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Nonamiya [84]
3 years ago
5

Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough mo

ney for a down payment on a mortgage. What is the best thing she can do to improve her creditworthiness
Business
1 answer:
Mandarinka [93]3 years ago
5 0

Answer: She should pay down both her student loan and the credit card debt

Explanation:

From the question, we are informed that Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough money for a down payment on a mortgage.

The best thing she can do to improve her creditworthiness is for her pay down both her student loan and the credit card debt. This would help her to increase her creditworthiness.

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Problem 24-01 Liquidation Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $37
Softa [21]

Answer:

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.0

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors

Claim (1) =$1,875,000

Application of 100% Distribution(2)=$1,875,000

After Subordination Adjustment

(3)=$1,875,000

Percentage of Original Claims Received

(4)=$1,875,000

Explanation:

Calculation for how much will each class of investors receive if a total of $4 million is received from sale of the assets

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.00

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors:

Claims of General Creditors

Notes payable

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

Accounts payable

Claim (1) 375,000

Application of 100% Distribution

(2) 375,000

After Subordination Adjustment

(3) 375,000

Percentage of Original Claims Received

(4) 100%

Subordinated debentures

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

TOTAL

Claim (1) $750,000+ 375,000+750,000=$1,875,000

Application of 100% Distribution

(2)$750,000+ 375,000+750,000=$1,875,000

After Subordination Adjustment

(3)$750,000+ 375,000+750,000=$1,875,000

Percentage of Original Claims Received

(4)$750,000+ 375,000+750,000=$1,875,000

3 0
3 years ago
The perimeter of the base of the Washington monument is 220.5 feet. If the width is equal to its length, what are the dimensions
natita [175]

Answer:

both the Width and Length of the base are equal to 55.125 ft

Explanation:

Based on the information provided by the question we know that the width is equal to the length, therefore the base of the Washington Monument is a Square. The Perimeter of a Square is equal to the addition of all four sides (length and width).

P = W+W+L+L

Therefore since we know that the perimeter is 220.5 and all 4 sides are equal then we can <em>divide</em> the perimeter by 4 in order to know the size of the the sides

220.5 / 4 = 55.125 ft

Finally we can see that both the Width and Length of the base are equal to 55.125 ft

7 0
3 years ago
Cash Flow from Operating Activities (Indirect Method) The Arcadia Company owns no plant assets and had the following income stat
mario62 [17]

Answer:

Sales revenue $1,235,000

Cost of goods sold $871,000

Wages expense $273,000

Rent expense $54,600

<u>Utilities expense $19,500 </u>

Net income   $16,900

                                               End of Year      Beginning of Year

Accounts receivable                $83,200               $76,700       ($6,500)

Inventory                                   $78,000               $111,800       $33,800

Prepaid rent                               $10,400                 $9,100         ($700)

Accounts payable                    $28,600               $36,400       ($7,800)

Wages payable                          $11,700                  $7,800        $3,900

                           Arcadia Company

               <u>Cash flow from Operating Activities</u>

Net Income                                                                 $16,900

Adjusting entries to reconcile net income               $22,700

  • Decrease in inventory $33,800
  • Increase in wages payable $3,900
  • Increase in accounts receivable ($6,500)
  • Increase in prepaid rent ($700)
  • Decrease in accounts payable ($7,800)

Net cash flow from operating activities                  $36,900                                                                                    

 

4 0
3 years ago
If the labor force grows at a faster rate than the number employed, it means that
ss7ja [257]

Answer:

the number employed, the unemployment rate will rise.

Explanation:

4 0
3 years ago
Read 2 more answers
On October 5, Metlock Company buys merchandise on account from Ivanhoe Company. The selling price of the goods is $5,240, and th
frez [133]

Answer:

The answer is given below;

Explanation:

Inventory                 Dr.$5,240

Accounts Payable-Ivanhole        Cr.$5,240

Accounts Payable-Ivanhole      Dr.$640

Inventory                   Cr.$640

The scrap value given is irrelevant as the metlock will set off the account payable of ivanhole as the goods are returned to him.

3 0
3 years ago
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