How is a loan obtained through a pawnshop typically paid off?
Answer:
B. In a single payment, and the collateral is returned
Multiple-choices
A. In multiple payments, and collateral is retuned
B. In a single payment, and the collateral is returned.
C. The lender sells the item to pay off the interest.
D. The lender cashes a postdated check.
Explanation:
A pawn-loan is a credit facility based on collateral provided. Pawnshop issues pawn-loans without any credit history checking. The borrower presents an item of value, either jewelry, electronics, mobile gadgets, or other items resellable to other customers.
A pawnshop typically issues short term loans. The credit period is mostly 30 days. The borrower is should to repay the loan amount plus interest by end of month to redeem their collateral. Due to the short credit period and the high risk of lending, pawnshops do not usually allow installment repayments.
Question 1 of 10
What is one way banks can recover money they have loaned to someone who
has stopped making payments?
O A. Banks can require the borrower's friends and family to pay off the
loan.
B. Banks can have collection agencies seize part of the borrower's
income.
C. Banks can force the borrower's employer to fire him or her
immediately
D. Banks can make the borrower work at the bank for no salary.
Answer:
B. Banks can have collection agencies seize part of the borrower's income.
Explanation:
Hope it helps
Banks can recover money they have loaned to someone who has stopped making payments the banks can have collection agencies seize part of the borrower's income. Thus, option (b) is correct.
What is bank?
The term Bank refers to a financial institution that deals with money. For the aim of saving and investing, the individual deposits money into a personal account. Additionally, banks can offer loans and ATM services. There are two different kinds of banks, such as public and private ones.
The debtors give the loan to the bank, but as long as someone is not returned on payment, the bank can hire collection agencies. The collection agencies' main role is to collect money with interest from debtors.
Therefore, option (b) is correct.
Learn more about on banks, here:
https://brainly.com/question/14042269
#SPJ5
An actor invests some money at %, and $ more than the amount at The total annual interest earned from the investment is $. How much did he invest at each amount? Use the six-step method.
no lo se xd pero solo se que hoka
On November 19, Hayes Company receives a $15,000, 60-day, 10% note from a customer as payment on his account. What adjusting entry should be made on the December 31 year-end?
A) Debit Interest Receivable $175; credit Interest Revenue $175.
B) Debit Interest Receivable $250; credit Interest Revenue $250.
C) Debit Interest Receivable $75; credit Interest Revenue $75.
D) Debit Interest Revenue $175; credit Interest Receivable $175.
E) Debit Interest Revenue $250; credit Interest Receivable $250.
Answer:
A) Debit Interest Receivable $175; credit Interest Revenue $175.
Explanation:
The adjusting entry that made as on December 31 is shown below;
Interest receivable Dr $175
To Interest revenue $175
(Being the interest receivable is recorded)
The computation is shown below:
= $15,000 × 10% × 42 days ÷ 360 days
= $175
The 42 days are from November 19 to December 31
Here the interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue
The trial balance of a company included the following account balances: Cash, $25,000, Short-Term Investments, $10,000, Accounts Receivable, $40,000, Inventory, $90,000, and Prepaid Insurance, $12,000 its quick assets totat a) $35,000 b) $125,000 c) $75,000 d) $165,000 e) $50,000
Answer:
$75,000
Explanation:
The trail balance of a company include the following
Cash of $25,000
Short term investments of $10,000
Account receivable of $40,000
Inventory of $90,000
Prepaid insurance of $12,000
Therefore it's quick assets Total can be calculated as follows
=account receivable + cash + short term investments
= $40,000+$25,0000+$10,000
= $65,000+$10,000
= $75,000
An investor purchases a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interest is five percent, what is the current market value of the bond?
Answer:
Bond Price = $828.4091365 rounded off to $828.41
Explanation:
To calculate the price of the bond today, we will use the formula for the price of the bond. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,
Coupon Payment (C) = 40
Total periods (n) = 20 * 2 = 40
r or YTM = 0.05 or 5%
The formula to calculate the price of the bonds today is attached.
Bond Price = 40 * [( 1 - (1+0.05)^-40) / 0.05] + 1000 / (1+0.05)^40
Bond Price = $828.4091365 rounded off to $828.41
If Roten Rooters, Inc., has an equity multiplier of 1.63, total asset turnover of 2.50, and a profit margin of 4.3 percent, what is its ROE? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.).
ROE _________ ?? %
Answer: 17.52%
Explanation:
Equity Multiplier = 1.63
Total asset turnover = 2.50
Profit margin = 4.3%
Rate of Return = Equity Multiplier × Asset turnover × Profit margin
= 1.63 × 2.50 × 4.3%
= 1.63 × 2.50 × 0.043
= 0.175225
= 17.52% approximately
Prepare an income statement (LO1-3)
Below are the account balances for Cowboy Law Firm at the end of December.
Accounts Balances
Cash $ 5,400
Salaries expense 2,200
Accounts payable 3,400
Retained earnings 3,900
Utilities expense 1,200
Supplies 13,800
Service revenue 9,300
Common stock 6,000
Required:
Use only the appropriate accounts to prepare an income statement.
COWBOY LAW FIRM
Income Statement
For the Period Ended December 31
Expenses:
Total expenses
Answer:
$5,900
Explanation:
Preparation of an Income statement
REVENUE :
Service revenue $9,300
Less EXPENSES:
Salaries expense $2,200
Utilities expense $1,200
Total Expenses($3,400)
($2,200+$1,200)
Net income $5,900
($9,300-$3,400)
Therefore the Net income amount for the income statement will be $5,900
Last year there was no change in either the raw materials or the work in process beginning and ending inventories. However, finished goods, which had a beginning balance of $25,000, increased by $15,000. If the manufacturing costs incurred totaled $600,000 during the year, the cost of goods available for sale must have been:_______.
a. $585,000
b. $600,000
c. $610,000
d. $625,000
Answer:
d. $625,000
Explanation:
cost of goods available for sale = cost of goods manufactured during the current period + finished goods inventory at the beginning of the period
cost of goods manufactured during the current period = $600,000finished goods inventory at the beginning of the period = $25,000cost of goods available for sale = $600,000 + $25,000 = $625,000
cost of goods sold = cost of goods available for sale - ending inventory = $625,000 - $40,000 = $585,000
What is an Umbrella Policy? How does it work?
Answer:
An umbrella policy is the type of insurance that is made to additionally secure personal liability and it is necessary to have if the person is responsible for some damage made.
Explanation:
Umbrella policy not only covers the policyholder, but it also covers the members of his family. If you are responsible for the car accident, and your car is covered with the umbrella policy, they will be responsible for covering the medical expenses in case of someone getting hurt.
Discuss the relationship between competition and consumer expectations.
Answer:
The relationship between competition and consumer expectations is by what the compitition is creating in terms of product and functionability. And the consumer expectation is what will help the by buying into this product.
Explanation:
OK Dry-Cleaning advertises so effectively that the regular customers of its competitor, Purity Cleaners, patronize OK instead of Purity. This is:________ a. a lawful action that is not a tort. b. wrongful interference with a business relationship. c. appropriation. d. wrongful interference with a contractual relationship.
Answer:
a. a lawful action that is not a tort.
Explanation:
A tort refers to some wrongful act or some infringement of any right which is other than under any contract which leads to a legal liability. It is based on a civil law. People are liable for their actions taken against another both accidentally or intentionally.
In the context, the customers who is regular to Purity Cleaners tries to patronize or condescend OK Dry Cleaners instead of Purity Cleaners. This is lawful action, however not a tort.
What is HKDL’s biggest challenge in keeping employees motivated?
Answer:
before u uguihv t
Explanation:
hhgj it u 7uutui
Sean and Jenny are married, file a joint return and have two dependent children, Blake, age 9 and Jake, age 5. Sean has earned income of $72,000. Jenny was a full-time student (for nine months) with no income. They paid a qualified day care center $7,000. What amount of child and dependent care credit can Sean and Jenny receive?
a. $600.
b. $900.
c. $1,000.
d. $1,200.
Answer:
$900
Explanation:
Calculation for What amount of child and dependent care credit can both Sean and Jenny receive
Child and dependent care credit=($500 * 9 months *20 %
Child and dependent care credit=$900
Note that $500 is the standard amount while the 20% is the tax credit
Therefore the amount of child and dependent care credit can both Sean and Jenny receive will be $900
What is product positioning
Answer:
There are positioning to be brought by a client
XYZ Corporation issued 7 million shares of common stock in its initial public offering. It later purchased 500,000 shares of Treasury stock. XYZ recently engaged an underwriter to raise capital by selling an additional 3 million shares through a standby rights offering. By the expiration date of the offering, only 2 million shares were sold through exercise of the rights. As a result, how many shares will XYZ have outstanding
Answer:
The number shares XYZ will have outstanding is 8,500,000 shares.
Explanation:
Shares outstanding refers to the addition of the shares of a company that are currently held by its shareholders, the share blocks in the hands of institutional investors, and its restricted shares owned by its officers and insiders, but minus the treasury shares which are held by the company itself.
From the question, we have the following:
Number shares issued in initial public offering = 7,000,000
Treasury stock purchased = 500,000
Shares sold by the expiration date of the offering additional 3 million shares = 2,000,000
Therefore, the number of shares outstanding can be calculated as follows:
Number of shares outstanding = Number shares issued in initial public offering - Treasury stock purchased + Shares sold by the expiration date of the offering additional 3 million shares = 7,000,000 - 500,000 + 2,000,000 = 8,500,000
Therefore, the number shares XYZ will have outstanding is 8,500,000 shares.
On January 1, your company issues a 5-year bond with a face value of $10,000 and a stated interest rate of 6%. The market interest rate is 4%. The issue price of the bond was $11,016. Your company used the effective-interest method of amortization. At the end of the first year, your company should:_____.a. debit Interest Expense for $800, credit Premium on Bonds Payable for $145.00, and credit Interest Payable for $655.00.b. debit Interest Expense for $655.00 and credit Interest Payable for $655.00.c. debit Interest Expense for $655.00, debit Premium on Bonds Payable for $145.00, and credit Cash for $800.d. debit Interest Expense for $800, debit Premium on Bonds Payable for $145.00, and credit Interest Payable for $655.00.
Answer:
Debit Interest Expense $440.64, Debit Premium on Bonds Payable $159.36 and Credit Cash $600
Explanation:
Amount paid in cash = $10,000 * 6% = $600
Interest expense = $11,016 * 4% = $440.64
Amortization of premium on bonds payable = Amount paid in cash - Interest expense
Amortization of premium on bonds payable = $600 - $440.64
Amortization of premium on bonds payable = $159.36.
Debit Interest Expense $440.64
Debit Premium on Bonds Payable $159.36
Credit Cash $600
GAAP require state and local governments to include in their annual financial reports a budget-to-actual comparison showing actual results and original and final appropriated budgets. What are the advantages of requiring both the original and final appropriated budget amounts?
Answer:
The advantages of requiring both the original and final appropriated budget amounts are:
1. It enables comparison of original (static) budget with the final (flexible) budget.
2. From the comparison, management assesses performances based on actual performance versus original and final budgets respectively.
3. The significant changes based on the level of activity are easily determined.
Explanation:
The use of original and final budgets helps in the comparison with actual performance. It clearly shows the effect of the level of activity on budget performance.
A proposed new project has projected sales of $222,000, costs of $96,500, and depreciation of $26,100. The tax rate is 24 percent. Calculate operating cash flow using the four different approaches. (Do not round intermediate calculations.)A. EBIT+Depreciation-TaxesB. Top-DownC. Tax-ShieldD. Bottom-Up
Answer: See explanation
Explanation:
Sales = $222,000
Less: Cost = $96,500
Less: Depreciation = $26100
EBIT = $99400
Less: Tax = 24% × $99400 = $23856
Net income = $75544
A. EBIT+Depreciation-Taxes
EBIT = $99400
Add: Depreciation = $26100
Less: Tax = $23856
Operating cashflow = $101644
B. Top-Down
= EBIT(1 - t) + Depreciation
= $99400(1 - 0.24) + $26100
= $75544 + $26100
= $101644
C. Tax-Shield
= (Sales - Cost)(1-t) + Depreciation (t)
= ($222000 - $96500)(1 - 0.24) + $26100(0.24)
= ($125500 × 0.76) + $6264
= $95380 + $6264
= $101644
D. Bottom-Up
= Net income + Depreciation
= $75544 + $26100
= $101644
A call option has an exercise price of $150.At the option expiration date, the stock price could be either $100 or $200.Which investment would combine to give the same payoff as the stock?
A) Lend PV of $100 and buy two calls.
B) Lend PV of $100 and sell two calls.
C) Borrow $100 and buy two calls.
D) Borrow $100 and sell two calls.
Answer:
A) Lend PV of $100 and buy two calls.
Explanation:
For the option expiration date, it is mentioned that the stock price could be either $100 or $200 so it would be the final payoff either in $100 or $200
Now the lending of the present value i.e. $100 would be compulsory
So, the two calls values would be
= ($200 - $150) × 2
= 100
Total value be
= $100 + $100
= $200
Therefore the first option is correct
And all the other options are wrong
How much will Marie have in her retirement account in years if her contribution is $ per year and the annual return on the account is %? How much of this amount represents interest? The amount Marie will have is:_________
Answer:
The amount is constant so is an annuity and the value at the end of 10 years is the future value of an annuity.
Future value of annuity = Annuity * Future value interest factor of annuity, 10 years, 6%
= 7,000 * 13.1808
= $92,265.60
Value at the end of 10 years is $92,265.60.
The interest is;
= 92,265.60 - (7,000 * 10 years)
= 92,265.60 - 70,000
= $22,265.60
Spiro Corp. uses the sum-of-the-years' digits method to depreciate equipment purchased in January year 1 for $20,000. The estimated salvage value of the equipment is $2,000 and the estimated useful life is four years. What should Spiro report as the asset's carrying amount as of December 31, year 3
Answer:
Carrying value on Dec 31, Year 3= $3,800
Explanation:
Depreciable amount = Cost - Salvage Value
Depreciable amount = 20,000-2,000
Depreciable amount = $18,000
Sum of years’ digits = 1+2+3+4 = 10
Depreciation for Year 1 = 18,000*4/10 = 7,200
Depreciation for Year 2 = 18,000*3/10 = $5,400
Depreciation for Year 3 = 18,000*2/10 = $3,600
Carrying value on Dec 31, Year 3 = Purchase cost - Depreciation
Carrying value on Dec 31, Year 3 = $20,000 - $7,200 - $5,400 - $3,600
Carrying value on Dec 31, Year 3= $3,800
In the previous problem, suppose the project requires an initial investment in net working capital of $150,000, and the fixed asset will have a market value of $185,000 at the end of the project. What is the project’s Year 0 net cash flow?
Answer: See explanation
Explanation:
You didn't tell us the previous problem you are talking about but let me help out.
The project’s Year 0 net cash flow will be calculated as:
= - Initial cost in fixed assets - Net working capital
Since we already know that our net working capital is $150,000, let's assume that the initial cost in fixed assets given in your previous problem is $2,000,000.
Therefore, the project’s Year 0 net cash flow will be:
= -2,000,000 - 150,000
= -2,150,000
Roberta is taking the final course in the fourth semester of the Veterinary Technician program. When she reads the final project instructions, she realizes she wrote a paper about the same topic in one of her second-semester courses. Since she's very busy and close to finishing her degree, since the original paper got an A, she wants to submit the same paper for her final project. Can Roberta submit the same paper?
Answer:
Answer is D because using the same assignment for more than one course is a self plagiarism
2 Dollar Essay
Explanation:
Roberta was not able to submit the same paper, because if same assignment is used then it will be considered as self-plagiarism because it plagiarism. Therefore, Option C is correct.
What is self-plagiarism?When a writer who republishes the work that is already available in form of written text, that work is either done by self or by someone else is known as self-plagiarism.
In simple words, a work which is done by a student that involves some or whole of previously done work and that is also without the permission of the professors is known as plagiarism.
An image is attached at the end for better understanding.
Therefore, Option C is correct.
Learn more about plagiarism from here:
https://brainly.com/question/4428183
#SPJ2
Effective Annual Rate A loan is offered with monthly payments and a 8 percent APR. What's the loan's effective annual rate (EAR)?
Answer:
The loan's effective annual rate (EAR) is 8.30%.
Explanation:
Effective Annual Rate (EAR) can be described as an interest rate which been adjusted for compounding over particular period.
EAR therefore simply refers to the interest rate paid to an investor in a year after taking compounding into consideration.
The EAR can be computed using the following formula:
EAR = ((1 + (i / n))^n) - 1 .............................(1)
Where;
i = Annual percentage rate (APR) = 8%, or 0.08
n = Number of compounding periods or months in a year = 12
Substituting the values into equation (1), we have:
EAR = ((1 + (0.08 / 12))^12) - 1
EAR = ((1 + 0.00666666666666667)^12) - 1
EAR = 1.00666666666666667^12 - 1
EAR = 1.08299950680751 - 1
EAR = 0.08299950680751, or 8.299950680751%
Approximating to 2 decimal places, we have:
EAR = 8.30%
Therefore, the loan's effective annual rate (EAR) is 8.30%.
Larry recorded the following donations this year: $690 cash to a family in need $2,590 to a church $690 cash to a political campaign To the Salvation Army household items that originally cost $1,390 but are worth $490. What is Larry's maximum allowable charitable contribution if his AGI is $61,900?
Answer: $3080
Explanation:
Larry's maximum allowable charitable contribution if his AGI is $61,900 will be calculated as the addition of the $2,590 to a church and the worth of $490 of household items. This will be:
= $2590 + $490
= $3080
Therefore, the answer is $3080
A stock has a correlation with the market of 0.53. The standard deviation of the market is 29%, and the standard deviation of the stock is 32%. What is the stock's beta?
Answer: 0.58
Explanation:
Given the parameters in the question, Beta can be solved by the following formula;
= Correlation with market * ( Standard deviation of stock / Standard deviation of market)
= 0.53 * (32%/29%)
= 0.58
Manuel and Poornima White live in Swarthmore, PA. Poornima's father, Shen, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment spending (I), government purchases (G), exports (X), or imports (IM).
a. A product’s inclusion in one category does not necessarily imply that it is excluded from other categories.
b. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house.
c. Poornima buys a new BMW, which was assembled in Germany.
d. Shen in Sweden orders a bottle of Vermont maple syrup from the producer's website.
e. Manuel's employer upgrades all of its computer systems using U.S.-made parts.
f. Poornima gets a new video camera that was made in the United States.
Answer:
a. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house.
Identification: Government spending. This is the spending done by government in buying goods and services
b. Poornima buys a new BMW, which was assembled in Germany.
Identification: Imports. These are purchases by domestic consumers from foreign countries
c. Shen in Sweden orders a bottle of Vermont maple syrup from the producer's website.
Identification: Exports. These are purchases by foreign consumers from home countries
d. Manuel's employer upgrades all of its computer systems using U.S.-made parts.
Identification: Investment. It is a part of GDP if made in accumulation of capital and inventory
e. Poornima gets a new video camera that was made in the United States.
Identification: Consumption. This includes consumer's spending on durables and non-durable produced domestically.
What is it called when a person's behavior in the workplace creates circumstances that make it difficult for someone else of a particular sex to do his or her work?
what is the effect of a "payment on account" by the business and by the
customer
Answer:
The Effect of a "Payment on Account"
By the Business:
The payment reduces the balance of the Accounts Payable. A current liability is reduced while cash is also reduced by an equal amount.
By the Customer:
The payment reduces the balance of the Accounts Receivable. One current asset is reduced and a current asset (cash) is increased by an equal amount.
Explanation:
"Payment on account" represents settlement of liabilities by the business or the customer. When the business settles its liability, there is an outflow of cash. When a customer settles its liability to the business, there is an inflow of cash to the business.