The cost of credit for this loan is $134.97.
What is the cost of credit?The cost of credit represents the difference between the total payments made and the original mortgage value.
It is also called the finance charge.
Data and Calculations:Purchase price = $1,261.60
Sales tax = 7% or $88.31 ($1,261.60)
Monthly instalment = $123.74
Payment period = 12 months
Total payment for 12 months = $1,484.88 ($123.74 x 12)
Cost of credit = $134.97 ($1,484.88 - $1,261.60 - $88.31)
Thus, the cost of credit for this loan is $134.97.
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Suppose your firm is considering investing in a project with the cash flows shown as follows, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistic for the project are three and three and a half years, respectively. Time 0 1 2 3 4 5 Cash Flow −100,000 30,000 45,000 55,000 30,000 10,000 Use the PI decision rule to evaluate this project; should it be accepted or rejected?
The profitability index decision rule of the project equals 2.45 year and thus, the project should be accept to be embarked on.
What is a profitability index?The rule refers to a decision-making exercise that helps to evaluate whether to proceed with a project based on its profitability.
Hence, because the profitability index decision rule of the project equals 2.45 year and thus, the project should be accept to be embarked on.
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What is one of the monetary benefits of attending college?
OA. The ability to choose a satisfying job
OB. Improved quality of life
OC. Increased earning potential in the future
O D. Missed opportunities to earn income
The correct option is C. Increased earning potential in the future. According to many education providers, increased earning potential in the future is one of the monetary benefits of attending college.
Although other benefits listed constitute part of the benefits of attending college but in terms of those that provide only "monetary benefit". Many education providers list increased earning potential at the top of their list among the monetary benefits of attending college. Based on this general consensus, we can conclude that option C is the most correct option.
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Joyce Kleeper entered into a contract with Elmer Coss to purchase a 50‑acre parcel of land in order to construct a modern planned community. The agreement was formally executed with the understanding that performance was to be contingent upon anticipated zoning changes in the area under consideration. When the zoning changes did not occur, Keeper refused to finalize the purchase. Coss sued to force performance. Can Coss prevail?
Yes, Coss can prevail, this is because even while it was understood that performance would be subject to zoning changes, it wasn't expressly stated in the contract and wasn't a requirement.
What is the legal agreement?A legal agreement is basically a method for the determination that specifies out the roles and obligations of each party to the agreement. The written document becomes enforceable once it has been manually, digitally, or electronically signed.
Thus, This is because even while it was understood that performance would be subject to zoning changes,
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which of the following accounts is an equity?
company truck
prepaid advertising
common truck
accounts payable
An account which is an example of an equity is: C. common stock.
What is an equity account?An equity account can be defined as a financial portrayal of ownership interests in a business firm, which may come from the business's earnings or payments made by stockholders and owners such as:
Preferred stockContributed surplusAdditional paid-in capitalRetained earningsTreasury stockCommon stockThis ultimately implies that, common stock is an account which is an example of an equity.
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Jones signed his paycheck and gave it to his wife Kayla to cash. Kayla is now a/an A. payee B. payor C. endorser D. bearer
Jones signed his paycheck and gave it to his wife Kayla to cash. Kayla is now payee.
Who is a payee?A payee is defined as the person who receives money from another party in a financial exchange. A payee is a person to whom payment is being made.
In the above scenario, Kayla is the payee because she went to cash in the check.
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Suppose that the required reserve ratio is 10 percent and you withdraw $25,000 from Comerica Bank.
What is the deposit multiplier?
What is the total decrease in deposits in the banking system?
What is the change in the money supply?
The deposit multiplier is 10, the total decrease in deposits in the banking system is-$250,000 and the change in the money supply is -$225,000.
Money multipliera. Money multiplier:
Money multiplier= 1/Required reserve ratio
Money multiplier= 1/0.10
Money multiplier= 10
b. Change in deposit:
Change in deposit=10×-$25,000
Change in deposit=-$250,000
c. Change in money supply:
Change in money supply=-$250,000+$25,000
Change in money supply=-$225,000
Therefore the deposit multiplier is 10, the total decrease in deposits in the banking system is-$250,000 and the change in the money supply is -$225,000.
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Paman has been hired for the past 15 years by a famous millionaire, Roland who lives in Singapore to look after his durian orchard in a village in Pahang. Considering that in recent years, Roland seems to be less inquisitive about any income, profit, and loss regarding the sale of fruits from his orchard, Paman also began to act carelessly with his duties in the orchard. Unbeknownst to Roland, Paman had asked Nomy, a troubled teenager in the village to help him pick up the durians that had fallen during the recent fruit season. Paman thinks Nomy is a young man who deserves help apart from the relatively low wage asked for. Furthermore, Paman is already less able to manage Roland's orchard alone. Apparently, behind Paman's back, Nomy had acted to conspire with Ms. Kam, a middleman from Kuala Lumpur, and to collect durians from the orchard on a large scale at a much lower price than the market in silence. Finally, Paman managed to sniff out Nomy's bad deed and reported it to Roland. In your opinion, can Roland claim any damages from the actions of Paman, Nomy, and Ms. Kam? Describe Roland's rights according to aspects of Agency Law.
Roland as the principal has enforceable rights against the Agent (Paman) and the third party hired by the Agent, according to the Agency Law.
What is the Agency Law?Agency Law provides the legal basis for the relationship existing between the principal and the agent, who is appointed to act on behalf of the principal.
By Agency Law, the Agent is hired to do the principal's work, undertake transactions, and manage the principal's business.
According to the law of agency, if the agent deals with a third party on behalf of the principal, the principal can enforce their rights against both the Agent and the third party.
Thus, Roland as the principal has enforceable rights against the Agent (Paman) and the third party hired by the Agent, according to the Agency Law.
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Which of the following is an accurate description of Dave Fishwick’s model of ethical banking? Check all that apply.
Banks hiring managers with local roots
Lending decisions made based on personal knowledge of the local situation
Banks attracting as many deposits as possible to purchase financial instruments
Banks linking local savers with small and medium-sized enterprises in need of finance
Description of Dave Fishwick’s model of ethical banking includes-
(a) Lending decisions made based on personal knowledge of the local situation
(c) Banks linking local savers with small and medium-sized enterprises in need of finance.
What are banks?Banks are the financial institutions that help in depositing and withdrawing money. They also help individuals to borrow funds at some interest rate for their investment.
The goal of Fishwick's strategy is to connect local individuals with small and medium-sized businesses in need of financing. It is operated by a local bank manager who bases lending choices on extensive specific experience.
Therefore, options A and C include the ethics which nowadays banks are focused on despite attracting as many deposits as possible to purchase financial instruments.
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FIFO Perpetual Inventory
The beginning inventory, at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows:
Number
of Units
Date
1
Apr. 3
8
11
30
May 8
10
19
28
June 5
16
21
28
Required:
Transaction
Inventory
Purchase
Sale
Sale
Purchase
Sale
Sale
Purchase
Sale
Sale
Purchase
Sale
Record the inventon purch cor
66
132
88
55
110
66
33
110
66
88
198
99
Per Unit
$225
270
750
750
300
750
750
330
790
790
360
790
Total
$14,850
35,640
66,000
41,250
33,000
49,500
24,750
36,300
52,140
69,520
71,280
78,210
1. The total sales and cost of goods sold for the period are $381,370 and $147,510, respectively.
2. The gross profit from sales for the period is $233,860.
3. The ending inventory cost as of June 30 is $43,560.
How are the amounts determined using the FIFO method?The total sales can be computed by summing the sales units and dollars.
The cost of goods sold is the difference between the cost of goods available for sale and the ending inventory.
The gross profit is the difference between the sales revenue and the cost of goods sold.
The ending inventory is determined as the product of units in the ending inventory multiplied by the purchase cost per unit.
Data and Calculations:Date Transaction Number of Units Per Unit Total
Apr. 3 Inventory 66 $225 $14,850
8 Purchase 132 270 35,640
11 Sale 88 750 66,000
30 Sale 55 750 41,250
May 8 Purchase 110 300 33,000
10 Sale 66 750 49,500
19 Sale 33 750 24,750
28 Purchase 110 330 36,300
June 5 Sale 66 790 52,140
16 Sale 88 790 69,520
21 Purchase 198 360 71,280
28 Sale 99 790 78,210
1. Determination of the total sales and the total cost of goods sold for the period.
Total Sales:Apr. 11 Sale 88 750 66,000
30 Sale 55 750 41,250
May 10 Sale 66 750 49,500
19 Sale 33 750 24,750
June 5 Sale 66 790 52,140
16 Sale 88 790 69,520
28 Sale 99 790 78,210
Total sales 495 $381,370
Cost of sales:Cost of Goods Sold = Cost of goods available for sale minus ending inventory
= $147,510 ($191,070 - $43,560)
2. Determination of the gross profit from sales for the period.
Gross profit = $233,860 ($381,370 - $147,510)
3. Determination of the ending inventory cost as of June 30.
Ending inventory = $43,560 (121 x $360)
Apr. 3 Inventory 66 $225 $14,850
8 Purchase 132 270 35,640
May 8 Purchase 110 300 33,000
28 Purchase 110 330 36,300
21 Purchase 198 360 71,280
Goods available for sale 616 $191,070
Ending inventory 121 (616 - 495)
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The _____ model is a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary objective is to maximize profits
a.
stakeholder
b.
customer
c.
ethical
d.
philanthropic
e.
shareholder
The shareholder model refers to a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary goal is to maximize profits. Hence, Option E is the correct statement.
What is the theory of shareholder model?An influential view of the role of commercial enterprise in society that pushes the concept that the simplest duty of managers is to serve withinside the great viable manner the interests of shareholders, the use of the sources of the company to grow the wealth of the latter via way of means of in search of profits is referred to as Shareholder concept.
Hence, The shareholder model refers to a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary goal is to maximize profits. Hence, Option E is the correct statement.
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Decision Point: Deciding on Your Simple Structure
Julia, who has been with The Ayes Have It from the beginning, approaches as you are packing up your paperwork from the desk in your old office. "The new place is going to be really posh, compared to this," she muses. You nod agreeably. "I guess it will change things between us. Not that things haven't changed already."
You wince as you remember how you dated in college and broke off your engagement last year after you'd accepted her marriage proposal. At the time she was nice about it, but she has never managed to be as kind to you since you started dating her friend.
She says, "I never understood--are we business partners, or am I your employee? What about the others, are they partners or employees?”
You always thought you had a simple structure at your company. In a simple structure, who would report to you?
A. Humberto. He has been marketing the software but also handles some of the accounting functions.
B. Julia. She manages the office temporary workers you've hired and otherwise works on marketing brochures. She also helps with software improvements and customer service.
C. Chin. She has been the official finance/budgeting person, primarily because she handles the banking.
D. Luiz. He has been dubbed "the traveler" for his constant trips overseas to market the software, but as an IT genius he was instrumental in helping develop the software.
The person that would report to you would be B. Julia. She manages the office temporary workers you've hired and otherwise works on marketing brochures. She also helps with software improvements and customer service.
What is a Business Structure?This refers to the hierarchies in place that shows the chain of command for ease of business and access.
Hence, we can see that based on the fact that Julia manages the workers, she is responsible for collecting reports from others and then reporting directly to you.
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When making keep or replace decisions, management should consider the: (Check all that apply.)
sale of the existing equipment
variable manufacturing cost of the new equipment
original cost of the existing equipment
variable manufacturing cost of the existing equipment
book value of the existing equipment
When making keep or replace decisions, management should consider the:
A. sale of the existing equipmentB. variable manufacturing cost of the new equipmentE. book value of the existing equipmentWhat is Book Keeping?This refers to the record that is kept about existing equipment or goods that states their current conditions.
Hence, we can see that it is with the knowledge of book keeping and the information inside that would guide to make the best decisions about keeping or replacing them and options A, B and E are correct.
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Answer:
variable manufacturing cost of the new equipment
sale of the existing equipment
variable manufacturing cost of the existing equipment
Explanation:
wrong answer above
1. a) List the three tools of monetary policy. No need to explain.
b) Explain clearly how each tool listed is used to fight inflation.
Answer:
the fad has traditional use 3 tools to conduct monetary policy reserve requirements the discount rate and open market operation
What are the main attractions and limitations of the comparator approach in valuation?
The main attractions of the comparator approach in valuation is the ability to compare prices of commodity and the limitation is lack of access to financial details of the company close by.
What is comparator approach in valuation?The approach is used to compare sales of similar goods in a particular location.
The analysis is done for goods that are sold within a period of time that is not too far from each other
The main attractions of comparator approach in valuation?It is useful in comparing prices and monitoring trends of goods sold.It uses a company financial information and it can be used to understudy a competitor.The main limitations of comparator approach in valuation?It requires financial information for other company which may not be easily accessible.Learn more on comparator approach below
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what is the acronym for the rainbow
Answer:
roygbiv
Explanation:
roygbiv
Answer:
the rainbow symbolizes God’s glory the radiance of his beauty, holiness, and perfection Like the appearance of the bow that is in the cloud on the day of rain, so was the appearance of the brightness all around. Such was the appearance of the likeness of the glory of the Lord.
Which of the following is an example of investing activity
The sentence that is an example of investing activity is option A. Prepayment of a contract. Hence, the correct answer is option A. Read below about investing activity.
What is an investing activity?Investing activities include purchases of physical assets, investments in securities, or the sale of securities or assets. Negative cash flow from investing activities might not be a bad sign if management is investing in the long-term health of the company.
Therefore, the correct answer is as given above
The complete question goes thus:
Which of the following is an example of an investing activity?
A. Prepayment of a contract
B. Purchase of machinery
C. Repayment of long term debt
D. Issuance of shares
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Employees often attend trainings and read policies. They endure these, but do not internalize them. What should be your first step in getting your employees to appreciate the importance of data privacy?
The first step in getting employees to appreciate the importance of during the orientation process, the employee receives training in a variety of topics, including data privacy and the protection of personal information.
What is data privacy?
The area of data management that deals with treating personal data in accordance with privacy laws, rules, and industry best practices is known as “data privacy.”
Prior to accessing systems containing personal data, a new employee should have at least a basic understanding of personal data.
Maintaining a culture of personal data protection within the organization, including health data, biometric data, criminal convictions, and security measures data, will depend in large part on keeping employee awareness levels at the greatest possible level.
Hence, the significance of the data privacy is aforementioned.
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Hat Tricks Company (HTC) is a Buffalo, New York, manufacturer of hats and gloves. Recently, the company purchased a new machine to aid in producing the hat product lines. Production efficiency on the new machine increases with the workforce experience. It has been shown that as cumulative output on the new machine increases, average labor time per unit decreases up to the production of at least 3,200 units. As HTC’s cumulative output doubles from a base of 100 units produced, the cumulative average labor time per unit declines by a learning rate of 80%. HTC has developed a new style of men’s hat to be produced on the new machine. One hundred of these hats can be produced in a total of 20 labor hours. All other direct costs to produce each hat are $19 per hat, excluding direct labor cost. Direct labor cost per hour is $60. Fixed costs are $8,000 per month, and HTC has the capacity to produce 3,200 hats per month.
The selling price per hat is mathematically given as
S=$62
What is the selling price per hat?Compensation of Workers =20hr*60$/hour = $1200
Assorted Direct Expenditures =100hats*19$/hat = $1900
Hence,Total Direct cost. = $1200+$1900
Total Direct cost.= $3100
The selling price is 200% of the Direct production cost
$3100*200% = $6200
The selling price per hat = $6200 / 100hats
The selling price per hat = $62
In conclusion, The selling price per hat = is $62
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1. What is the relationship between forward rates and the market’s expectation of future short rates? Explain in the context of both the expectations hypothesis and the liquidity preference theory of the term structure of interest rates.
Through the expectations hypothesis and the liquidity preference theory of the term structure of interest rates, liquidity must be zero for the forward rate to be equal to the expectations of future short rates.
What is expectation theory?Corresponds to a forecast of short-term interest rates by analyzing them against current long-term interest rates.
Therefore, it is a theory used to assist in better understanding and forecasting short-term securities trading in the future.
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reducing accounts in chart of accounts
Answer:
Reducing the Chart of Accounts It may be possible to drastically shrink the number of expense accounts in use. In particular, consider using just the following mega-accounts: Direct costs. This account will probably contain the cost of materials and supplies used in the production process, as well as freight costs, and not a great deal more.
Explanation:
if a company wants to compete on flexibility, what do they need to do?
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Original Question: if a company wants to compete on flexibility, what do they need to do?
Answer:
They need to be openminded and flexible to change. Part of flexibility comes from the fact that the company can survive in any circumstance. However every circumstance requires different things and thus the company must adapt fast enough to surviveLearn about their team members, because by understanding what makes them the most productive, you can change the team schedule by allowing for them to work at their leisure while maximizing the outputSet more breaks. By setting more breaks, you are being flexibile with your workers by understanding that they are human. By doing so, you also increase productivity as workers are well-restedEncourage the employees to pursue their hobbies. This is a form of flexibility as you ask your employee to not only focus on their job, but other life interest. By doing so, the employee might feel gratified by the company's doings, and be more willing to workHope that helps!
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Bill wants to attend a college with a current tuition of $10,000 a year. He will graduate from high school in five years. Roughly how much will Bill need to save for one-year's tuition to account for an
annual rate of inflation of 3%?
$638.30
O $667.50
O $656.50
O $633.30
Bill need to save $11,592 for one-year's tuition to account for an annual rate of inflation of 3%.
The option is not listed above.
To compute for future Value the formula is given below;FV = Present value(PV) × (1 + rate of interest)^time period
pv= $10,000
rate of interest= 3% = 3/100 = 0.03
time = 5years
FV= $10000× (1+0.03) ^5
FV= 10000× 1.1592
FV= $11,592.7
Therefore, Bill need to save $11,592 for one-year's tuition to account for an
annual rate of inflation of 3%.
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In alphabetical order below are balance sheet items for Karol Company at December 31, 2022.
Some contents of a balance sheet are:
Accounts payableAccounts receivableCashCommon stockRetained earnings, etc.What is a Balance Sheet?This refers to the financial statements that make a report on a company's assets and liabilities and their shareholder equity.
The uses of a balance sheet are:
To explain the financial position of a company at a particular timeTo evaluate a businessTo identify possible issuance of dividends.Please note that your question is incomplete so I gave you a general overview of what a balance sheet is, its contents and other relevant information.
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Mrs. Tanner is enrolled in a Medicare Advantage HMO that offers a point of service option. This allows Mrs. Tanner to do which of the following?
Mrs. Tanner is enrolled in a Medicare Advantage HMO that offers a point of service option. If Mrs. Tanner needs particular medical care, she may see a doctor outside of her insurance plan without having to get prior clearance. This is further explained below.
What is Medicare Advantage HMO?Generally, Healthcare costs for visits to physicians and other medical professionals are covered under Medicare Advantage HMO plans.
In conclusion, Mrs. Tanner has a point-of-service option via her Medicare Advantage HMO. Mrs. Tanner is allowed to visit a doctor outside of her insurance network if she has a special medical need.
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Assume that markup is based on selling price. Calculate the cost and selling price.
Dollar markup $4.00
Percent markup on selling price 20.00%
Cost and selling price?
The cost price is $20.
The selling price is $24.
What is the cost price and selling price?When the price of an item is marked up, it means that the price of the item has been increased.
Cost price = dollar mark up / percent dollar mark up
4/0.2 = $29
Selling price = (1.20 x 20) = $24
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Typically, life insurance policies are incontestable after a specific amount of time, usually one or two years. Following this time period, insurance companies cannot contest the validity of the policy, unless premiums were not paid. Does this encourage people to hide facts from insurance companies during the two year waiting period? if so, is this ethical?
Select a local business that doesn’t seem to be thriving. Develop a set of recommendations for how that business could use technology to build its clientele. If possible, present recommendations to the business owner or manager.
A local business that doesn't seem to be thriving should analyze its planning to identify marketing strategies to create value and attract customers.
How to develop an effective marketing strategy?It is necessary that there is an analysis of the micro and macro environment in which the company is inserted, identifying the needs and desires of consumers, the company's competitive strengths and differentials, to generate value and positioning in the market.
Therefore, it is essential that the company uses the marketing mix and other tools such as SWOT analysis to assist in the strategic direction that will lead it to be successful.
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Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows:
M1 M2 B1 Total
Units produced 25,400 13,700 10,000 49,100
Allocated joint costs ? ? ? $ 375,000
Sales value at split-off $ 402,000 $ 268,000 $ 91,000 $ 761,000
Required:
Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.)
The joint cost allocated to product M1 using the net realizable value method is $198,095.
What is the joint cost?Joint costs refer to the common production costs (direct materials, direct labor, and overheads) incurred to produce two or more products during the same process.
Based on this, the different products have a common costs that should be allocated based on some criteria.
Data and Calculations:M1 M2 B1 Total
Units produced 25,400 13,700 10,000 49,100
Allocated joint costs ? ? ? $ 375,000
Sales value at split-off $ 402,000 $ 268,000 $ 91,000 $ 761,000
Joint cost of M1 using the net realizable value = $198,095 ($402,000/$761,000 x $375,000)
Thus, the joint cost allocated to product M1 using the net realizable value is $198,095.
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Which of the following is true regarding a market value adjusted annuity?
Answer:
A tool used by an annuity issuer to reduce its exposure to interest rate risk
Is It Possible To Be An Exterminator If Your Scared Of Every Known Bug, insect Or Termite Known To Man Kind Like (Ants,Bees,Bed Bugs, Butterflies,Caterpillars Cockroach, Grasshoppers, Mosquitoes,Ladybugs,Spiders,ETC)
Answer:
Well it depends on the person. Are you scared of seeing bugs or scared of even thinking or knowing about them. If you are a truly scared I would suggest not becoming an exterminator.
If its just a general fear of insects you can give the job a try, since most exterminators don't come in direct contact with insects you will rather be spraying or preventing the insects to come in the first place.
Answer:
It may be possible, to over come your fear doing that job. But I would not recommend it because if you are freaking out about bugs all the time, you wont be able to do your job to the full potential and in fact they might hire you in the first place.
Explanation: