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allochka39001 [22]
3 years ago
9

Christian and Monica are married and are both in good health with reasonably secure careers. Christian and Monica have annual in

comes of $60,000 each. The family debts are a home mortgage of $120,000, car loans of $10,000, personal debts of $14,000, and credit card loans of $7,500. The estimated funeral cost is $6,000. Under the DINK Method, what is the amount of total insurance that Christian would need?
Business
1 answer:
scZoUnD [109]3 years ago
5 0

Answer:

$81,750

Explanation:

The computation of the amount of total insurance is shown below:

= (Home mortgage loan + car loans + personal debts + credit card loans) ÷ 2  + estimated funeral cost

= ($120,000 + $10,000 + $14,000 + $7,500) ÷ 2 + $6,000

= $75,750 + $6,000

= $81,750

Under the DINK method, we simply half of the items except funeral cost

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On January 1, 2017, Whitefeather Industries issued 300, $1,000 face value bonds. The bonds have a five-year life and pay interes
Ludmilka [50]

Answer:

$15000

Explanation:

All types of bonds have some common characteristics which include;

- A face/par value

- A coupon rate (interest rate).

- Either redeemable/irredeemable or convertible.

The face value of one bond is $1000 so the total value of 300 bonds would be $300,000 (300×$1000). In this example these are redeemable bonds which means Whitefeather Industries would be liable to payback the capital amount of bonds after five years (maturity date).

The coupon rate (i.e interest) is charged on Par value. So the Interest can be calculated as $300,000×10% = $30,000 per year.

In this question interest is payable semi-annually, therefore The amount of interest that occurs on December 31, 2017 is $15000 (For the last six months - July 1st till Dec 31st; $30000×6÷12).

4 0
3 years ago
Which of the following best describes the role of analytical procedures near the end of the audit engagement? to gather evidence
snow_lady [41]
The answer is,

<span>To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement

This choice will provide enough evidence as a financial information. The overall finance would give ll the needed dates of transactions.
</span>
5 0
3 years ago
Sustainable development refers to A. placing restraints on a company's growth until all ancillary support services are in place
Semmy [17]

Answer:

The correct answer is letter "C": conducting business in a way that protects the natural environment while making economic progress.

Explanation:

Sustainable development is the capacity an institution has to satisfy individuals' needs without damaging the environment neither harming the atmosphere. To reach this stage there must be an equilibrium between the <em>economy, society, </em>and <em>the environment.</em> Sustainable development is difficult to be obtained with high poverty rates, habitats destruction, or indiscriminately resources exploitation.

4 0
3 years ago
May 3 Allied made its first and only purchase of inventory for the period on May 3 for 3,000 units at a price of $9 cash per uni
Airida [17]

Answer:

Explanation:

May 3

Dr merchandise inventory 27,000

   Cr Cash 27,000

May 5

Dr Accounts receivable 19,500

    Cr Sales 19,500

May 5

Dr COGS 13,500

     Cr Merchandise inventory 13,500

May 7

Dr Sales returns and allowances 1,950

     Cr Accounts receivable 1950

Dr Merchandise inventory 1350

     Cr COGS 1350

May 8

Dr Sales returns and allowances 750

     Cr Accounts receivable 750

May 15

Dr Cash 16464

Dr Sales discount 336

    Cr Account receivable 16800

19500-1950-750 = 16800

16800*2% = 336

7 0
3 years ago
North Company has completed all of its operating budgets. The sales budget for the year shows 50,220 units and total sales of $2
Oduvanchick [21]

Answer:

A budgered income statement was prepared for North company for the year ending December 31st 2020.

Explanation:

Solution

                              The NORTH COMPANY

                              Budgeted Income Statement

                           For the year December 31st, 2020 Ended

Particulars                                                          Amount

Sales                                                                 $2,414,100

Less: Cost of goods sold

[50,220 Units x $23.00 per unit]                    -11,55,060

The Gross Profit                                                 12,59,040

Less: Selling and administrative expenses     -3,09,700

Earnings before interest and taxes                  9,49,340

Less: Interest Expenses                                   -10,260

The earnings before taxes                                 9,39,080

Less: Income Taxes                                           -2,26,200

The Net Income                                                  7,12,880

The net income for the NORTH COMPANY for the year ended December 31st 2020 is $7,12,880

6 0
3 years ago
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