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wel
3 years ago
6

Mike and Mary Jane Lee have a yearly income of $79,352 and own a house worth $102,100, two cars worth a total of $ 19,907 and fu

rniture worth $10,442. The house has a mortgage of $58,347 and the cars have outstanding loans of $2,567 each. Utility bills, totaling $242 for this month, have not been paid. Calculate the debt ratio for the Lee household. Mike and Mary Jane's debt ratio is
Business
1 answer:
77julia77 [94]3 years ago
8 0

Answer:

Total assets            $

Building                102,100

Motor vehicle       19,907

Furniture               <u>10.442</u>

Total assets          <u>132,449</u>

<u></u>

Total liabilities        $

Mortgage loan      58,347

Outstanding loan  2,567

Utility bills unpaid <u>242</u>

Total liabilities       <u> 61,156</u>

Debt ratio = Total liabilities   x 100

                     Total assets

Debt ratio = $61,156   x   100

                     $132,449

Debt ratio = 46.17%

Explanation:

In this case, there is need to calculate the total assets, which is the aggregate of building, motor vehicle and furniture.

We also need to calculate the total liabilities, which is the aggregate of mortgage loan, car loan outstanding and utility bills unpaid.

Debt ratio is obtained by dividing total liabilities by total assets multiplied by 100.

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Stuart owns 300 shares of Turquoise Corporation stock and 2,000 shares of Blue Corporation stock. During the year, Stuart receiv
Crank

Answer:

The answer is: A) $0

Explanation:

I am assuming Stuart's stock is part of his retirement account. If this is true, then the stock dividends and stock splits are not taxed as they are earned (but they will be taxed later when Stuart starts receiving his distributions).

If Stuart's stock was not part of his retirement account, then he would have to pay taxes (usually a 15% tax rate applies).

5 0
3 years ago
Read 2 more answers
A manufacturer makes lightbulbs and claims that their reliability is 98 percent. Reliability is defined to be the proportion of
quester [9]

Answer:

The expected number of nondefective lightbulbs is 980 out of a random sample of 1,000 bulbs.

Explanation:

Hi, if the company is right, this is the operation that we need to do.

Bulbs(operating)=1,000*0.98=980

So, we are expecting 980 working bulbs out of a sample of 1,000

Best of luck

4 0
3 years ago
The profit and loss system of capitalism helps entrepreneurs determine the
mrs_skeptik [129]

Answer:

best combination of resources to use to produce a product.

Explanation:

Capitalism also referred to as free-enterprise system or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, capitalism is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a pure capitalism is a type of economy that is completely driven by demand and supply of goods and services.

In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.

Hence, the profit and loss system of capitalism helps entrepreneurs determine best combination of resources to use to produce a product.

4 0
3 years ago
3. Hari Seldon is planning for his retirement 6 years from now. He plans to deposit $30000 each year for 6 six years (i.e., 6 de
erik [133]

Answer:

a) $231,468.30

b) $209,259.56

c) 9.59%

Explanation:

a) to calculate FV, n=6,I=10, pv=0 and pmt=30000

b) to calculate effect of inflation On FV

N=6, I =6 (nominal interest less inflation), pv=0 and pmt=30000

c) [(231468.30-209259.56)/231468.30]x100

5 0
3 years ago
Ahrends Corporation makes 46,000 units per year of a part it uses in the products it manufactures. The unit product cost of this
IgorC [24]

Answer: 49.10 pee unit

Explanation:

Direct materials = $14.30

Add: Direct labor = 23.90

Add: Variable manufacturing overhead = 3.00

Add: Avoidable overhead = 28.30 - 28.40 = 0.10

Avoidable cost = 41.10

The maximum amount that the company should be willing to pay an outside supplier per unit for the part if the supplier commits to supplying all 53,000 units required each year will be:

= 41.10 × 53000 + 424,000 / 53000

= 49.1 per unit

6 0
3 years ago
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