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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During the year, Scott went from Detroit, Michigan to San Jose, California. After six days of business meetings, he took four days of vacation to go sightseeing. Scott's expenses for the trip are as follows: Airfare $400 Lodging (10 days x $80) $800 Meals (10 days × $70) $700 Airport taxi $ 60 Scott's deduction is: Group of answer choices $1,090. $1,150. $1,900. $1,960. None are correct
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.
John decided to leave his job and open a bookshop in the city center. He was working as an engineer before and getting an annual salary of $70000. For the bookshop he paid $40000 for his worker, $30000 for rent, $20000 for utilities. He used his savings that was equivalent to $120000 at an interest rate of 7%. He bought all the books that he planned to sell by his savings. If he opens his bookshop in mall rather than city center his profit was predicted to be $50000. At the end of the first year his revenue from sales was identical to $420000. For John Calculate the total profit/loss.
John was a high school teacher earning $ 80,000 per year. He quit his job to start his own business in pizza catering. In order to learn how to run the pizza catering business, John enrolled in a TAFE to acquire catering skills. John’s course was for 3 months. John had to pay $2,000 as tuition for the 3 months. After the training, John withdrew $110,000 from his savings account. He had been earning 5 percent interest per year for this account. He also borrowed $50,000.00 from his friend whom he pays 6 percent interest per year. Further, to start the business John used his own premises. He was receiving $12,000 from rent per year. Finally, to start the business John uses $50,000 he had been given by his father to go on holiday to USA. John’s first year of business can be summarised as follows: Item Amount $ Revenue- Pizza Section 400,000 Revenue- Beverages Section 190,000 2 Cashiers (wages per worker) 55,000 Pizza ingredients 50,000 Manager 75,000…
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?

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