Question: At year-end, Optima Supplies has assets equal to $145,000 and liabilities equal to $60,000. What is the total equity for Optima Supplies at year- end?
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A: Final Answers: A. Cost of Goods Manufactured = $152,400 B. Cost of Goods Sold = $192,700
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- Given an annual credit sales value of 365 million; accounts receivable beg. 36.5 million, cost of goods sold of 240 million, and beginning inventory of 20 million, how long is the average colelction period? (assume 365 days in a year) a. 30 days b. 55.5 days c. 36.5 days d. 10 daysThus Answer? ? General AccountingHi expart Provide answer of this accounting question
- What does a "back-end" ratio consist of? O Maximum monthly payments 39% of gross monthly income O (PITI + LTO)/GMI PITI/GMIA company borrows $100,000 with interest at j₁2 = 9%. The loan is to be amortized by monthly payments of $1550 for as long as necessary. A final smaller payment will be calculated so the loan will be exactly repaid. The outstanding balance immediately after the th th 88 payment is $796.44. What is the value of the 89" and final payment? O A. $790.51 B. $796.44 C. $802.41 D. $808.43Need Solution pls provide
- An estimate has the following cost and revenue cash flows. The cash flows are assumed to occur at the end of the year. (a) If interest is 10%, find the net present worth, net future worth, and net annual equivalentworth.(b) Find the rate of return. (Hint: The guessing range is 25 to 30%).(c) Present a summary of the four methods Year Cost Revenue 0 $800 $0 1 - $450 2 - $425 3 - $400A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the monthly payments,total amount paid and cost of financing. PV =$ I/Y= C/Y= i= n = PMT=$ AMOUNT PAID =$ COST OF FINANCING=$ 2 d.p. 2 d.p. 2 d.p.Your company has been offered credit terms on its purchases of 4/30, net 90days. What will be the nominal annual cost of trade credit if your companypays on the 35th day after receiving the invoice? (Assume a 365-day year.) Show your complete solution.
- Explain the meaning of a 20% annual percentage rate (APR) quotedby the credit c.ird company? And how the credit card company calculates theinterest payment?What is the annual interest rate charged by this lender of this financial accounting question?Suncoast Boats Inc. estimates that because of seasonal nature of its business, it will borrow $5,000,000 for 70 days. Suncoast will borrow @ 9% annum using a discount loan. There will be $53,000 in up - front fees. a. Find loan amount b. Find interest. c. Find other cost/fees. d. Find compensating balance. e. Find m and period rate. f. Find Annual Percentage Rate, APR g. Find effective annual rate, EAR.
