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Mila [183]
2 years ago
7

Buying a Vacation Home

Business
1 answer:
Liono4ka [1.6K]2 years ago
4 0

The debt to income ratio is 86 percent. This is high so the family should not buy a house.

<h3>The total debt that is owed by this family </h3>

First mortgage = $43,000

Outstanding debts = $12,200

Car loan =  $13,700

Second mortgage =$25,700

The total debt that this family is owing is given as

$43,000+ $12,200+$13,700+$25,700

= 94600 dollars

The total income that this family makes is given as $110,000.

The debt to income ratio would be

94600/$110,000.

= 0.86

Therefore the debt to income ratio that this family has is 86%.

Given that their debt to income ratio is high, it is advisable that the family has to stay away from purchasing a new house.

Read more on debt and income ratio here:brainly.com/question/24814852

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An asset (not an automobile) put in service in June 2019 has a depreciable basis of $40,000 and a recovery period of 5 years. As
arlik [135]

Answer:

$40,000

Explanation:

Maximum amount of cost that can be deducted is full amount of $40,000. The maximum amount that can be claimed as bonus depreciation is the cost of the asset under consideration. The percentage of claim might be different and applicable according to announced by the Tax department, but the total amount that a person can claim as Depreciation Bonus is the Total cost of that asset.

3 0
3 years ago
Can u solve this plsss​
Inessa [10]

The main reason why the Japanese liberalized the bank mergers in Japan was to protect the economy and prevent an economic crash.

<h3>What is Financial Liberalization?</h3>

This refers to the removal of regulatory control in the financial sector to promote economic growth.

The government of Japan faced an economic crash that threatened to cripple the economy due to stock market crash, failing banks, etc and there was the use of risk-based capital to try and prevent this, amongst other solutions.

Hence, we can see that the key aspects of the liberalization program were:

  • Mergers
  • Acquisitions.

The key criticism of the program is that it failed to address the scale of the problem and the solution was only short-term.

Read more about financial liberalization here:

brainly.com/question/26948358

#SPJ1

6 0
1 year ago
Novak Corporation amended its pension plan on January 1, 2020, and granted $152,280 of prior service costs to its employees. The
m_a_m_a [10]

Answer:

26762.74

Explanation:

Prior service cost amortization for 2020 can be calculated by first calculating the average time until the employee's retirement. After calculating the average time until retirement we will divide the service cost at that time

Workings

average time until retirment  = 1880/330

average time until retirment = 5.69 years

prior service cost amortization for 2020 = $152,280/5.69

prior service cost amortization for 2020 = $26762.74

3 0
3 years ago
A natural monopoly, such as a local electricity provider, is the result of: i. a firm owning or controlling a key input used in
Leni [432]
A natural monopoly, such as a local electricity provider, is the result of long run average total costs declining continuously as output increases. The correct option among all the options that are given in the question is option "3". The initial cost of power generation and power distribution cost is high. Once the generation starts and the number of consumer increases, the average cost starts declining.
7 0
3 years ago
Sole Purpose Shoe Company is owned and operated by Sarah Charles. The company manufactures casual shoes, with manufacturing faci
grandymaker [24]

Answer:

Sole Purpose Shoe Company

The reason for Sarah to want to use standard costs to compare with her actual costs is:

A) Management can evaluate the differences between standard costs and actual costs to focus on correcting the cost variances.

Explanation:

Standard costs provide a control technique for evaluating the Sole Purpose Shoe Company's performance at three levels: a standard performance level, a measure of actual performance, and a measure of the difference (variance) between standard and actual costs.  Sarah will use the variance resulting from the comparison of standard costs with actual costs to measure the non-financial performance of the entity.

7 0
3 years ago
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