Answer: B. $40,000, $960,000
Explanation:
The long term obligation will be 80% of the collateral value which will be:
= 80% × $1.2 million
= 0.8 × $1,200,000
= $960,000.
Therefore, the short term obligation will be:
= $1,000,000 - $960,000
= $40,000
Answer:
The correct answer is Integrity and Ethical Values.
Explanation:
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative aimed at providing thought leadership through the development of frameworks and guidance on enterprise risk management and internal control.
The Enterprise Risk Management Framework internal environment aspect ensures that resources are put to work really defines the course of a project. Also, it addresses the need for corporations to enhance their techniques in managing risk in order to meet the increasing demands of a dynamic business environment.
A situation where the receptionist sees the manager putting printer paper and toner (resources) into his briefcase on his way out the door best reflects a weakness in integrity and ethical Values.
Answer:
monthly payment = $10,009 (rounded to nearest dollar)
Explanation:
A 3/1 adjustable rate mortgage (ARM) means that the monthly payment will be fixed during the first 3 years only. Then they should vary, although the variance is generally upwards. The monthly interest can be calculated by using the present value of an annuity formula:
monthly payment = present value of the loan / annuity factor
- present value of the loan = $2,225,000 x 85% = $1,891,250
- PV annuity factor, 0.40625%, 360 periods = 188.9615
monthly payment = $1,891,250 / 188.9615 = $10,008.65256 ≈ $10,009
Answer:
at the end
Explanation:
Adjusting entries are made at the end of an accounting period after a trial balance is prepared to adjust the revenues and expenses for the period in which they occurred.
