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3 years ago

In order to minimize the difficulty associated with meeting monthly loan payments, the debt service ratio should be __________.

1 answer:

8 0

In order to minimize the difficulty associated with meeting monthly loan payment, the debt service ratio should be : Below 35 %

This Ratio showed that your annual monthly income still able to cover up your loan payments after considering your housing and other expenses for your daily lives

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During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel

liberstina [14]

Calculation of Cost of Sales for Mattel for the year 2016:

It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259

Hence the Cost of Sales is 2,902,259 ($ in thousands).

4 0

3 years ago

Newton Bay is a sparsely populated area. The government plans to build an international airport there and announce this plan Pub

ad-work [718]

Answer

The demand for land will increase. and the price of land will increase.

3 0

3 years ago

Read 2 more answers

Kingbird Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $249,600 and a r

dimulka [17.4K]

Answer:

The amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.

Explanation:

This can be calculated as follows:

Patent book value = $249,600

Remaining useful years January 1, 2020 = 8

Remaining useful months of the patents from January 1, 2020 = Remaining useful years January 1, 2020 * 12 8 * 12 = 96

Monthly Patent book value = Patent book value / Remaining useful months = $249,600 = $2,600

Patent book value amortized from January 1, 2020 to December 1, 2020 = Monthly Patent book value * 12 = $2,600 * 12 = $31,200

Legal fee incurred = $93,500

Number of months from January 1, 2020 to December 1, 2020 = 11

Relevant months of legal fee incurred starting from December 1, 2020 = Remaining useful months of the patents from January 1, 2020 - Number of months from January 1, 2020 to December 1, 2020 = 96 - 11 = 85

Monthly legal fee = Legal fee incurred / Relevant months of legal fee incurred starting from December 1, 2020 = $93,500 / 85 = $1,100

Amount to report = Patent book value amortized from January 1, 2020 to December 1, 2020 + Monthly legal fee for December 1, 2020 only = $31,200 + $1,100 = $32,300

Therefore, the amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.

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2 years ago

You are contemplating adding direct selling activities to your existing bricks-and-mortar retail business to increase sales. You

Ksivusya [100]

Answer:

It may be more expensive and time-consuming than using an intermediary

Explanation:

Direct selling makes it hard to reach new customers and also entails spending an extensive time in trying to convince prospective customers before sales is made. Sadly, in some situations, some prospects do not buy in on the intended product and thus, no sale is made and time wasted.

8 0

3 years ago

Read 2 more answers

On January 1, Year 1, Barnes Company issued a $100,000 installment note. The note had a 10-year term and an 8 percent interest r

Over [174]

Answer:

e) $93,097

Explanation:

Interest for 1st year = $100,000*8%

Interest for 1st year =$8,000

Principal repayment for 1st year = $14,903 - $8,000

Principal repayment for 1st year = $6,903

Principal balance on January 1,Year 2 = $100,000 - $6,903

Principal balance on January 1,Year 2 = $93,097

3 0

2 years ago