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2 years ago

Which are the two best examples of long-term needs that people need to save for?

Business

1 answer:

dimulka [17.4K]2 years ago

3 0

Answer:

1. college education

2. medical emergencies

Explanation:

"Long-term needs" refer to things that you will be needing in the future. Among the choices above, the two best examples of long-term needs that people need to save for are: college education and medical emergencies.

Saving up for college is important if you want to have a bright future or a better salary. Having a good income will give you the chance to save up for your future home's down payment as well as mortgage payment. It will most likely give you a better quality of life. Thus, college education should come first.

Saving up for medical emergencies is also crucial because we're all human beings who, at some point, will deteriorate physically. There are also incidents which we cannot control such as "car accidents." Having money allotted for it will prevent you from borrowing money from other people.

Read more about assets here:

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4 0

1 year ago

In 2019, Alliant Corporation acquired Centerpoint Inc. for $352 million, of which $62 million was allocated to goodwill. At the

Komok [63]

Answer:

1. $34 million

2. $0

Explanation:

Given that,

Fair value of Centerpoint Inc = $256 million

Book value of Centerpoint's net assets (excluding goodwill) = $228 million

Book value of Centerpoint's net assets (including goodwill) = 290 million

1. Actual Value of Goodwill:

= Fair Value of Centrepoint Inc. - Book Value of Net assets (excluding goodwill)

= $256 million - 228 million

= $28 million

Loss on Impairment of Goodwill:

= Goodwill recorded - Actual value of goodwill

= $62 million - $28 million

= $34 million

2. In this case Fair value of ($318 million) is more than Book value ($290 million) then there will be no Impairment Loss.

It means that the loss on Impairment of Goodwill = $0.

6 0

2 years ago

On January 1, 2020, Tamarisk Corporation issued $700,000 of 9% bonds, due in 8 years. The bonds were issued for $740,784, and pa

EleoNora [17]

Answer:

Cash 740,783 debit

Bonds payable 700,000 credit

Premium ob BP 40,783 credit

--to record issuance--

Interest expense 29,631.32 debit

premium on BP 1,868.68 debit

cash 31,500 credit

--to reocrd first interest payment--

Interest expense 29,556.57 debit

premium on BP 1,943.43 debit

interest payable 31,500 credit

--to record accrued interest at year-end on BP--

Explanation:

procceds 740,783

face value 700,000

premium on bonds payable 40,783

When comparing, the firm received more than the face value hence, there is a premium on the bonds as the coupon payment are above the market rate.

Now, the interest will be calculate as follow:

carrying value x market rate:

740,783 x 0.08/2 = 29,631.32 interest expense

cash outlay:

700,000 x 0.09/2 = 31,500

amortization on premium (difference) 1,868.68

new carrying value: 740,783 - 1,868,68 = 738,914

second payment accrual:

738,914 x 0.04 = 29,556.57

cash outlay 31500

amortization 1,943.43

7 0

2 years ago

Westfall Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $ 50 comma 000 and its total

Dafna11 [192]

Answer:

The cash flows from operating activities for 2018 is $99,000.

Explanation:

Westfall Industries

Statement of cash flows (extract)

Net income $81,000

Add Loss on the sale of land 4,000

Depreciation expense 8,000

Decrease in current asset 2,000

Increase in current liabilities 4,000

Cash flows from operating activities $99,000

Decrease in current assets was arrived at by comparing the closing balance of $48,000 to the opening balance of $50,000.

Increase in current liabilities was arrived at by comparing the closing balance of $40,000 to the opening balance of $36,000.

5 0

3 years ago

Olongapo Sports Corporation is the distributor in the Philippines of two premium golf balls-the Flight Dynamic and the Sure Shot

lesya [120]

Increase in contribution margin = P 183,750×45.9% = P84,341.25.

Gross margin and gross margin both consider the profitability of businesses of all sizes. The difference between them is that gross margin compares profits and sales in dollars, whereas gross margin compares costs and sales. To calculate profit margin, start with gross profit, which is the difference between sales and COGS. Then find the percentage of sales that equals the gross profit.

Margin is the down payment you make for the total cost of your home. Lenders will only finance up to 75-90% of the total cost of the property, leaving the rest as margin. Lenders see this upfront payment as a sign of commitment, and large payments reduce lending risk.

Learn more about margin at

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6 0

1 year ago