There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes, BillGuard, PocketExpense, HomeBudget, and Expensify. After using Mint.com, you realize you need to pay off one of your high interest loans to reduce your interest expense. You decide to discount a $5,250, 345-day note at 3% to your bank at a discount rate of 4.5% on day 210. What are your proceeds? (Round your answer to the nearest cent.) Proceeds

Q: As an assistant cost accountant for Firewall Industries, you have been assigned to review the…

A: The following computations are done for the analysis of JoJo Gunn's operations.

Q: When do the funds earn interest at the MARR?

A: The MARR (Minimum Acceptable Rate of Return), generally referred to as hurdle rate is the lowest or…

Q: What is meant by the concept of “potential savings (profits)”?

A: Profit is the total revenues less all costs and expenses. In other words, profit is the net earnings…

Q: How can we use special financial functions to determine the total interest?

A: Financial functions have made financial calculations easy using excel, they make you calculate the…

Q: how much is the goodwill?

A: Goodwill is defined as the difference between the purchase price and the fair value of the defined…

Q: What is the notion of capitalization effects and how does it work

A: The notion of capitalization effects and how does it work will be explained:

Q: What is an annuity?

A: Financial Management: In layman’s words, financial management is the management of the finance or…

Q: What is the purpose of using the retained funds?

A: After paying the dividends, the company retains the remaining net income which is called addition to…

Q: What is a donated capital and how it is accounted?

A: Donated capital is defined as assets given as gift to the entity.

Q: what types of investments generate interest income and how is interest income reported?

A: When a person makes an investment then that person will earn a return or an income on that…

Q: rest that is converted into principal and thus, also earns interest?

A: Step 1   Simple interest is a fixed proportion of the principal amount borrowed or lent that is paid…

Q: How is the present value of a lump sum determined?

A: Definition:   Present value: It refers to the current value of the whole amount that will be…

Q: How can we determine ordinary gains and capital gains?

A: Answer: In the course of normal business, an ordinary gain is income. The gain or loss of foreign…

Q: Why is share in a considered a is perpetuit

A: In finance a perpetuity refers to that financial asset or that financial security that goes on…

Q: Explain Net Income versus Cash Flow?

A: Definition: Statement of cash flows: This statement reports all the cash transactions which are…

Q: What are royalties ?

A: Royalties means payments  made for the purpose of use of property or license or some other important…

Q: Explain the Accumulation of a Future Sum?

A: The concept which gives the value or worth of money held today at the future date due to its…

Q: Explain the method of direct capitalization method?

A: The three approaches to value a business or an investment are the Income based,  Market based and…

Q: What is one objective of an appraisal program? a. having tho

A: What is the one Objective of an appraisal program ? a. having the employee feel more valued  b.…

Q: Why should the capital expenditures be capitalized?

A: Capital Expenditures:   Capital expenditures are those which provide future economic benefits by…

Q: When does the Capital expenditures occur?

A: Capital expenditure is the money spent by business on acquiring fixed assets like land, building…

Q: How can we calculate the net present worth of each payment?

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: What should be done to find the equivalent present worth of the actual dollar amount?

A: Present value is the concept of discounting future value to bring it to today’s worth.

Q: What does Capital Recovery (Ownership) Cost?

A: Capital recovery cost It is an equivalent annual amount each year an asset must earn to recover…

Q: QUESTION 8 On January 1 2018, Trademark Bhd issued 1,000 units, 10-year debentures, RM1,000 per…

A: Debentures are the securities that a company issue to raise capital for the company. A fixed-rate of…

Q: What are the benefits of Relevant Cash-Flow Information?

A:

Q: Describe the process of Calculating Present Worth?

A: Step-1: The initial invested amount should be ascertained and the initial investment is the sum…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.