I need help with these questions.

Which repayment plan will you be placed on automatically unless you change it by contacting server.

Savatey [412]

A "standard repayment plan" is the one that will be put on automatically unless you contact the servicer to change it.

<h3>What is the standard repayment plan?</h3>

Particularly for people paying back student loans, this kind of payback schedule is regarded as being bare.

In most cases, when the payback process starts, clients are automatically put into this plan, unless they consciously modify it.

Thus, A "standard repayment plan"

For more details about A standard repayment plan, click here:

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7 0

2 years ago

During January, Luxury Cruise Lines incurs employee salaries of $1.1 million. Withholdings in January are $84,150 for the employ

finlep [7]

Answer:

Explanation:

The journal entries are shown below:

1. Salary expense A/c Dr $1,100,000

To income tax payable A/c $233,750

To FICA Tax payable A/c $84,150

To Accounts payable A/c $11,000

To Salaries payable A/c $771,100

(Being the expenses and Withholding are recorded and the remaining balance is credited to salary payable account)

2. Salary expense A/c Dr $33,000

To Accounts payable A/c $33,000

(Being the employer portion of health insurance is recorded)

3. Payroll tax expense A/c Dr $152,350

To FICA Tax payable A/c $84,150

To Unemployment tax payable A/c $68,200

(Being payroll tax expense is recorded)

5 0

4 years ago

On October 1, Year 1, Jason Company paid $7,200 to lease office space for one year beginning immediately. What is the amount of

victus00 [196]

Answer:

The amount of rent expense that will be reported on the Year 1 income statement is $1,800 .

The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $5,400.

Explanation:

Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.

The duration of the payment is 12 months, hence

Monthly amortization = $7,200/12 = $600

Rent expense for year 1 = $600 × 3 = $1,800

The ending balance in the prepaid rent account will be

= $7,200 - $1,800

= $5,400

This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.

6 0

3 years ago

If you received a constant annual rate of return of 7% on an investment of $10,000, how many years will it take before you have

DaniilM [7]

Answer:

It will take 10 years to have $20,000 on investment of $10,000.

Explanation:

Annual Rate of return = r = 7%

Compounded Value / Future Value = FV = $20,000

Investment Value / Present Value = PV = $10,000

Use Future value formula to solve this question:

Future Value = Present Value x ( 1 + Number of Year )^Number of year

FV = PV x $( 1 + r )^{n}$

$20,000 = $10,000 x $( 1 + 0.07 )^{n}$

$\frac{20,000}{10,000}$ = $( 1 + 0.07 )^{n}$

$2 = $1 .07 ^{n$

Log 2 = n log 1.07

0.30 = n x 0.03

n = $\frac{0.30}{0.03}$

n = 10.00

n = 10 year (rounded off to nearest year )

It will take 10 years to have $20,000 on investment of $10,000.

8 0

3 years ago

Eric is an inventory manager at a garment manufacturing firm. How should he plan the ordering of inventory? A. He should order l

fiasKO [112]

Answer:

B

Explanation:

i just took the test and got it correct

3 0

3 years ago