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Nesterboy [21]
3 years ago
7

Jasmine Smith owns a condo worth $340,000, a car valued at $27,000, and miscellaneous assets worth $8,500. She owes $189,000 on

the condo and $11,500 on the car and has no other debts. Her retirement account, in which she is fully vested, contains $46,500 in mutual funds. She was just insured with a $540,000 term life insurance policy. What are her total assets
Business
1 answer:
Misha Larkins [42]3 years ago
7 0

Answer:

her total assets are $422,000

Explanation:

The computation of the total assets is shown below:

Jasmine Smith's total assets is

= Worth of condo + Value of car + Miscellaneous assets + Mutual fund investment

= $340,000 + $27,000 + $8,500 + $46,500

= $422,000

hence, her total assets are $422,000

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

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During the first month of operations ended July 31, YoSan Inc. manufactured 2,400 flat panel televisions, of which 2,000 were so
photoshop1234 [79]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Units manufactured= 2,400

Units sold= 2,000

Sales= $2,150,000

Manufacturing costs:

Direct materials= $960,000

Direct labor= $420,000

Variable manufacturing cost= $156,000

Fixed manufacturing cost= $288,000

Total= $1,824,000

Selling and administrative expenses:

Variable= $204,000

Fixed= $96,000

Total= $300,000

<u>Under the absorption costing, the cost of goods sold is calculated using the direct materials, direct labor, and total unitary manufacturing overhead.</u>

First, we need to calculate the cost of goods sold:

Unitary product cost= total cost/units produced

Unitary product cost= 1,824,000/2,400= $760

Now, we can determine the net operating income:

Sales= 2,150,000

COGS= (2,000*760)= (1,520,000)

Gross profit= 630,000

Total Selling and administrative expenses= (300,000)

Net operating income= 330,000

3 0
3 years ago
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in it
Marina86 [1]

Answer:

The cost of units transferred out during the month was:$ 99980

Explanation:

Mundes Corporation

Current Costs Added

Units Transferred  Costs $ 90480

Materials =8700 * $ 4.7= $ 40890

Conversion= 8700* $5.70= $ 49590

Costs from Preceding Department (WIP beginning Inventory)= $ 9500

Total Costs= Costs Added + Costs from Preceding Department

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The Costs of units transferred out is $ 99980

The current costs are added to the preceding costs to get the total costs of the units transferred out.

7 0
3 years ago
If real GDP per capita measured in 2009 dollars was​ $6,000 in 1950 and​ $48,000 in​ 2018, we would say that in​ 2018, the avera
babunello [35]

Answer:

The correct answer is (B)

Explanation:

Gross domestic product is the economic value of goods and commodities produced within the country in a specific period. GDP per capita is calculated by dividing GDP by the total number of population.  In 1950 the GDP of American was 6000$, and in 2013 it was 48000$.

6000$ * 8 =48000$

An average American could buy 8 times more than the average American in 1950.

4 0
3 years ago
What are the main customers of bank of canada
Viefleur [7K]

The Canadian banking system is a conservative system that consists of five main categories. They are:

Chartered banks

Trust and loan companies

Cooperative credit movement

Life insurance companies

Securities dealers

For anyone considering a career in banking in Canada, this list of top banks in Canada is a helpful guide on where to start. To learn more, see our lists of financial institutions.

4 0
3 years ago
The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature o
DIA [1.3K]

Answer:

I strongly believe that the requirement is to calculate the price of the bond.

The bond is worth $ 70,824,063.03  

Explanation:

It is noteworthy that a rational would-be investor would pay for a bond a price that reflects the cash flows receivable from the bonds in future discounted to today's terms.              

The future cash flows comprise of the semi-annual coupon interest of $4 million(10%/2 *$80 million) for 20 periods as well as the repayment of the principal $80 million at the end of period 20

Since coupon is paid every six months, the coupon would be twenty times over the life of the bond(paid twice a year for 10 years)        

To bring the cash inflows today's term, we multiply them them by the discounting factor 1/(1+r)^N , where is the yield to maturity of 12% and N is the relevant the cash flow is received.          

The discounting is done in attached spreadsheet leading $ 70,824,063.03 present value today.        

Download xlsx
5 0
3 years ago
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