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r-ruslan [8.4K]
3 years ago
14

The following accounting data is used for questions 8 and 9:

Business
1 answer:
ikadub [295]3 years ago
6 0

Answer:

Explanation:

Walsh’s percentage invested in inventory is closest to the result of the amount invested in inventory divided by the total asset then expressed as a percentage.

Mathematically,

percentage invested in inventory = Inventory balance/ total assets * 100%

This is

= $530,000/$1,170,000 * 100%

= 45.3%

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You want to purchase a new condominium that costs $325,000. Your plan is to pay 20 percent down in cash and finance the balance
alekssr [168]

The monthly mortgage payment including principal and interest is $1,936.25

Explanation:

PV = (1 - 0.20) × $325,000 = $260,000‬

r = 0.041 / 12

t = 15 * 12 = 180

C = \frac{PV}{\frac{1- [\frac{1}{(1+r)^{t} } ] }{r}}

C = $260,000‬ ÷ [1 - {1 / (1 + 0.041 / 12)∧180} / (0.041 / 12)]

C =  $1,936.25

The monthly mortgage payment including principal and interest is $1,936.25

7 0
3 years ago
Johnson Corporation unadjusted trial balance at year-end include the following accounts. Compute the uncollectible account expen
Alborosie

Answer:

Explanation:

The journal entries are shown below:

A. Uncollectible Expense A/c Dr $11,520

            To Allowance for doubtful accounts A/c  $11,520

(Being the uncollectible expense is recorded)

The computation is shown below:

= $1,152,000 × 1%

= $11,520

B.  Uncollectible Expense A/c Dr $12,960

            To Allowance for doubtful accounts A/c  $12,960

(Being the uncollectible expense is recorded)

The computation is shown below:

= $1,152,000 × 1.5% × 75%

= $12,960

C.  Uncollectible Expense A/c Dr $9,816

              To Allowance for doubtful accounts A/c  $9,816

(Being the uncollectible expense is recorded)

The computation is shown below:

= $12,000 - $2,184

= $9,816

5 0
2 years ago
why might a bank offer to make a loan to a consumer at a low initial rate which will increase after a set period of time?a. too
Whitepunk [10]

I believe the answer is: c. to make the loan look more attractive and competitive now

By offering it at low initial rate, the people who borrow money would experience low burden if they plan to return the money within short period of time. This would make them much more likely to obtain a loan, and it also would make the bank that create the loan program looks better compared to their competitors.

8 0
3 years ago
If your lifestyle budget is $50000 a year selecting a career earning $75,000 will most likely allow you to meet your lifestyle g
NARA [144]
From what is said the answer is true. that leaves 25000 over your lifestyle budget
8 0
3 years ago
Recher Corporation uses part Q89 in one of its products. The company's Accounting Department reports the following costs of prod
DedPeter [7]

Answer:

Recher Corporation:

a) Financial impact of buying part Q89:

i) Relevant costs for In-house production of part Q89 are the avoidable costs:

Direct materials - $7.60

Direct labour - $4.20

Variable overhead - $8.30

Supervisor's salary $3.20

Avoidable general overhead - $0.81

Avoidable cost = $24.11 per unit

Total = $24.11 x 6,200 = $149,482

ii) Relevant cost of buying outside equals outside price minus additional segment savings = (6,200 x $27) - $15,600 = $151,800

When i) is compared with ii), it shows that it would cost more to buy outside ($151,800) than to produce the part in-house ($149,482).

b) The alternative the company should choose is to produce in-house.

Explanation:

a) The avoidable general overhead of $0.81 was obtained by dividing $5,000 of general overhead by 6,200 units, i.e. $5,000 / 6,200.

b) The depreciation for the special equipment is not included as it is not relevant.  It must be incurred no matter the option chosen.

c) The relevant cost of buying the part outside was reduced by $15,600 since this amount would be realized as additional margin with the choice.

d) |n making cost decisions, relevant and avoidable costs are considered.  Any cost that will be incurred notwithstanding the choice made is not relevant.  Such costs are unavoidable.  For example, the depreciation on the equipment.

5 0
2 years ago
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