Business

You want to buy a house that costs $140,000. You have $14,000 for a down payment, but your credit is such that mortgage companies will not lend you the required $126,000. However, the realtor persuades the seller to take a $126,000 mortgage (called a seller take-back mortgage) at a rate of 5%, provided the loan is paid off in full in 3 years. You expect to inherit $140,000 in 3 years, but right now all you have is $14,000, and you can afford to make payments of no more than $22,000 per year given your salary. (The loan would call for monthly payments, but assume end-of-year annual payments to simplify things.)Required:a. If the loan was amortized over 3 years, how large would each annual payment be? Could you afford those payments? b. If the loan was amortized over 30 years, what would each payment be? Could you afford those payments? c. To satisfy the seller, the 30-year mortgage loan would be written as a balloon note, which means that at the end of the third year, you would have to make the regular payment plus the remaining balance on the loan. What would the loan balance be at the end of Year 3, and what would the balloon payment be?
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True or False: when writing a check, it is not necessary to fill in the Memo line. *TrueFalse
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The defect rate for data entry of insurance claims at Sadegh Kazemi Insurance Co. has historically been about 1.50% This exercise contains only parts a, b, c, d, and e. a. If you wish to use a sample size of 100, the 3-sigma control limits are: UCLD (enter your response as a number between 0 and 1, rounded to three decimal places). b. what if the sample size used were 50, with 3 standard deviation? c. what if the sample size used were 100, with 2 standard deviation? d. what if the sample size used were 50, with 2 standard deviation? e. what happens to standard deviation Ap when the sample size is larger? f. explain why the lower control limits cannot be less then 0.
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Which benefit is shared by both Monopolies and Oligopolies?A. They drive down prices by competing for the same customers.B. They are highly regulated by the government groups that control them.C. They have Access to enough capital to operate in high-cost industries. D. They provide consumers with a wide range of choices for products. APEX
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Open market operations refer to which action by a central bank?A. Regulating the amount of money banks hold in reserveO B. Changing the price banks pay to borrow moneyO C. Buying and selling treasury securitiesO D. Adjusting interest rates on stock markets
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does non traditional careers for men mean job for women?and does non traditional careers for women mean job for men?
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Determine the taxable income for a firm as described here: The firm recorded revenues of $46,000 and recaptured depreciation of $2,000 for the year just ended During the year, the firm incurred cash expenses of $27,500 and depreciation expenses of $15,575.
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Mason Corporation had $650,000 in invested assets, sales of $700,000, operating income amounting to $99,000, and a desired minimum return on investment of 15%. The investment turnover for Mason Corporation is
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Find the future value of an annuity with monthly deposits of $150, made over a period of 10 years, with 5% interest compounded monthly g
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Consumer behavior is the way that forces shape people'sA. goods and servicesB. place and time utilityC. culture and societyD. activities related to buying
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The concept of demand is best described as:_____.a. the quantity of a good or a service that people are willing and able to purchase at different possible prices. b. the total satisfaction that consuming a good provides people at different prices. c. the additional satisfaction derived from a quantity of goods and services obtained when income increases. d. the quantity of a good or a service that people will offer for sale at different possible prices. e. the quantity of a good or service that consumers will substitute when the price of a good changes. The basic proposition of the law of demand is that:_____.a. higher prices cause buyers to demand more. b. buyers demand lower prices. c. higher prices cause less demand. d. as the price of a good decreases, buyers are willing and able to purchase less. e. as the price of a good increases, buyers are willing and able to purchase less. In a market economy, there is relationship between the price of a good and the amount of a good that buyers are willing and able to purchase.
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Simon has a $250,000 life insurance policy with City Life. He has had this policy for many years, and all of the premiums have been paid. He no longer needs to make any payments in order to keep the policy in effect. Simon named his brother, Leo, as the beneficiary of the policy. Leo needs $50,000. Leo knows about the insurance policy, and that it is fully paid. Rather than take out a loan, he contacts City Life and asks for $50,000 as an advance against the full amount of the policy that will be due to him. What is City Life likely to do?
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Warrix Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (3,000 units) $120,000 Variable expenses 90,000 Contribution margin 30,000 Fixed expenses 27,000 Net operating income $3,000 a. If sales increase to 3,100 units, net operating income would be closest to: ____________b. If sales increase to 3,100 units, the breakeven point in units would:_____________ c. If sales increase to 3,100 units, the degree of operating leverage would:___________
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Listed below are selected transactions of Blossom Department Store for the current year ending December 31. 1. On December 5, the store received $490 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. 2. During December, cash sales totaled $821,100, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. 3. On December 10, the store purchased for cash three delivery trucks for $110,300. The trucks were purchased in a state that applies a 5% sales tax. 4. The store determined it will cost $96,300 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Blossom estimates the fair value of the obligation at December 31 is $77,400.
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One major advantage of pure competition compared to a monopoly is that:A. More capital is available for research and development B.businesses have more incentives to keep prices lowC. Economies of scale become less important D. Consumers have to make fewer economic choices
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What's the diffrence between division manager and regional manager? please i need help i don't understand the difference.
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who is the author of "A love story and the three purple hearts?'
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Pyramid Products Company has a revolving credit agreement with its bank. The company can borrow up to $1 million under the agreement at an annual interest rate of 9 percent. Pyramid is required to maintain a 10 percent compensating balance on any funds borrowed under the agreement and to pay a 0.5 percent commitment fee on the unused portion of the credit line. Assume that Pyramid has no funds in the account at the bank that can be used to meet the compensating balance requirement. Determine the annual financing cost of borrowing each of the following amounts under the credit agreement: a. $250,000 b. $500,000 c. $1,000,000
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Statement of Cash Flows Colorado Corporation was organized at the beginning of the year, with the investment of $251,500 in cash by its stockholders. The company immediately purchased an office building for $304,900, paying $212,700 in cash and signing a three-year promissory note for the balance. Colorado signed a five-year, $60,500 promissory note at a local bank during the year and received cash in the same amount. During its first year, Colorado collected $93,970 from its customers. It paid $66,500 for inventory, $20,500 in salaries and wages, and another $4,000 in taxes. Colorado paid $6,200 in cash dividends.Required1. Prepare a statement of cash flows for the years2. What does this statement tell you that an income statement does not?
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Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information applies to the questions displayed below. The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 4,000 Accounts Receivable 9,000 Supplies 3,000 Equipment 26,000 Accumulated Depreciation$ 6,000 Accounts Payable 4,000 Utilities Payable 5,000 Deferred Revenue 0 Common Stock 18,000 Retained Earnings 9,000 Totals $ 42,000 $ 42,000 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000. 2. March 13 Collect on accounts receivable, $48,000. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $32,000. 5. September 15 Pay utilities of $5,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,000. 7. December 30 Pay $2,000 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,000. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,000.Prepare the income statement for the year ended December 31 2021.Prepare an adjusting trial balance.
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be5-4, Prepare the journal entries to record the following transactions on Novy Companys books using a perpetual inventory system. (a) On March 2, Novy Company sold $900,000 of merchandise to Opps Company, terms 2/10, n/30. The cost of the merchandise sold was $590,000. (b) On March 6, Opps Company returned $90,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $62,000. (c) On March 12, Novy Company received the balance due from Opps Company. be5-5, From the information in BE5-4, prepare the journal entries to record these trans- actions on Opps Companys books under a perpetual inventory system.
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Which of the following is the appropriate rank of sectors (from lowest to highest percentage) of the U.S. Gross Domestic Product (GDP)?agriculture, services, industryagriculture, industry, servicesindustry, agriculture, servicesservices, industry, agriculture
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cookiesamichael12345678
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Claims for future collection from customers
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