Michael took out a personal loan for $6,000 with a monthly payment of $215.33 for 36 months. Determine the finance charge on Michael's loan if he takes all 36 months to pay it off.
Q: What is the depreciable based of the machine?
A: Step 1: IntroductionThe depreciable base represents the portion of the asset's cost that will be…
Q: Calculate this company's gross profit.
A: Step 1: Definition of Gross ProfitGross Profit is the profit a company earns from sales after…
Q: Variable manufacturing overhead:0.70, fixed manufacturing overhead:5.85
A: Explanation of Variable Costs: Variable costs are expenses that change in direct proportion to the…
Q: answers in whole dollars.
A: Step 1: Definition of GoodwillGoodwill is an intangible asset that arises when a company acquires…
Q: Answer
A: Included in long-term investment:1. Debt investments - held to maturity beyond one year2. Land (held…
Q: gross profit to sales?
A: Step 1: Definition of Gross Profit Margin RatioThe gross profit margin ratio measures a company's…
Q: what is the equity at the end of the year?
A: Step 1: Definition of EquityEquity is the portion of an asset that belongs to the owner. It could be…
Q: Accounting question
A: As per Dividend Discount Model- Current Share Price = Dividend in year 1/(Required rate-Growth rate)…
Q: Kindly help me with accounting questions
A: Step 1: Analysis of information givenGross profit rate is 20%. This means gross profit is 20% of…
Q: What are the days to collect from customer?
A: Step 1: Formulas Days sales outstanding = Average accounts receivable/Net sales x 365 daysAverage…
Q: Hello tutor please provide correct answer general Accounting question
A: Step 1: Define Allowance for Doubtful AccountsThe Allowance for Doubtful Accounts is a contra-asset…
Q: What was Callie's gross profit?
A: Step 1: Definition of Gross ProfitGross Profit represents the profit a company makes after…
Q: What is the company's dividend payout ratio of this financial accounting question?
A: Step 1: Define Dividend Payout RatioThe dividend payout ratio is the percentage of a company's…
Q: calculate its gross profit.
A: Step 1: Definition of Gross ProfitGross profit is the amount a company earns after deducting the…
Q: Beta Corporation began operations on January 1
A: Concept of Cash: Cash refers to the immediate, liquid assets that a business holds and can use to…
Q: compute the cost of goods sold for 2022 under LIFO.
A: Step 1: Definition of LIFO Reserve and its Impact on COGSThe LIFO Reserve represents the difference…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Factory OverheadFactory overhead includes all indirect production costs…
Q: None
A: Concept of Direct Materials InventoryDirect materials inventory refers to the raw materials that a…
Q: Solve this financial accounting problem
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: A job cost sheet of Cullumber Company is given below. Job Cost Sheet JOB NO. 469 Quantity 2,500 ITEM…
A: Understanding the Job Cost Sheet CalculationThe job cost sheet consists of three main cost…
Q: Hi expert please help me
A: Step 1: Definition of Gain or Loss on Asset DisposalA gain or loss on asset disposal occurs when a…
Q: Need help this question
A: We are given that the monthly cost C is a linear function of the total calling time t. This means we…
Q: Provide solution this general accounting question
A: Step 1: Definition of Overhead Cost Estimation Using the High-Low MethodIn the high-low method,…
Q: Solve this Accounting problem
A: Explanation of Credit Terms (2/15, net 40): This notation represents the payment conditions offered…
Q: I want to this question answer general Accounting
A: Step 1: Define Gross Profit & Related TermsNet Sales = Total revenue after deducting sales…
Q: Please give answer the financial accounting question
A: Step 1: Define Allowance for Doubtful AccountsThe Allowance for Doubtful Accounts is a contra-asset…
Q: Need answer the general accounting question
A: Step 1: Definition of Special Order Impact on Net IncomeA special order is a one-time customer…
Q: Correct answer? ? Accounting question
A: Step-by-Step Solution to Calculate Dividend Yield and Capital Gains Yield 1. Understanding the Key…
Q: REQUIRED Study the Statement of Comprehensive Income of Asterix Limited for the three-year period…
A: Solutions1.1 Explain the change that possibly took place in the financing activities over the…
Q: Hii expert please provide correct answer general Accounting
A: Step 1: Define Stock Investment TransactionsStock investment transactions involve the sale of equity…
Q: Hello tutor please help me
A: Step 1: Definition of Comprehensive IncomeComprehensive income includes both net income and other…
Q: Financial Accounting
A: Step 1:The operating leverage shows the relationship between contribution margin and operating…
Q: Ans ? Financial accounting question
A: We are given the following Initial Investment: $6,300Dividends Received: $375Selling Price: $9,800To…
Q: hello teacher please solve questions
A: Step 1: Definition of Net IncomeNet income is the company's total earnings after deducting all…
Q: Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares with a…
A: In this scenario, Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns…
Q: Financial Accounting Question
A: Step 1: Definition of Itemized DeductionsItemized Deductions are specific expenses that taxpayers…
Q: General Accounting
A: Step 1: Define Accrual Basis Sales RevenueThe Accrual Basis Sales Revenue represents the total…
Q: return on assets (ROA). account
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a profitability ratio that…
Q: Can you please solve this financial accounting problem?
A: Step 1: Definition of Operating and Cash Conversion CyclesOperating Cycle (OC) is the time it takes…
Q: Flare Enterprises sells a product in a competitive marketplace. Market analysis indicates that its…
A: Determine the target cost per unitTarget cost = Target price - Desired profit margin Given:Target…
Q: Ms. Sharon Washton was born 26 years ago in Bahn, Germany. She is the daughter of a Canadian High…
A: Residency for tax purposes is determined by a variety of factors. These can include the location of…
Q: What is the total number of units to be assigned?
A: Calculation of Total Units to be assigned Total units to be assigned cost = Units transferred out +…
Q: Tutor need your help
A: Gross Profit Margin (GPM) formula:Gross Profit = Revenue × Gross Profit MarginGiven values:Revenue =…
Q: Please provide solution this financial accounting question not use ai
A: Step 1: Definition of Dividend YieldDividend yield is the percentage of a company's stock price that…
Q: Garrison Enterprises has a net profit margin of 6%, a total asset turnover of 1.8 times, and a debt…
A: Step 1: Given Value for Calculation Profit Margin = pm = 6%Total Asset Turnover = tat = 1.8…
Q: A dog training business began on December 1. The following transactions occurred during its first…
A: The income statement is another financial statement that lists a company's revenues and expenses for…
Q: What is each partner adjusted basis at the end of the year ?
A: Step 1: Definition of Adjusted Basis in a PartnershipA partner's adjusted basis represents their…
Q: expert of account answer
A: Step 1: Definition of Disposable IncomeDisposable income is the amount of income an individual has…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Operating Cash FlowOperating Cash Flow (OCF) is the amount of cash generated…
Q: In its 2015 annual report
A: Concept of Asset Turnover RatioThe Asset Turnover Ratio is a financial metric that measures how…
Financial accounting question
Step by step
Solved in 2 steps
- Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months. Determine the finance charge on Rachel's loan if she takes all 36 months to pay it off.Ans ??Justin is financing $169,600 for a home at 5.25% interest with a 25-year fixed-rate loan. Find the interest paid and principal paid for each of the first two months of the loan and find the principal owed at the end of the second month. E Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.
- Jasper purchased a car for 47,500. He paid a 20% down payment and financed the rest at 2.88 % for 6 years. Find the amount of down payment the monthly payment and the total interest jasper will have paid at the end of his loan.Stephen has just purchased a home for $125,000. A mortgage company has approved his loan application for a 30-year fixed-rate loan at 5.00%. Stephen has agreed to pay 25% of the purchase price as a down payment. Find the total interest Stephen will pay if he pays the loan on schedule. E Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed. The total interest is S. (Round to the nearest cent as needed.)Nikul
- Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months. How much money does Henry receive into his bank account when the loan is drawn down?Bob purchases a car for $28,000. He makes $640 a month payments for 36 months on a 6.9% interest loan. What is his balloon payment?2. Alex needs to repay a $ 8500 debt. His bank offers personal loans with terms from one to five years at 8.9% per year, compounded monthly. a) Determine Alex's monthly payment for a five-year term. Use formula and show your work. ( gag. b) Calculate the total interest paid on the loan if he makes monthly payment. c) Determine Alex's payment if he chooses to make bi-weekly and weekly payments. Use TVM Advanced Calculator and fill up the blank. Bi-weekly Weekly TVM Advanced Calculator TVM Advanced Calculator Mode *End O Beginning Mode End Beginning Present Value PV Present Value PV Payments PMT Payments PMT
- Mason borrows $41,217.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.40% p.a. After 18 months Mason decides to pay off his car loan. How much does he owe on the loan?Ans pleaseJessica borrows $1,000.00 from a credit card company at 25% annually for two years. Determine Jessica’s monthly payment. Show your work.