Where do most banks get the text to explain their calculations of interest?

Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows

guajiro [1.7K]

Answer:

Cash inflows = $3,260

Cash outflows = $3,260

Total assets = $22,300

Total liabilities = $2,724

Net worth = $19,576

Explanation:

Cash inflows = Monthly take-home salary $3,260

Cash outflows = Rent for the month $1,360 + Spending for food $560 + Telephone bill paid for month $94 + Loan payment $147 + Auto insurance $326 + Payment for electricity $166 + Lunches/parking at work $181 + Donations $122 + Clothing purchase $137 + Restaurant spending $167 = $3,260

Total assets = Cash in checking account $1,270 + Savings account balance $1,990 + Current value of automobile $8,530 + Household possessions $3,970 + Stereo equipment $2,590 + Home computer $2,140 + Value of stock investment $1,810 = $22,300

Total liabilities = Balance of educational loan $2,390 + Credit card balance $334 = $2,724

Net worth = $22,300 - $2,724 = $19,576

4 0

4 years ago

If your business earns $20,000 in revenues, has explicit costs of $7,000, and implicit costs of $5,000, your accounting prof

iogann1982 [59]

Answer:

Accounting profit is $13,000.

Explanation:

Given information:

Total Revenues = $20,000

Explicit costs = $7,000

Implicit costs = $5,000

The formula for accounting profit is

Accounting profit = Total revenues - Explicit costs

Substitute the given values in the above formula.

Accounting profit = $20,000 - $7,000

= $13,000

Therefore, the accounting profit is $13,000.

7 0

4 years ago

Justin has visited ESPN.com several times within in the last hour and almost daily within the last 3 months. In terms of countin

Kitty [74]

Answer:C. If Justin accesses ESPN from a different computer, he will not be counted as a new visitor

Explanation: internet connectivity is recognised through the use of the IP(INTERNET PROTOCOL) ADDRESS.

The internet protocol number is essentially recognised and through it a particular connection is recognised, every connection has a unique internet protocol number, so it Justin connects with ESPN using another computer system he will be recognised as a new user as he is connected through another internet protocol number or address.

8 0

3 years ago

You have just won the state lottery and have two choices for collecting your winnings. You can collect $100,000 today or receive

muminat

Answer:

$100,000 and $97,368

Explanation:

In this question we compare the cost between the two options available i.e shown below:

First options

Collect today for $100,000

Second options, the present value is

= Annual cash flows × PVIFA factor for 10% at 7 years

= $20,000 × 4.8684

= $97,368

So the present value of the first option is $100,00 0

And, for the second options it is $97,368

5 0

3 years ago

How did business and government use the concept of personal liberty to attack unions and the freedoms of American labor

Musya8 [376]

Answer:

they believed collective bargaining infringed on the liberties of management and argued that prosperity depended on complete freedom for business

Explanation:

that's it

4 0

3 years ago