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4 years ago

Choose the best scenario for refinancing.

Business

1 answer:

777dan777 [17]4 years ago

7 0

Answer:

Correct Answer: The best scenario for refinancing is:

a. You have a current mortgage at 5% and have been approved for a new mortgage at 3.75%. You’ll break even on the closing costs in two years, and you don’t plan to move for at least five.

Explanation:

This is because, being aware that you will break even on the closing cost in 2 years which is quite better when compared to no of years to stay (atleast five years) gives the person a competitive advantage.

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Marigold Company began operations in 2019 and determined its ending inventory at cost and at lower-of-LIFO cost-or-market at Dec

Nataliya [291]

Answer:

Under the cost of good sold method no journal entry will be required. The entries will constitute adjusted along with the sales.

Under the loss method we immediately pass a debit charge to cost of goods sold in the P&L, not awaiting its sales happening.

This makes the net income in that year lower. And makes the costs of goods sold method give a higher net income.

Explanation:

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3 years ago

Mary agrees with this logic: if all violins are musical instruments, and if all musical instruments make noise, then all violins

Nata [24]

Based on this information, we would conclude that mary is in the concrete operational stage of development. The concrete operational stage of development is the third stage of Piaget's theory of cognitive development. In this stage it shows how someone starts thinking as a child grows up and it relates to logical thoughts as they get older.

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4 years ago

Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are

Naya [18.7K]

Answer and Explanation:

1. The computation of the joint cost of each production assign to the smooth skin by relative sales values method is shown below:

Smooth skin

= $360,000 × (170,000 × $3.20) ÷ (170,000 × $3.20 + 300,000 × $5.20)

= $360,000 × $544,000 ÷ $2,104,000

= $93,080

And, for silken smooth

= $360,000 × (300,000 × $5.20) ÷ (170,000 × $3.20 + 300,000 × $5.20)

= $360,000 × $1,560,000 ÷ $2,104,000

= $266,920

4 0

3 years ago

The following is a payroll sheet for Otis Imports for the month of September 2020. The company is allowed a 1% unemployment comp

DENIUS [597]

Answer:

a) I used an excel spreadsheet since there is not enough room here.

September 30, 202x, wages expense

Dr Wages expense 33,500

Cr Federal income tax withholdings payable 3,350

Cr FICA taxes (withholdings) payable 2,722.25

Cr Wages payable 27,427.75

b) September 30, 202x, payroll taxes expense

Dr FICA taxes expense 2,722.25

Dr FUTA tax expense 5.60

Dr SUTA tax expense 7

Cr FICA taxes withholdings payable 2,722.25

Cr FUTA taxes payable 5.60

Cr SUTA taxes payable 7

c) September 30, 202x, payment of payroll liabilities

Dr Wages payable 27,427.75

Dr Federal income tax withholdings payable 3,350

Dr FICA taxes withholdings payable 5,444.50

Dr FUTA taxes payable 5.60

Dr SUTA taxes payable 7

Cr Cash 36,234.85

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4 years ago

Determine the type of credit that involves a set limit based on what a consumer pays up front.

Lilit [14]

Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit.

Examples of which are:

Land loan
Home construction loan
Home mortgage
Some equity loans
Home improvement loan
Automobile loan
Boat loans or RV loans specialty finance
Student loan
Personal loan
Vacation loan

I hope my answer has come to your help. Thank you for posting your question here in Brainly.

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3 years ago