1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zloy xaker [14]
2 years ago
5

SEND HELP PERSONAL FINANCE TIMED TEST

Business
1 answer:
vodka [1.7K]2 years ago
4 0

Answer:

are making a large purchase.

Explanation:

A mortgage is a long term debt. It takes at least five years to repay a mortgage. In practice, mortgages are issues for between 10 and 30 years.

Mortgages are ideal for purchases requiring a colossal amount of money. For example, the purchase of homes, land, plants, and equipment. The repayment of the amount borrowed to facilitate such purchases is spread over many years. This enables the borrower to repay the loan in affordable monthly installments.

You might be interested in
Wildhorse Corporation enters into a 6-year lease of equipment on December 31, 2019, which requires 6 annual payments of $40,100
olga55 [171]

Answer:

31-Dec-19

Dr. Lease receivables  $ 180,498

Cr. Sales revenue         $180,498

Dr. Cost of goods sold  $ 170,000

Cr. Inventory          $ 170,000

Explanation:

The lease is recorded on the present value of all the payment to be made in the future.

We will use the present value of annuity formula

Present value of Lease = P [ ( 1 - ( 1 + r )^-n ) / r ]

where

P = annual payment = $40,100

r = implicit rate = 11%

n = numbers of payments = 6 payments

Placing values in the formula

PV of Lease = $40,100 x [ ( 1 - ( 1 + 11% )^-6 ) / 11% ] = $169,645

Now calculate the present value of guarantee residual value

PV of guarantee residual value = $20,300 x ( 1 + 11%)^-6 = $10,853

Fair value of lease = Present value of Lease payment + Present value of guarantee residual value

Fair value of lease = $169,645 + $10,853 = $180,498

Cost of equipment will be recorded in the cost of goods sold and Inventory as well.

We will pass two separate journal entries first to record the lease receivable and second to record the cost of the equipment.

3 0
2 years ago
What should a potential employee consider before agreeing to a contract?
Monica [59]
The answer is d, you should always consider everything before signing your job contract
5 0
3 years ago
Nelson Company experienced the following transactions during Year 1, its first year in operation.Issued $9,200 of common stock t
nikitadnepr [17]

Answer:

the net cash flow from operating activities for the year 1 is $1,100

Explanation:

The computation of the net cash flow from operating activities is shown below:

= Cash collection from account receivable - cash paid for the operating expenses

= $3,500 - $2,400

= $1,100

Hence, the net cash flow from operating activities for the year 1 is $1,100

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
2 years ago
What is an important quality that promotion and marketing managers need to have?
777dan777 [17]

Answer:

well they need to have good marketing to get poeples attention and making them want to invest in such thing

8 0
2 years ago
Major Co. reported 2016 income of $303,000 from continuing operations before income taxes and a before-tax loss on discontinued
Mama L [17]

Answer: $109,080; $145,920

Explanation:

Based on the information that have been provided in the question, the following can be gotten:

The amount for income tax expenses will be:

= 36% of $303,000

= 36/100 × $303,000

= 0.36 × $303,000

= $109,080

The net income will be:

Reported income = $303,000

Less income tax = $109,080

Less loss on discounted operation = $48,000

Net income = $145,920

Loss on discounted operation:

= $75,000 × (1 - 36%)

= $75,000 × (1 - 0.36)

= $75,000 × 0.64

= $48,000

3 0
2 years ago
Other questions:
  • Compare the world population index for 1960 to the world population index for 2000. then express the world population in 2000 as
    11·1 answer
  • Due to changes in​ technology, a recent trend is for product or service producers to cut out intermediaries and go directly to f
    5·1 answer
  • The chart shows a production possibilities schedule for Sabrina's Soccer how much profit does the company make from producing an
    5·1 answer
  • Cognitive dissonance theory" is most helpful for understanding the impact of:_________. 1. central route persuasion on decision
    6·2 answers
  • True of false the supreme court has ruled that the government can sometimes claim exigent circumstances if the exigency is creat
    15·1 answer
  • Money does what it does. Explain
    14·1 answer
  • A sum of money was shared
    12·2 answers
  • Donald's home was recently destroyed by a fire. He made an insurance claim for $250,000. Who is responsible for paying him the $
    8·1 answer
  • Which of the following statements is most accurate regarding sufficient and appropriate documentation?
    13·1 answer
  • The Western and Pacific Railroad has two divisions, the Western Division and the Pacific Division. The company recently invested
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!