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3 years ago

which question or questions should you ask yourself when determining how much money you can afford to spend on a mortgage

1 answer:

3 0

What is my income. then subtract
what are my ordinary monthly expenses.
what is my weekly allowance.
what are my incidentals
what are my insurance and taxes going to be.
are these included in the mortgage.
allow 10% for tithing
clothing costs
medical copays.
do you get paid for sick days.

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Retained earnings a.over time will have a direct relationship with the amount of cash on hand if the corporation is profitable.

Gwar [14]

Answer:

d.is the cumulative total of net income, minus net losses, and minus dividends.

Explanation:

As we know that

The stockholder equity statement involves the common stock and the retained earnings statement

It is prepared to find out the ending balance of common stock and the retained earning that is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income or minus net loss - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issuance of the shares

3 0

3 years ago

Suppose your bank account pays interest monthly with an eﬀective annual rate of 6%. What amount of interest will you earn each m

Bess [88]

Answer:

0.4868%

$615.47

Explanation:

Given that

a. EAR = 6%

Thus,

Equivalent monthly rate = (1 + r)^n - 1

Where r = EAR

Therefore

= (1 + 0.06)^1/12 - 1

= 1.0048675 - 1

= 0.0048675 × 100

= 0.4868%

b. Given that

Monthly rate = 0.4868%

Future value = 100,000

Time = 10 years

Recall that

FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)

Where

C = payment

Therefore

100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)

C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)

C = $615.47 per month

4 0

3 years ago

Read 2 more answers

The following production data were taken from the records of the Finishing Department for July: Inventory in process, July 1, 40

ki77a [65]

Answer:

37,000 units

Explanation:

The computation of the total equivalent units for direct material is shown below:

= Transferred to finished goods during the month of July + Ending work in process during the month of July - Inventory in process as on July 1

= 37,500 units + 3,500 units - 4,000 units

= 41,000 units - 4,000 units

= 37,000 units

We simply used the above formula so that the total equivalent units for direct materials using the FIFO method could come

3 0

3 years ago

Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs:

kicyunya [14]

Answer:

Total Manufacturing Costs is $95,680

Explanation:

Wyckam Manufacturing Inc.

Planning Budget for Manufacturing costs

For the month Ended June 30

Direct Materials (4,200 hours *$5.40) $22,680

Direct Labor Fixed $42,400

Supplies (4,200 hours * $0.25 ) $1,050

Utilities ($1,700+ 4,200 Hours * $0.25) $2,750

Depreciation Fixed $15,200

Insurance Fixed $11,600

Total Manufacturing Costs $95,680

7 0

3 years ago

A company declared and paid a cash dividend. The dividend would appear on the company's statement of cash flows as: Select one:

Kisachek [45]

Answer:

d. a deduction under financing activities.

Explanation:

As if the company declared and paid the cash dividend so the same is to be considered in the financing activities of the cash flow statement.

This amount should be shown in the negative amount as it decreases the cash that means it is an outflow of cash

Hence, the correct option is d. and the same is to be considered

3 0

3 years ago