Brian took eight years to pay off his $71,900 loan. The loan had an interest rate of 8.16%, compounded quarterly. If Brian paid quarterly and made the same payment every time, how much was each payment that he made?
Q: Fifo
A: Hello student! First-in, First-out (FIFO) states that the cost of the units sold would be based on…
Q: SunDial Inc. uses the retail inventory method and has the following information available concerning…
A: The first step in the retail inventory method is to calculate the cost-to-retail ratio. This ratio…
Q: Vijay Company reports the following information regarding its production costs. Direct materials…
A: Step 1: Identify direct materials cost per unit.Step 2: Identify direct labor cost per unit.Step 3:…
Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…
A: Here ia an explain of the calculation in detail: 1. Calculate Mihwah's average tax rate: Total…
Q: None
A: We will make use of Total Liabilities and Equity as Total Assets using the accounting equation,…
Q: Determine the labor rate variance
A: Step 1: Definition of Labor Variance:The direct labor variance consists of two components, namely,…
Q: you are required to explain what a budget is and the stages of the budgetary cycle. (9 marks) b) In…
A: Above provides a clear understanding of budgeting and its crucial components in ensuring effective…
Q: If you give me wrong answer, I will give you unhelpful rate
A: To calculate the cost of goods sold (COGS) using the lower-of-cost-or-market (LCM) rule, we first…
Q: Financial information follows for four different companies: Apple Inc. Banana Corp. Cherry…
A: Explanation: The following formulas will be used in the calculations for the missing amounts:Net…
Q: what does a financial statement most contain?
A: A financial statement is a formal record of the financial activities of a business, person, or other…
Q: Business 123 Introduction to Investments May I have an expert please analyze and compare and…
A: Conclusion:Comparing financial ratios such as P/E, D/E, ROE, current ratio, and earnings growth rate…
Q: The Inn charges a room rate of $180 per night. The variable costs per room are estimatedto be $60…
A: Part 1: Computation of break-even point in rooms by using the following method:Break-even RoomsSales…
Q: Braxton Technologies, Inc., constructed a conveyor for A&G Warehousers that was completed and ready…
A: Step-by-Step Solution for Requirement 5 (Amortization Schedule) Step 1: Understand the Problem You…
Q: A comparative balance sheet for Pina Corporation is presented as follows. December 31 Assets 2025…
A: Step 1:The current cash debt coverage ratio is calculated as follows: Current cash debt coverage…
Q: Shown below is an income statement for 2025 that was prepared by a poorly trained bookkeeper of…
A: Step 1:The multi-step income statement is prepared as follows: Formula table: Result of the above…
Q: Need experts solution only, Don't use AI.
A: Step 1: Identify the Sale Transaction On May 1, X-Mart sold merchandise on credit for $1,400. The…
Q: not use ai please
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Waveney DIY Centers (WDC) operates a few dozen stores in the eastern United States. The stores are…
A: Step 1:a. The fixed cost and variable cost per unit using the high-low method is calculated as…
Q: None
A: A. Recognized gain/loss= Selling price - Adjusted basis= 13,000 - 22,000=(9,000)B. A. Recognized…
Q: want answer please provide
A: Step 1: Define Operating Cash Flow:There are various ways in which operating cash flow can be…
Q: I need help trying to find the dividend and capital gain.
A: Total redemption amount: 1,000 shares × $25,000 per share = $25,000,000Muhammad's tax basis: 1,000…
Q: please solve this one
A: To calculate the cost of goods sold (COGS) under a periodic inventory system, we use the following…
Q: Use the following data to find the total direct labor cost variance if the company produced 3,700…
A: First problem: Direct labor cost variance = (Actual rate x Actual hours) - (Standard rate x Standard…
Q: Only correct answer will get helpful rate
A: Journal Entry for the Purchase of Office Equipment of ABC CompanyOn March 15, 2024, ABC Company…
Q: Only expert tutor give me answer
A: Step 1: Identify the ErrorPepsiCo incorrectly recorded the purchase of equipment (worth $2.3…
Q: General accounting
A: Question: 1Explanation of Total Assets:Total assets refer to everything of value that a company owns…
Q: KELLOGG COMPANY, A LEADING CEREAL MANUFACTURER, IS CONSIDERING IMPLEMENTING A JUST-IN-TIME (JIT)…
A: Explanation of Net Present Value (NPV):NPV is the difference between the present value of cash…
Q: ljm
A: Step 1: Step 2: Step 3: Step 4:
Q: Rand Company’s payroll on December 31 of the current year is as follows: • total payroll,…
A: Let's prepare the journal entries for Rand's payroll and payroll taxes step by step. We'll calculate…
Q: Give me Accurate answer only otherwise I will report
A: Explanation of Depreciation:Depreciation is the process of allocating the cost of a tangible fixed…
Q: Financial accounting
A: Step 1: Calculation of gross profit.Given,Sale price = $900Cost of camera sold = $500Gross profit =…
Q: 1- Review the annual report and critically analyse the accounting policies and principles adopted by…
A: Step 1:To answer this question you need to keep in mind IAS 38's definition of Intangible asset…
Q: `im.3 answer must be in table format or i will give down vote
A: First, we start with the net income of Vaughn Ltd. for the year 2022, which is HK$178,180.
Q: None
A: Step 1: Determine the Purchase Price for FranzAtwood issued 50 shares of its common stock.The fair…
Q: Procter & Gamble (P&G) recently acquired a small personal care products company for $50 million. The…
A: Question 1: Explanation of Purchase Price:The purchase price is the total amount paid by the…
Q: 24 2024 Question 6 (Marks:20) The following Information relates to the accounting records of Mr Tem…
A: Q.6.1 Purchases Account (Periodic Inventory System)Step 1: Opening BalanceValue: R 210,000This…
Q: Consider the Classified Balance Sheet... The following categories are reflected on the classified…
A: The classified balance sheet organizes assets and liabilities into specific categories to present…
Q: Business 123 Introduction to Investments May I please have the Gordon Growth Discount Model used…
A: To apply the Gordon Growth Model and Discounted Cash Flow Model, we'll need to make some assumptions…
Q: Need answer please
A: Approach to solving the question: Analyze the question. Detailed explanation:To calculate Jorge's…
Q: Use the following information to prepare a trial balance. Cash Deferred revenue Prepaid insurance…
A: Explanation:Assets (Cash, Prepaid Insurance, Accounts Receivable) are debited.Expenses (Utilities,…
Q: Need help please don't use ai
A: Step 1: Define Debt-to-Equity RatioThe debt-to-equity ratio is the ratio between total debts and…
Q: NEED Help with this Question
A: Step 1: Step 2: Step 3: Step 4:
Q: General accounting
A: Explanation of Commission IncomeA commission is a fee earned by a business or individual for…
Q: Following are the Individual financial statements for Gibson and Davis for the year ending December…
A: Question 1: Prepare a consolidated Income Statement for the year ending December 31, 2024.Answer…
Q: 3
A: To determine the adjustment needed for the company books, let's evaluate the given information…
Q: The cost of the trading securities of Cepeda Company at December 31, 2011, is $62,000. At December…
A: Explanation of Adjusting EntryAn adjusting entry is a journal entry made at the end of an accounting…
Q: Hello tutor give correct answer
A: Step 1: Define Variable costIt refers to the part of total cost of an entity which fluctuates with…
Q: The Production Department of Hruska Corporation has submitted the following forecast of units to be…
A:
Q: Don't Use AI
A: 1. Initially, the operating expense was overstated by $2.3 million, which is the cost of the…
Q: Kindly answer this correctly Revenues are normally recognized when a company transfers promised…
A: The expense account title and the amount incurred in January for each transaction are as follows:a.…
Step by step
Solved in 2 steps
- Please Need helpc. By how much will the amortization period shorten if Shawn made an extra payment of $54,000 at the end of the year 3? years E months Express the answer in years and months, rounded to the next monthVincent received a loan of $8,100 at 5.50% compounded monthly. He settled the loan by making periodic payments at the end of every three months for 5 years, with the first payment made 2 years and 3 months from now. What was the size of the periodic payments?
- Devin received a 15 year loan of $305,000 to purchase a house. The interest rate on the loan was 4.10% compounded semi-annually. a. What is the size of the monthly loan payment? Round to the nearest cent b. What is the balance of the loan at the end of year 4? Round to the nearest centIf Marc obtained a business loan of $225,000 at 4.77% compounded semi-annually, how much should he pay at the end of every 6 months to clear the loan in 15 years?Prisha received a loan of $8,100 at 5.25% compounded monthly. He settled the loan by making periodic payments at the end of every three months for 6 years, with the first payment made 3 years and 3 months from now. What was the size of the periodic payments? $ 0.00 Round to the nearest cent
- Jason received a 30 year loan of $290,000 to purchase a house. The interest rate on the loan was 2.80% compounded semi-annually. a. What is the size of the monthly loan payment? Round to the nearest cent b. What is the balance of the loan at the end of year 3?John received a loan of $40,500, 6 years ago. The interest rate charged on the loan was 4.68% compounded quarterly for the first 6 months, 5.46% compounded semi-annually for the next 2 years, and 5.88% compounded monthly thereafter. a. Calculate the accumulated value of the loan at the end of the first 6 months. Round to the nearest cent b. Calculate the accumulated value of the loan at the end of the next 2 year period. Round to the nearest cent c. Calculate the accumulated value of the loan today. Round to the nearest cent d. Calculate the amount of interest charged on this loan over the past 6 years. jamie wants to double his money in 9 years in an investment fund. What quarterly compounding interest rate do you suggest that he looks for?Josiah took out a 25-year loanfor $215,000 at 9.6% interest,compounded monthly. If hismonthly payment on the loan is$1893.41, how much of his firstpayment went toward notereduction?
- Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?Tom Bond borrowed $6,200 at 6,% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = S (Round to the nearest cent as needed.)Jimmy paid off a mortgage by paying $700 per month for 12 years. What was the original amount of the mortgage if the interest rate charged was 4.30% compounded semi-annually? Round to the nearest cent