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Sloan [31]
3 years ago
5

Warm-Up

Business
1 answer:
zloy xaker [14]3 years ago
4 0

Answer:

$1,088.12

Explanation:

The formula for calculating monthly repayments is as below.

M=  P x   <u>  r      </u>

              1 − (1+r)−^n

where p is the loan amount = $220,000

r = 4.3per cent or 0.043 % interest rate per year,

 on monthly basis r will be 0.043/12=0.00358%

n = 30 year, which is 30 x 12 months= 360 months

M= $220,000 x <u> 0.00358    </u>

                         1 - (1+0.00358 ) ^ - 360

M=$220,000 x<u>  0.00358  </u>

                         1- 0.2762

M = $220,000 x (0.00358 /0.7238)

M = $220,000 x 0.0049461

M = 1,088.12

Monthly payments will be $1,088.12

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Answer:

The correct answer is letter "D": Judy, an expert horse trainer, sells Bob a horse.

Explanation:

According to the Uniform Commercial Code (<em>UCC</em>) a <em>merchant </em>is a person who deals with a product or service of a business in which that person is regularly engaged. The <em>merchant </em>has knowledge and expertise related to the practices involved in the business transaction.

In that sense, only Judy, who is a horse trainer, would be labeled as a <em>merchant </em>by the UCC for selling a horse.

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If the direct write-off method of accounting for uncollectible receivables is used, what general ledger account is credited to w
Olin [163]

Answer:

Option B) Accounts Receivable

Explanation:

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In this method doesn't exist a contra asset account such as  Allowance for Doubtful Accounts, the Bad Debt Expenses are reported on the Income Statement one year later of the sale.

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On January 1, 2018, Orangewood Industries bought a new cash register for $7,500. Orangewood plans to use the cash register for 4
masya89 [10]

Answer:

Depreciation expense for the year ended December 31, 2018 equals: $1,725

Explanation:

Orangewood uses straight-line depreciation, Depreciation Expense each year is calculated by following formula:

Depreciation Expense = (Cost of asset − Residual Value)/Useful Life

In Orangewood:

Cost of ash register is $7,500. The company plans to use the cash register for 4 years and then sell it for $600, therefore, Residual Value is $600 and Useful Life is 4 years.

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The cash register was bought on January 1, 2018. Depreciation expense for the year ended December 31, 2018 equals: $1,725

7 0
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Who are the households sector consist of and why is this sector a producer and consumer​
strojnjashka [21]

Answer:

The answer Is below

Explanation:

The households sector is a sector that consists of people such as consumers or end-users and entrepreneurs that are not into a corporation

Also, this sector has producers and consumer​s because consumers are the individuals that consume the goods and services produced.

Similarly, there are producers in the household sectors as some individuals produce goods and services for themselves and their immediate environment without going into a corporation. For example, Street food vendors, Cobblers, carpenters, and many more.

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