Joe is a plumber and has 50,000 in revenue for the year. What can you definitely conclude? Joe collected less than 50,000 cash he collected 50000 cash from his customers he did 50000 of plumbing work for his customers

Joe is a plumber and has 50,000 in revenue for the year. What can you definitely conclude? Joe collected less than 50,000 cash he collected 50000 cash from his customers he did 50000 of plumbing work for his customers

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A couple found a house selling for $115,500.The taxes on the house are $1200 per year, and insurance is $360 per year. They are requesting a conventional loan from the local bank. The bank is currently requiring a 15% down payment and 3 points, and the interest rate is 10%. The couple's gross monthly income is $4850. They have more than 10 monthly payments remaining on a car, a boat, and furniture. The total monthly payments for these items is $420. Their bank will approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Complete parts a) through g) below. Part 1 a) Determine the required down payment. The required down payment is $?
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses: Airfare $ 420 Lodging 2,200 Meals 550 Entertainment of clients 440 Required: How much of these expenses can Jordan deduct?
1) Betty Smith (that scoundrel Bob’s wife) wants to save $500,000 in four years. She knows that Bob isno good and is planning on leaving him. She wants to make monthly deposits into an account thatpays 5%monthly. How much should she deposit at the end of each month? For those that are curious,Betty makes money by selling poodle prints. She dips her poodle in a giant ink well and presses it ontoa canvas. Dog lovers will buy anything.
Sam decided to start a printing company called, Sam Printing Inc. This company was his dream joband he saved up $30 000 to start the company therefore he didn’t need a loan from the bank. Samdid his first job for $300 to customer Mike. Mike paid him $200 and the rest on account. Sam wasrunning out of supplies so he had to buy pens, notebooks, paper etc for $500. He decided that heshould pay his rent for $200 and gas for $100. Sam was getting really busy and needed to buy acomputer. He paid $500 for an Acer laptop on account. He received a call from Mike who told himshe sent him the money he owed him. Sam is doing really well and decided to buy another store tocontinue his printing business. The store costs $5000. He needed a loan from the bank to purchasethis store. After receiving the loan he decided to pay off the Acer laptop. Use the template below:Prepare an income statement for Sam Printing Inc. using the following information to see ifhe is profiting or loosing?
At the start of the year, Josh has assets worth $500,000. He has debts worth $350,000. Over the year, he earns $200,000 of which he pays $50,000 in tax. He spends $50,000 on goods and services. He pays interest on his debt at 10% of $350,000. He pays off $30,000 of his debts.His assets go up in value by $25,000. What is his net worth at the end of year.
Mike and Mary Jane Lee have a yearly income of $71,428 and own a house worth $107,200, two cars worth a total of $26,119 and furniture worth $13,023. The house has a mortgage of $55,551 and the cars have outstanding loans of $3,646 each. Utility bills, totaling $276 for this month, have not been paid. The value of Mike and Mary Jane's total assets are $?. Round to the nearest dollar.
a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?
To purchase $11,900 worth of restaurant equipment for his business, Greg made a down payment of $1400 and took out a business loan for the rest. After 3 years of paying monthly payments of $319.44, he finally paid off the loan. (a) What was the total amount Greg ended up paying for the equipment (including the down payment and monthly payments)? (b) How much interest did Greg pay on the loan?
Suppose Leonard, Nixon, & Shull Corporation’s projected free cash flow (FCF) for next year is $750,000, and FCF is expected to grow at a constant rate of 4% indefinitely. If the company’s weighted average cost of capital is 10%, what is the value of its operations? a. $18,750,000 b. $12,500,000 c. $7,500,000 d. $13,000,000 e. $10,833,333
I am stuck on what my utility expense for my income statement. I had $30K utilities the first year and incurred an additional $35K and would assume the expense is $65K. Where am I going wrong?
* Your answer is incorrect. The Lahiri family rents a room in their home on Airbnb. They deposit all of the money that they earn into a vacation fund that earns 3% that is compounded annually. Their revenues for five years of their business are shown below. Year $ 1 2 3 4 5 Revenue $1,000 $850 $1,275 $1,800 $800 In year six, they did not rent their room due to extensive remodeling. How much would be in the account at the end of year 6? Click here to access the TVM Factor Table calculator. 5,114.36 Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is ±5.

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