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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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Quentin's total debt to equity ratio on December 31, 2014, is <u>0.62</u>.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached file for the complete question.

The explnation to the answer is therefore given as follows:

The debt-to-equity ratio refers to a financial ratio that is used to measure the relative proportion of debt and Owners' equity that are employed to finance assets of a company.

The debt-to-equity ratio using the following formula:

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On October 1, 2022, Ivanhoe Company places a new asset into service. The cost of the asset is $87500 with an estimated 5-year li
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$3150

Explanation:

Given:

Cost of the asset purchased = $87500 (on 1st October. 2022)

Salvage value at the end of its useful life = $24500

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What is the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation?

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<u>As we know:</u>

Straight-Line\ Depreciation\ Expense=\frac{Cost\ - Salvage\ Value}{Useful\ Life\ of\ the\ Asset}

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From 1st October, 2022 to 31st December, 2022 = 3 months.

<em><u>Straight-Line Depreciation Expense for Partial Year = </u></em>

<em><u /></em>D\times\frac{N}{12} \\\\ D=Depreciation\ expense\ for\ a\ complete\ year.\\N= Number\ of\ months\ during\ which\ the\ fixed\ asset\ was\ available\ for\ use

Depreciation Expense for 3 months = 12600\times\frac{3}{12} =\frac{37800}{12} =3150

Therefore, the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation is $3150.

                                                             

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