Planning is the primary management responsibility which includes the process of creating budgets.
Planning provides a framework for a businesses financial objectives typically for the next three to five years. Thus, budgeting details how the plan will be carried out month to month and covers items such as expenses, revenue, expenses, potential cash flow and debt reduction.
A budget helps create financial stability. So by tracking expenses and following a plan, a budget can make it easier to pay bills on time, build an emergency fund, and save for major expenses etc.
Hence, a budget planning puts a person on stronger financial footing for both the day-to-day and the long term.
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Answer:
Annual Income is calculated by multiplying the Hourly wage by 4,000 hours.
The Difference between annual wage and federal poverty line is calculated by deducting the 2019 Poverty threshold of $13,011 from the Annual Income.
The Difference between annual wage and median household income is calculated by deducting the 2019 Median household income of $68,703 from the Annual income. Negative balances are highlighted.
Answer:
Consider the following explanation.
Explanation:
1. True. It is generally seen in the automobile market. The purchased inventory serves as the collateral for the loan.
2. True. The higher capital provides support for the continued solvency of these comapanies.
3. False, The federal reserve has the right and authority to regulate finance companies.
4. This statement is true.
5. True. They also charge higher interest rates than banks for bearing the risk of poor credit of these borrowers.
Answer:
Consider the following explanation
Explanation:
Under Effective interest method, Interest calculated at the effective interest rate (i.e., the yield of the bond) is charged as an expense annually, and the payment made basis the Coupon rate.
In the given case, interest to be paid semi annually i.e, on June 30 and on December 31, will be $62,500 (i.e., 2,500,000 * 5% * 6/12).
On the basis of above, the interest expense to be charged in the 2017 can be calculated as follows: take a look to the attached archive.
As calculated above, the amount to be charged as interest expense for the year 2017 is (80,220 + 80,840 i.e.,) $ 161,060.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
