

The perpetuity is an annuity in which time tends to infinity, to be qualified as an annuity the cash payment must be regular.

(B) The value of a perpetuity is equal to the sum of the present value of its expected future cash flows

As state above the perpetuinty is an annuity, the annuities return the present value of the expcted future cash flow.

Given the annuity formula

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

if times tends to infinity then the expression:

$\lim_{n \to \infty} (1+r)^{-n} = 1$

Nexti n the annuity formula we got:

$C \times \frac{1-1 }{rate}= PV\\$

So we end up with C / rate = PV

which s the perpetuity formula

800/50000 = 0.016 = 1.6%

800/75000 = 0.0106667 = 1.067%

7 0

3 years ago

5 Make versus buy, activity-based costing. The Svenson Corporation manufactures cellular modems. It manufactures its own cellula

zmey [24]

Answer:

See below

Explanation:

Expected manufacturing costs 2018:

Direct materials $170 × 10,000 = $1,700,000

Direct labor $45 per unit × 10,000 = $450,000

Variable overhead per batch 1,500 × 80 = $120,000

Fixed overhead:

Avoidable $320,000

Not avoidable $800,000

1. Calculate that total expected manufacturing cost per unit of making CMCBs in 2018

= $1,700,000 + $450,000 + $120,000 + $320,000 + $800,000

= $3,390,000

Cost per unit = $3,390,000/10,000 units

= $339 per unit

2. Svenson should keep manufacturing the CMCBs

Costs if CMCBs are purchased from Minton = ($300 × 10,000) + $800,000

= $3,000,000 + $800,000

= $3,800,000

It means that the cost of purchasing is $410,000 [ $3,390,000 - $3,800,000] higher than the cost of manufacturing.

5 0

2 years ago

The name of the Department that is primarily involved in the sourcing, screening and hiring of personnel is:

zloy xaker [14]

Answer:

Explanation:

8 0

2 years ago