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Anuta_ua [19.1K]
3 years ago
14

Teresa rents her apartment for ​$860 per​ month, utilities not included. When she moved​ in, she paid a ​$700 security deposit u

sing money from her savings account that was paying 3​% interest. Her​ renter's insurance costs her ​$84 per year. What are​ Teresa's total annual costs of​ renting?
Business
2 answers:
Nadusha1986 [10]3 years ago
8 0

Answer:

$10,425

Explanation:

Teresa's annual cost of renting:

  • rent x 12 months = $860 x 12 = $10,320
  • annual renter's insurance = $84
  • <u>implicit costs = lost interests = $700 x 3% = $21</u>

          total $10,425

The $700 she left as security deposit should be returned to her at the end of the lease contract, so only the interest lost is considered a cost.

Sonja [21]3 years ago
7 0

Answer:

$11,125

Explanation:

The total annual cost of renting is the total amount the tenant spends to be able to rent the apartment which includes the annual rent, the security deposit, the interest lost on the money used for the security deposit and the insurance cost.

Annual cost of renting= ($860*12)+$700+($700*3%)+$84

Annual cost of renting= $10,320+$700+$21+$84

Annual cost of renting= $11,125

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Answer:

Net Income for the year is $174,000

Explanation:

Net Income Calculation for the year is done below:

<u>Particulars</u>                                                            <u>$</u>

Revenues (290,000 + 50,000)                      340,000

Less: Rent (30,000 / 2)                                    (15,000)

Less: Salaries                                                   (110,000)

Less: Utilities (40,000 + 1,000)                        (41,000)

Net Income                                                        174,000

Please note the following with regard to the calculation done above:

  • Revenue includes both the cash collected from customers and cash owed by the customers, which received later on at the end of the year.
  • Rent has been divided by two, this is due to the fact that calculation of  net income is done for the current period so only one year rent is taken.
  • Utilities include cash paid for utilities and the amount company owed to gas & electric company.
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3 years ago
Which of the following is responsible for depth of field?
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Answer:

OI, You didn't state the answers!

Explanation:

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3 years ago
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The supervisors of the production division of one of the branches of Georgia Mills have been informed of some irregularities not
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Answer:

C) problem-solving

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Problem-solving team -

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4 years ago
Listed below are several document terms. Match each term with the corresponding statement in the list provided. Some terms may b
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Answer:

1. The raw materials record

is a control for the materials stored in the storeroom. In order to get direct​ materials, a(n) materials requisition

must be presented.

2. Before production​ begins, the​ manufacturer's purchasing department issues purchase orders

to its supplier for needed direct materials.

3. A(n) receiving report

is typically a duplicate of the purchase order but without the quantity​ pre-listed on the form.

4. The bill of materials

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5. A(n) job cost record

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Explanation:

1. The raw materials record

is a control for the materials stored in the storeroom. In order to get direct​ materials, a(n) materials requisition

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2. Before production​ begins, the​ manufacturer's purchasing department issues purchase orders

to its supplier for needed direct materials.

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is typically a duplicate of the purchase order but without the quantity​ pre-listed on the form.

4. The bill of materials

is like a list of ingredients in a​ recipe, stating the materials needed to produce a product.

5. A(n) job cost record

is used to accumulate all of the costs affiliated with each job.

6. All direct laborers in the factory fill out​ a(n)

labor time record.

7. The accounting department will not pay​ a(n)

invoice unless it agrees with the quantity of parts both ordered and received.

8. Each item in the raw materials storeroom has its own raw materials record.

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Cage company had income of $350 million and average invested assets of $2,000 million. its return on assets (roa) is

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Given that the net income is $350 million, average asset is $2000

The answer is 0.0005
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