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3 years ago

How did the extra, one-time payment of $100 affect the total interest Janet pays on the loan?

1 answer:

7 0

Amortization simply means the practice of spreading the cost of an intangible asset over the useful life of the asset.

Your question is incomplete as you didn't provide the amortization table. Therefore, an overview of amortization will be given.

It should be noted that amortization is usually expensed on a straight-line basis. In such a case, the same amount will be expensed for every period over the life of the asset.

For example let's assume that Janet borrows $2000 at 4% for 2 years. The interest that will be paid will be:

= $2000 × 4% × 2

= $2000 × 0.04 × 2

= $160

The interest here is $160. Based on the question, since $100 has been paid, it should lead to a lower interest that will be paid on the loan.

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4 years ago

What are the primary reasons people choose to invest and trade stocks?

Rufina [12.5K]

Answer:

to earn a dividend

to earn capital gains

Explanation:

Stocks represent ownership in a corporation. Shareholders are entitled to share in the profits of the business. The portion of profits that shareholders get for contributing capital is the dividend.

Investing in stocks makes one a shareholder and gives them the right to dividends. Investors always select the stocks of companies likely to declare high dividends. Dividends is an important reason why investors opt for shares or stocks.

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3 years ago

JC Manufacturing purchased inventory for $ 5 comma 500 and also paid a $ 370 freight bill. JC Manufacturing returned 45% of the

algol [13]

Answer:

JC Manufacturing final cost of inventory = $3,334

Explanation:

Inventory costs to JC Manufacturing = $5,500

and a Freight bill of $370 was incurred

Total costs of Goods available for sale = $5,500 + $370 = $5,870

Then JC returned 45% of the Inventory to the seller = 45% x $5,500 = $2,475

This reduces the Costs of goods available for sale to $5,500 - $2,475 + $370 = $3,395

and took a 2% purchase Discount = 2% x $3,025 = 60.5 = $61 (approx.)

This further reduces JC manufacturing Cost of goods available for sale to = $3,395 - $61 = $3,334.

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3 years ago

At the beginning of the year, SnapIt had $13,800 of inventory. During the year, SnapIt purchased $42,600 of merchandise and sold

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Answer:

Shrinkage = Closing inventory according to the books - Actual closing inventory after physical count

Closing inventory = Beginning inventory + Purchased inventory - Sold inventory

= 13,800 + 42,600 - 35,700

= $20,700

Date Account Title Debit Credit

XX-XX-XXXX Cost of Goods sold $20,700

Merchandise inventory $20,700

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3 years ago

Waldman Associates received a written, approved contract to deliver economic consulting services, with service and payment comme

inysia [295]

Answer:

Waldman Associates

Waldman does not have a contract for purposes of revenue recognition on the day the contract is received.

Explanation:

Revenue from contracts with customers becomes recognizable after the performance of the obligations and not before. Revenue is recognized when the contractor has transferred the benefits to the beneficiary and not before. Revenue, in this instance, is to be recognized based on past performance. According to IFRS 15 and ASC 606, revenue is recognized when each performance obligation has been fully satisfied. This is the point when economic benefit has been conferred on the other contracting party.

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4 years ago