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3 years ago

The debt payments-to-income ratio is:

1 answer:

5 0

Answer: The debt payments-to-income ratio is: calculated by dividing monthly debt payments (excluding mortgage payments) by net monthly income.

This ratio is a measure that analyze an person’s monthly debt payment in accordance with his/her monthly income.

The gross income is the pay before taxes and other variables are deducted.

i.e. debt payments-to-income ratio = $\frac{Total\: of\: Monthly\: Debt\: Payments}{Gross\:Monthly\:Income}$

Therefore, the correct option is (b)

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6. Assuming the partial billing was approved for payment and the expenditure and liability (contracts payable) was recorded for

jenyasd209 [6]

Answer:

Option A, Credit to Cash, $560,000

Explanation:

As per the data given in the question,

Expenditure and liability = $700,000

Retaining percentage = 20%

Assuming the partial billing was certified for expenses and payments and liability was approved for amount $70,000. Though, Oxford has a policy not to pay 100 percent, but to retain 20 percent as a retained percentage.

So, $700,000 - $700,000 × 20%

= $700,000 - $140,000

= $560,000

Therefore, The entry to record the approved payment and retained percentage would include:

Option A, Credit to Cash, $560,000

8 0

3 years ago

On January 1, 2021, Blake Corporation issued 1,000 of its 9%, $1,000 callable bonds for $1,060,000. The bonds are dated January

Paul [167]

Answer:

$1,076,000

Explanation:

The computation of the carrying value of the bonds is shown below:

= Face value of the bond + unamortized bond premium

= $1,060,000 + $16,000

= $1,076,000

We simply added the face value of the bond and the unamortized bond premium so that the carrying value of the bond could come

All other information which is given is not relevant. hence, ignored it

8 0

2 years ago

St. Vincent's, Inc., currently uses traditional costing procedures, applying $800,000 of overhead to products Beta and Zeta on t

tatyana61 [14]

The overhead cost that should be allocated to Zeta via activity-based costing is $356,000.

The following formula for determining the overhead cost allocated to Zeta:

= Zeta pool no 1 ÷ total pool no 1 × pool cost + zeta pool no 2 ÷ total pool no 2 × pool cost + zeta pool no 3 ÷ total pool no 3 × pool cost

= 2,800 ÷ 4,000 × $160,000 + 55 ÷ 100 × $280,000 + 750 ÷ 3,000 x $360,000

= $356,000

Therefore we can conclude that the overhead cost that should be allocated to Zeta via activity-based costing is $356,000.

Learn more about the overhead here: brainly.com/question/11950737

6 0

2 years ago

Kenneth Company uses activity-based costing. It budgets $1,650,000 of overhead cost to sustainably dispose of 6,600 tons of haza

Shkiper50 [21]

The cost of hazardous waste disposal as part of Job 125 using activity-based costs is $2,500.

$1,650,000 / 6,600 tons = $250/tonHazardous waste disposal = 10 tons × $250 per ton = $2,500

A company is a prison entity shaped by means of a group of individuals to engage in and function as a commercial enterprise—business or business—organization.

A company may be organized in various ways for tax and monetary legal responsibility functions depending on the company law of its jurisdiction.

There are 3 not unusual varieties of companies—sole proprietorship, partnership, and business enterprise—and each comes with its very own set of blessings and downsides.

Learn more about the company here:-brainly.com/question/24448358

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5 0

1 year ago

Coffee and tea are substitutes in consumption. If there is an increase in the price of coffee, assuming a positively sloped supp

exis [7]

Answer:

Will increase

Explanation:

Substitutes are the goods which have high elastic demand or positive cross elasticity of demand. An increase in price substantially affects the demand for a substitute good. For example, if tea and coffee are substitutes, an increase in the price of coffee will increase the demand for tea and the overall surplus in the team market.

5 0

3 years ago