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Yuki888 [10]
3 years ago
10

The johnsons have accumulated a nest egg of $50,000 that they intend to use as a down payment toward the purchase of a new house

. because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2800/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. however, because of other financial obligations, their monthly payments should not exceed $3400. if local mortgage rates are 5.5%/year compounded monthly for a conventional 30-year mortgage, what is the price range of houses that they should consider? (round your answers to the nearest cent.)
Business
1 answer:
algol133 years ago
6 0
Hell no to the no no no
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In January, 2020, Harmony Inc. has the following expenditures related to manufacturing a new generation of widgets. Match each e
Ivan

Answer:

Harmony Inc.

Expenditure                                          Appropriate accounting treatment

a. Machinery $550,000                       B. Capitalize to the Machine  

b. Machinery $33,000                          B. Capitalize to the Machine

Research and development $95,000 D. Expense.

c. Freight-in (Machinery) $4,250         B. Capitalize to the Machine

d. Installation, etc (Machinery) $16,500 B. Capitalize to the Machine

e. Prepaid Insurance $3,000               A. Capitalize to a different asset account.  

Explanation:

1) Data and Analysis:

a. Machinery $550,000 Accounts payable $550,000

b. Machinery $33,000 Sales Tax Expense $33,000

Research and development $95,000 Cash $95,000

c. Freight-in (Machinery) $4,250 Accounts payable $4,250

d. Installation (Machinery) $16,500 Cash $16,500

e. Prepaid Insurance $3,000 Cash $3,000

b) The correct approach in capitalizing fixed assets and related costs is to follow this procedure: capitalize freight, sales tax, transportation, and installation, in addition to the fixed asset purchase cost.

7 0
2 years ago
Strategic planning is the process _____. the process of creating a marketing strategy for the company’s product line the process
Anit [1.1K]
Strategic planning is the process of defining the company's strategy and making decisions about how to use resources to accomplish that strategy.
6 0
3 years ago
Chris has been offered a seven-year bond (face value $1,000) issued by Bayley Ltd at a price of $943.22. The bond has a coupon r
ZanzabumX [31]

Answer:

As the actual price of such bonds should be $950.51 and the bonds are offered at a lower price, the bonds should be bought at the offered price.

Explanation:

To determine whether the bonds should be bought at the given price or not, we first need to calculate the price of the bond. The formula for the price of the bond is attached.

The interest payed by the bonds can be treated as an annuity.

The semiannual rate will be = 9% / 2 = 4.5%

The number of semi annual payments will be = 7 * 2 = 14

The YTM expressed semi annually will be (r) = 10% / 2 = 5%

Semi annual coupon payment or C = 1000 * 0.045 = 45

Bond Price = 45 * [(1 - (1+0.05)^-14) / 0.05] + 1000 / (1+0.05)^14

Bond Price = 950.5068 rounded off to $950.51

As the actual price of such bonds should be $950.51 and they are offered at a lower price, the bonds should be bought at the offered price.

5 0
3 years ago
Raymond Autobody Shop has the following accounts
Rashid [163]

Answer and Explanation:

The creation of the chart of the account by applying the standard numbering system is presented below:

For the assets it would be started by 100

For the liabilities it would be started by 200

For the owner equity it would be started by 300

For the revenue it would be started by 400

And, for the expenses it would be started by 500

Now the creation is as follows

                                                        <u>Balance sheet </u>

<u>Assets                                       Liabilities                    Stockholder equity</u>

100  Cash                              200 Account payable    300 R. capital

110 Automotive supplied     210 unearned revenue  300 R. withdrawal

120 equipment

                                                     <u>    Income statement</u>

                                           <u> Revenue                               Expenses </u>

<u> </u>                                         400 service revenue       500 utilities expense

                                                                                   510 advertising expense

<u></u>

5 0
3 years ago
An investment adviser that manages a portfolio for a client has not taken custody. The customer informs the adviser that he will
RoseWind [281]

Answer: C. has taken custody of customer funds and must comply with the additional requirements of the custody rule

Explanation:

The options for the question are:

A. can follow the customer's instructions without additional action taken, since this is a service to the customer

B. has not taken custody of client funds, unless the custodian bank and the investment adviser are under common ownership

C. has taken custody of customer funds and must comply with the additional requirements of the custody rule

D. has a conflict of interest that must be disclosed in writing to the customer

The Investment Advisers Act is a law which was enacted in order to regulate the investment advisers. It requires that firms that receive compensation when they advise others about their securities investments will have to register with Securities Exchange Commission and also abide with the regulations which are in place to protect the investors.

In the Act, it was said that an investment adviser has had a custody of the client assets, and should therefore comply and abide with the rule since the adviser is in possession of the client funds. Therefore, option C is the correct answer.

8 0
3 years ago
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