Homework 1. What is the purpose of life insurance? Do you think everyone needs life insurance? Explain.

Q: Required information [The following information applies to the questions displayed below.] Julie…

A: A person's total gross income less a few specific deductions is their adjusted gross income. This…

Q: You may use your financial calculator or excel for calculations but be sure to show your work (i.e.…

A: Part 1: Future Value = $400,000 Rate = 2% Time period = 18 months - 12 months = 6 months Present…

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A: Step 1: Calculate the future value of each year's tuitionThe tuition payments are made at the…

Q: Review your list of personal financial goals. For each goal, how does the U.S. Tax Code help or…

A: The U.S. tax code is a code which is made by the federal government for individuals and businesses.…

Q: How do companies account for gift cards?

A: Gift Cards Gift cards are one form of advance collection of revenues.

Q: Question Image You purchase a laptop for your child as a high school graduation gift. Your home…

A: Every good purchased attracts taxes but taxes vary from one state to another and also depends on the…

Q: Before recommending a credit line amount to seek from First Bank, determine the following: What…

A: When determining credit line amount to seek from a bank, it is important to consider a variety of…

Q: 5. The costs for postage and packaging are examples of what type of expense?

A: The costs for postage and packaging are examples of "operating expenses" or "operating costs"."

Q: Statement of Earnings Sales revenue Cost of sales Gross margin Operating expenses and interest…

A: Comparision of financial statements of 2 or more years is helpful to the management to make correct…

Q: Molly is preparing a balance sheet for her pet long-established traditions, she lists items on

A: 1.   The right answer is option c . original cost minus accumulated depreciation.   Explanation This…

Q: how much must you donate now if the fund earns interest at a rate of 4% per year? Show your hand…

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Can Olivia and Anthony Afford This Home Using the Monthly Income Loan Criterion? Next week, your…

A: Here,  Monthly Income is $125,000 Current (pre mortgage) installment loan, credit card, and car loan…

Q: Po. 379 #1* 1 Which of the following represents financially responsible actions? L Spending within…

A: Answer 1   1. Spending within your Means : it states that less spend on unnecessary things and…

Q: Terms 1. Accounts receivable 2. Other receivables 3. Debtor 4. Notes receivable 5. Maturity date 6.…

A: Account ReceivableAccounts receivable (AR) is an item in the general ledger ( GL) that shows money…

Q: Ms Maryam is a student, she paid to security deposit in college of OMR 1000. How the security…

A: Ms. Maryam, a student who paid to security deposit in college of OMR 1000. The same shall be…

Q: 18. Which one of the following items is classified as an investing activity? O A. Receipts of cash…

A: Investing activities refers to the purchase and sale of long-term assets and other business…

Q: Your friend Binna has a money market mutual fund​ account, automatic deposit of her paycheck into…

A: The objective of the question is to understand the benefits of using multiple financial institutions…

Q: any el Ahuehuete, S.A., shows you the data of the credit applicants. Without knowing the rules and…

A: Giving credits to clients require analysis of income and expenses and depending on that credit may…

Q: When you graduate from college, your mother plans to give you a gift of $40,000 to start you on your…

A: Present value of lum sum = Amount receivable in future * PV $1 (r, n) Present value of annual…

Q: Explain the definition of financial value.

A: Financial management is the process, creation, and research of finances and capital investment. It…

Q: Describe the 5 C's of credit. What is the most important action to building your character, one of…

A: Credit:- A credit is an agreement or trust between an lender and borrower in which an lender gave…

Q: Debit Cash Credit Other Financing Sources What does this journal entry mean?

A: The meanings  of different journal entries are presented hereunder :

Q: Concept Review 3.4- Future Value of a Tax Savings Please turn to page 152 of the text and complete…

A: How muche is taxes saving for current year?

Q: Prepare the jourmal entry to record income tax epense deferred inceme taes. and inceme taes payable…

A: According to standard business accounting rules, the tax expense is the amount that an individual…

Q: Instructions The Bainter family is moving to a new town and needs a place to live. The Bainters are…

A: Monthly rent for 1st years =900 per month

Q: Problem #5 Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of…

A: SOLUTION-   WAGE METHOD TABLE FOR INCOME TAX WITHHOLDING FOR MARRIED , 2 ALLOWANCE- WAGES…

Q: You pay your business phone bill paying cash. How would you record this transaction? * O Debit Bank,…

A: A business phone bill is an expense account. Expense accounts have a nominal debit balance. When the…

Q: Which of the following credit card options would be the MOST difficult to get approved while in the…

A: Co-signed card is type of card in which 2 individuals hold the card joint like a joint bank account…

Q: 2. Calculating Security Deposit Interest. Many locations require that renters be paid interest on…

A: The conceptual formula to be utilized:

Q: Discuss 5 areas in life where your credit score could be checked and thus impact the purchase/event

A: Credit score is a number ranging between  300 to 850 . Credit score of  300 indicates poor rating…

Q: Your older sister, Anna is trying to figure out how she's going to pay for college in the Fall. Anna…

A: Here we will provide the best advice to Anna related to the concern of her college fees and will let…

Q: 4) Describe the difference between a hard inquiry and a soft inquiry. Give an example of each and…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…