If the value of owner's equity is initially $10.000, calculate the value of owner's equity after the following transactions cash revenues $9.000prepay rent $3,000, pay bank loan principal $2.000. pay maintenance fees S4,000 and buy a computer on account for $1,000.Select onea. $13,000b. $15,000C $9,000d. $11,000

Owners equity in the business means total amount attributable to the equity shareholders in the…

Answered: If the value of owner's equity is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the information below for an individual: Home valued at $250,000 . Mortgage balance of $150,000 . Auto worth $25,000 $15,000 auto loan New household furnishings valued at $5,000 $4.500 loan for furniture ■ . Retirement account of $45,000 $1,500 in emergency savings ■ $500 in checking $1500 in a CD $15,000 credit cards balances . $500 per month for student loans; current balance is $25,000 . $100 per month gym membership Using the information above, respond to all of the following: 1. Determine this individual's net worth. Explain. 2. Identify any expenses that are not liabilities. 3. Assume this individual decides to create a budget. What are the two components of a budget? 4. Assume this individual's friend decides to pursue postsecondary education. What are two types of financial aid that the friend could apply for that do not have to be repaid? View Insert Format Tools Table . ■ Edit
what is the amount of money borrowed?
How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 8% interest compounded monthly. Question Help: Video 1 Video 2 Submit Question Search hp no H DI
Details Account A Account B Bank Name TD Bank Scotiabank TD ePremium Savings Account MomentumPLUS Savings Account Account Name Annual Interest Rate 0.500% 1.350% Compounding Interval Daily Daily 2. Use this information to answer the following questions: a) Let's say you invest $10,000 into each account. What is the final amount after 10 years? b) How much interest did you earn from each account? c) Estimate and compare how long it would take to double your $10,000 with each account. Show all your work. d) Using the information you collected, would you use either of these savings accounts long-term? Explain. e) Write a function for each bank model and compare their 'a' value, base, and exponent. Does your comparison still support your decision? Explain.
Based on the following information: Loan balance 250.00 Mortgage payment 893.00 Current value of auto 6,300 Food expenses 425.00 Saving account amount 2,100 Loan payment on stereo 75.00 Monthly take-home salary 2,750 after taxes so this is your net/ not gross Household possessions value 4,100 Balance on student loan 61,000 Electric bill paid for month 235.00 Credit card balance 280.00 Auto insurance payment 401.00 Phone payment 72.00 Cash on hand 700.00 Parking at work 80.00 Charity giving 200.00 Computer value 2,900 Jewelry value 3,800 Market value of home 114,000 Government bonds you own 500.00 Cloths bought this month 475.00 Entertainment 120.00 Credit card payment 33.00 Car loan balance 2,200 Car payment 170.00 Calculate the following… Assets Liabilities Net Worth Income Expenses Surplus/deficit
here are some of remaining questions about
Assume that all interest is simple interest. Fred started a new e-Commerce business and borrowed $14,800 for 10 years to get the business up and running. The interest is $4440. Find the rate. Round to two decimal places, if necessary. The interest rate for Fred's loan is Check 68°F Clear #3 $ A IOI WER %. 5 T 6 X ● Search & 7 S U * 8 9 f10 Save For Later © 2023 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center | Accessibility a 8:53 PM 6/12/2023 ► 11 O fm P W (12 ins Submit Assignment prt sc delete backspace 3.: 0
Financial Math hi could you please kindly explain to me generrously all your steps without skipping any , preferably a HANDWRITTEN notes.. Thanks A saving account earns compound interest at an annual effective interest rate i. Given that d12,41 = 0.08, Find i1.5)- Answer: 0.0897
Examine the summary section of a monthly credit card statement above and find the New Balance. (Disregard the minimum payment
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Hmm.130
Ay 2. Let's assume you finance your house through Wells-Fargo Bank. Below, please find the Truth-in-Lending Disclosure (TILD). Calculate Finance Charge, i.e., the dollar amount the credit will cost you at the end of the term. Amount Financed $332,153 Annual Percentage Rate 5.0% Term 30 Years Taxes and Insurance per month (Escrow account set up by Wells-Fargo.) $442 Group of answer choices $309,751 $468,872 $473,950 $364,841

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