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3 years ago

Make a recommendation to Tom. Which loan should he use?

Business

2 answers:

ale4655 [162]3 years ago

6 0

Answer:

this is the sample answer

Explanation:

Tom should take loan option B, the loan with compound interest. Normally, loans with compound interest will result in more interest being paid. In this case, Tom needs to pay close attention to the interest rates that apply. Because the simple interest loan has a rate that is so much higher, it would be wise to choose the compound interest loan.

Lesechka [4]3 years ago

3 0

Answer:

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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31

LUCKY_DIMON [66]

Answer:

Fit-for-Life Foods

Multiple-step income statement, for the year ended December 31

Sales 220,000

Less Sales returns and allowances (4,000)

Net Revenue 216,000

Less Cost of goods sold (90,000)

Gross Profit 126,000

Less Operating Expenses :

General and Administrative Expenses

Gain on sale of equipment ( 6,250)

Office supplies expense 700

Depreciation expense—Office copier 500

Insurance expense 1,300

Office salaries expense 32,500 (28,750)

Selling and Distribution Expenses

TV advertising expense 2,000

Sales discounts 16,000

Sales commission expense 13,000

Sales staff wages 23,000

Rent expense—Selling space 10,000 (64,000)

Operating Income / (Loss) 33,250

Less Non - Operating Expenses

Interest revenue 750

Net Income / (Loss) 34,000

Explanation:

A multiple-step income statement shows separately profit generated from Primary Activities of the Company (Operating Profit) and profits that included Secondary Activities of the Company (Net Profit)

3 0

4 years ago

The normal selling price per unit of a product is $480, and its total cost per unit is $375. Using the total cost concept, calcu

Arisa [49]

Answer:

The markup per unit is $105

Explanation:

The computation of the markup per unit is shown below:

Markup per unit is

= Normal selling price per unit - total cost per unit

= $480 - $375

= $105

We simply deduct the normal selling price per unit from the total cost per unit so the markup per unit could come

Hence, the markup per unit is $105 and the same is to be considered

5 0

3 years ago

Strike offers to sell Bailey one thousand shirts for a stated price. The offer declares that shipment will be made by Dependable

Vikentia [17]

Answer:

We can assume that both Strike and Bailey are American companies and that they operate in that US under the UCC rules. Under UCC rules they are both considered merchants since they trade with the goods related to the contract. Strike's offer was very precise and Bailey's acceptance was made in a reasonable manner which can be considered a valid acceptance.

The only difference exists with the shipping company, which the UCC rules consider a conflicting term and Strike should have either objected or ratified it before sending the goods. Since Strike didn't object Bailey's terms, then by using a different truck company it is breaching the contract.

8 0

3 years ago

The Swiss Clock Shop manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direc

Georgia [21]

Answer and Explanation:

The computation of the equivalent units for direct material and conversion cost is shown below:

Physical units Direct Materials Conversion Cost

Beginning

Work in process

100% and 50% 250

Units Started 800

Total Units

Under process 1,050

Less : Ending

Work in process 150

Units Transferred

to TestingDepartment 900 900 900

Ending Work in process 150 150 112.50

(100% and 75%)

Equivalent units ofproduction 1,050 1,050 1,012.50

7 0

4 years ago

During the current year, Karen sells her entire interest in Central Corporation common stock for $ 22 comma 000. She is the sol

statuscvo [17]

Solution and Explanation:

Amount realized 22,000 Minus: Basis 89,000 Loss recognized 67000

answer a ) Since Karen is single she can guarantee this lose as a common misfortune to a limit of $50,000. Karen won't have the option to guarantee the whole $67,000 that she lost she can just guarantee $50,000.

answer b) Since Karen is recording a joint government form she can guarantee a lose of upto $100,000. Karen will have the option to guarantee the whole loss of $67,000.

answer c ) With the stock being bought from another investor as opposed to the sorting out enterprise she can guarantee the whole loss of $67,000 as a captial gain misfortune.

answer d ) B. By selling a segment of the stock in one year and the staying stock in one more year Karen could change over the whole misfortune on the deal to a normal misfortune.

7 0

3 years ago