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Debora [2.8K]
3 years ago
10

Robert owns a $214,000 town house and still has an unpaid mortgage of $150,000. In addition to his mortgage, he has the followin

g liabilities:
Visa $638
MasterCard 509
Discover card 405
Education loan 942
Personal bank loan 887
Auto loan 4,720
Total $8,101

Robert’s net worth (not including his home) is about $21,700. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. What is Robert's debt-to-equity ratio? Has he reached the upper limit of debt obligations? Explain.
Business
1 answer:
Ivenika [448]3 years ago
4 0

Answer and Explanation:

The computation of the debt-equity ratio is shown below

Debt - equity ratio = Debt ÷ Equity

= $8,101 ÷ $21,700

= 0.37

As the ratio is lower than 1 so Robert would not reached the upper limit with respect to the debt obligations

Hence, the same is relevant and considered too

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sabrina company recorded an adjusting entry for salaries owed to employees at the end of the year. as a result of this entry, sa
mafiozo [28]

Sabrina Company recorded an adjusting entry for salaries owed to employees at the end of the year. As a result of this entry, Sabrina Company's equity decreases and liabilities increase.

<h3>What is equity?</h3>

Equity in finance refers to ownership of assets that may be accompanied with debts or other liabilities. Liabilities are subtracted from asset value to calculate equity for accounting reasons.

<h3>What is liabilities?</h3>

A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.

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4 0
1 year ago
Lori had a great day at work and has a positive attitude. When she arrives home, she maintains this positive attitude and is in
kondaur [170]

Answer:

b. work-family enrichment

Explanation:

Based on the scenario being described within the question it can be said that in this situation Lori is experiencing the concept of work-family enrichment. This term refers to when an individual's experience in what role of their lives improves the quality of life in another role. Such as in this scenario Lori's great experience at work improved her attitude in her family environment and role as a mother.

8 0
3 years ago
Car X can come with any of these 5 additional features: sunroof, stereo, tinted windows, leather seats and cruise control.
Law Incorporation [45]

This question is incomplete! here is the complete question with answer!

Car X can come with any of these 5 additional features: sunroof, stereo, tinted windows, leather seats and cruise control.

Quantity A : Number of different combinations possible

Quantity B : 25

A The quantity in Column A is greater

B The quantity in Column B is greater

C The two quantities are equal.

D The relationship cannot be determined from the information given.

Answer:

A The quantity in Column A is greater

Explanation:

Lets first analyze the number of different combinations possible!

To find out the combinations we use the following formula:

The number of ways to choose a sample of r elements from a set of n distinct objects where order does not matter.

nCr=\frac{n!}{r!(n-r)!}

Car X can have these 5  features: sunroof, stereo, tinted windows, leather seats and cruise control.

Car X has 2 options for each feature: Included or Not included

If car X has no feature at all then:

5C0=\frac{5!}{0!(5-0)!}=\frac{5!}{0!*5!}=1

If car X has 1 feature included then:

5C1=\frac{5!}{1!(5-1)!}=\frac{5!}{1!*4!}=5

If car X has 2 features included then:

5C2=\frac{5!}{2!(5-2)!}=\frac{5!}{2!*3!}=10

If car X has 3 features included then:

5C3=\frac{5!}{3!(5-3)!}=\frac{5!}{3!*2!}=10

If car X has 4 features included then:

5C4=\frac{5!}{4!(5-4)!}=\frac{5!}{4!*1!}=5

If car X has all of the 5 features included then:

5C5=\frac{5!}{5!(5-5)!}=\frac{5!}{5!*0!}=1

Now sum all the possible combinations: 1+5+10+10+5+1=32

So, quantity A is 32 and quantity B is 25

Therefore, we can conclude that the quantity in column A is greater

8 0
3 years ago
On January 2, The Public Legal Clinic issued Check 2108 for $370 to establish a petty cash fund. Indicate how this transaction w
denis23 [38]

To create the petty cash fund, make the following journal entry: debit Petty cash fund account ($430), credit cash account ($430).

<h3>What is petty cash fund?</h3>

A petty cash fund's main objective is to give business units enough money to pay for small expenses. The purpose is to make it easier for staff workers and visitors to get reimbursed for little expenses like taxi rides, postage, office supplies, and other things that often don't cost more than $25.00.

The data can also come from of the petty cash fund. Add up all of the expenses that are mentioned on each petty cash vouchers in the petty cash fund. This sum should be deducted from the calculated cash withdrawal amount. The outcome ought to be 0. There is an excess of cash in the fund if there is a residual balance.

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6 0
1 year ago
Which of the following is a typical current liability?
Anestetic [448]

Answer: Option B

                 

Explanation: In simple words, current liabilities refers to the obligations and promises that an entity has to pay within a year. These liabilities usually arise due to the need of an organisation to fulfill their short term requirements to operate the business efficiently.

These liabilities are of critical in nature as they directly affects the liquidity of the business. In the given case, sales tax payable is the only obligation that must be fulfilled with a year. Hence it is a current liability.

6 0
3 years ago
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