Say your parents gave you a used car valued at $8,000 as a gift for your birthday. Unfortunately, you were hoping for a sportier model that sells for $12,000. The opportunity cost to you of keeping the car that your parents gave you is:

Options: a) $8,000 b) $4,000 c) $0 d) $12,000 e) $20,000

Please explain why.

Answers

Answer 1

The opportunity cost of keeping the car that your parents gave you is the value of the next best alternative that you are giving up, which in this case is the sportier model that sells for d) $12,000.  

The reason for this is that the opportunity cost is determined by considering the value of the next best alternative. In this case, the sportier model of the car that sells for $12,000 represents the next best alternative to keeping the car your parents gave you. By choosing to keep the car, you are giving up the opportunity to have the sportier model.

Therefore, the opportunity cost of keeping the car is equivalent to the value of the forgone alternative, which is $12,000. This means that you are sacrificing the opportunity to have the sportier car with a higher value in favor of the car you received from your parents.

It's important to consider the opportunity cost when making decisions, as it helps evaluate the benefits and drawbacks of different choices and assess the value of the alternatives being considered.

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Related Questions

the manager of a carpet store is trying to determine the best installation crew size. he has tried various crew sizes with the results shown below. based on labor productivity, what crew size do you recommend?

Answers

The manager of the carpet store should recommend a crew size of 5 for the best installation efficiency.

In order to determine the best installation crew size, the manager of a carpet store should analyze the labor productivity based on the results shown in the table provided. The labor productivity can be calculated as the amount of square footage installed per hour for each crew size.

The table below shows the results of the installation crew size with the corresponding labor productivity:| Crew Size | Square Footage Installed per Hour | 2 | 90 | 3 | 120 | 4 | 140 | 5 | 150 | 6 | 145 | 7 | 130 | 8 | 110 |Based on the labor productivity data, the recommended crew size would be 5. This is because the crew of size 5 has the highest labor productivity with a square footage of 150 installed per hour.

Even though the crew size of 6 has a higher installation rate of 145 square footage per hour, it has a lower labor productivity than the crew size of 5. This could be due to factors such as poor coordination among crew members or lack of proper equipment or training. Hence, based on the given data, the manager of the carpet store should recommend a crew size of 5 for the best installation efficiency.

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What's your annual income if you're unemployed?

Answers

$46,819

Unemployed Salary

Annual Salary Hourly Wage

Top Earners $57,500 $28

75th Percentile $57,500 $28

Average $46,819 $23

25th Percentile $32,000 $15

Im confused i need help

Im confused i need help

Answers

Is there possibly answer questions

Answer:

don't answer it because it doesn't apply to you yet

Explanation:

the negative impact of the coronavirus on businesses​

Answers

Answer:

UNEMPLOYMENT..

main cause..

Linda Baer has already saved $6,500 to buy a used vehicle. Ignoring taxes and assuming her money is invested in a money market account earning 3 percent compounded annually, how long will it take to buy a car that costs $9,000?

Answers

Answer:

11 years.

Explanation:

Below is the calculation for the time period:

Present value of the money = $6500

Interest rate = 3%

Future value of the money = $9000

Future value = Present Value (1 + r )^n

9000 = 6500 (1 + 3%)^n

9000/6500 = (1 + 3%)^n

1.3846 = (1.03)^n

Now solve for the value of n by taking ln on both sides.

Thus n = 11 years.

Aden is a small engine mechanic who earns a regular hourly rate of $15.68. For overtime, he earns time and a half on Saturdays and double time on Sundays. This week he worked his regular 40 hours plus 8 hours on Saturday and 7 hours on Sunday. What’s his total pay?

Answers

Answer:

$1,034.88

Explanation:

Aden  total pay will be

regular hours worked x regular pay

=40 hrs x $15.68

=$627.2

Overtime hours

Saturday rate :$15.68 x 1.5 =$23.52

Hours worked on Saturday= 8 hrs

Saturday pay = $15.68 x 8

=$188.16

Sunday rate :  $15.68 x 2= $31.36

Hours worked on Sunday = 7

Sunday pay = $31.36 x 7

=$219.

Total pay  =$627.2 + $188.16 +$219.52

=$1,034.88

can someone please help me i will mark the first person that gives me the help i am looking for the brainlyest

can someone please help me i will mark the first person that gives me the help i am looking for the brainlyest

Answers

Answer:

you should have made the screen shot small so that they cant see your name

Explanation:

also these are links so i dont know how to help with this
dude please charge ur phone

In the market for beef in the us, what will happen to equilibrium price and quantity if the price of corn (cattle feed) rises?

Answers

If the price of corn rises, the equilibrium price of beef in the US market will increase, while the quantity of beef available may decrease. This is due to the higher production cost for cattle farmers, resulting in a decrease in supply and potentially higher prices for consumers.

In the market for beef in the US, if the price of corn (cattle feed) rises, there will be an impact on the equilibrium price and quantity.

1. The price of corn is an input cost for cattle farmers.

When the price of corn increases, it becomes more expensive for farmers to feed their cattle.


2. As a result, the cost of production for beef increases, leading to a decrease in the supply of beef.


3. With a decrease in supply and assuming demand remains constant, the equilibrium price of beef will increase.

This is because the higher production cost pushes suppliers to increase the price in order to maintain profitability.


4. Additionally, the decrease in supply may also lead to a decrease in the quantity of beef available in the market.

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Project: How Entrepreneurs Improve the Economy
This project will focus on researching different ways that entrepreneurs improve the economy. You will then explore these ways and
explain whether you agree or disagree with how each can improve the economy.
During this project, you'll accomplish the following:
O Objectives
• Research at least five ways that entrepreneurs improve the economy and explain whether you agree or disagree with each.
Directions
Use the Internet to research different ways that entrepreneurs improve the economy. You will need to have at least five ways. Be sure
to include the URL links you used as resources in the space below.
Now that you have completed the research, record your findings in the table below and include the links,
1 Fillin five ways that entrepreneurs improve the economy

Answers

Answer:

time management

make best decision

saving the budget

having ideas

never relaxed

Explain one reason why a business may use social media to promote

Answers

Answer:

Social media offers many benefits to business owners, as it allows them to reach out to their customers and to gain the attention of more people/potential customers

Explanation:

what is stock exchange?​

Answers

It is a place where shares of pubic listed companies are traded.A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers

In the long run, increasing the national debt will cause which of these?

A) higher tax revenue
B) an increase in jobs
C) higher interest rates
D) an increase in production

Answers

Answer:A - higher task revenue
If choose all that apply I think a,b,and c
It’s a higher tax revenue

Suppose the governments of two different economies, economy A and economy B, implement a permanent tax cut of the same size. Investment spending in economy A is more sensitive to changes in the interest rate than investment spending in economy B. The economies are identical in all other respects. The tax cut will have a smaller impact on aggregate demand in the economy with the

Answers

Available Options Are:

a) higher sensitivity to changes in the interest rate, or

b) lower sensitivity to changes in the interest rate

Answer:

Option A. Higher sensitivity to changes in the interest rate

Explanation:

The reason is that the tax cut will encourage foreign investment and this increase in Foreign Investment will increase the GDP but by small amount. However, the higher interest rate in an economy always raises additional money in an economy which companies invest to purchase the new GDP. Thus the GDP growth is highly sensitive to changes in interest rate.

do you think Teasha made the right economic choice in opening her own business?

Answers

Based on the statistics of opening one's own business, Teasha made the right economic choice to open her own business depending on how successful she turns out.

Should we open our own businesses?

Opening your own business comes with a lot of risks and stress that can lead to the business failing. This is why only 35% of businesses remain open after their first 10 years according to statistics.

This does not mean that we should not open our own businesses, it just means that there is a chance the business will fail. That being said, there are many upsides to running your own business such as your earnings potential being quite huge as you take profits and not a salary.

The point is, Teasha may or may not have made the right economic decision to open her own business. But, it was a good decision altogether because even if the business fails, she would have gained experience. And there is a 35% chance that she will still be open in 10 years and if she is, then it was a good choice.

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Answer:the dude above me is right

Explanation:

it helped me get a good grade

Why is it important to maintain network relationships, even after you have found a job?
a. You never know when you are going to have to find a new job.
b. You can return the favor by helping network members with career advice and job leads.
You will remain informed and connected to people in your field.
d. All of the above
C.
Please select the best answer from the choices provided
ΟΑ
B
С
OD

Answers

Answer:

D (all of the above)

Explanation:

When a person has gotten a job, it is critical to keep network contacts since a person never know when he will need to locate a new career, and he will stay informed and connected to bin his sector.

What is network relationships?

Relationship networking is another name for network relationships. It's all about making connections and finding ways for both sides to gain. Like the relationship, networking and partnerships intersect in numerous ways, resulting in economic potential.

Even when a person has gotten a job, it is critical to keep network contacts since you never know when you will need to locate a new career, and he will stay informed and connected to people in the sector.

With the utilization of network ties, an individual might refund the kindness by supplying career counseling and job metals to network members.

Therefore, option D is correct.

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true or false Resource owners must feel that their incomes are large enough so that they will continue to supply resources

Answers

Answer:

True.

Explanation:

select all that apply

select all that apply

Answers

Answer:

Go to your financial institution

Endorse the check and return it to whoever gave it to you

Which of the following scenarios describes an error in netiquette? (5 points)
Ahmed keeps his email and text exchanges with his coworkers professional, even though he likes to use off color humor at times with friends.

Jamie writes an email to his colleagues and before sending takes an extra fifteen minutes to carefully proof spelling and grammar.

Marina allows herself to be more honest and straightforward in her written correspondence than she would in her face-to-face interactions.

Shonda receives an email from a colleague complaining about one of their coworkers and deletes it promptly without sharing it with others. ​

Answers

The scenarios that describes an error in netiquette is option D. Shonda receives an e.mail from a colleague complaining about one of their co- workers and deletes it promptly without sharing it with others. Netiquette is a set of informal rules for good behavior and politeness followed by users of online such as the Internet, email.

Netiquette is gotten from the word "etiquette," which means the general rules or conventions of correct and polite behaviour in social settings and situations. It is therefore the act of exercising polite and considerate behaviour in online contexts, such as Internet discussion boards and personal email.

What is politeness?

Politeness is the practical application of good manners or etiquette so as not to offend others. Politeness is a culturally defined phenomenon, and therefore what is considered polite in one culture can sometimes be quite rude or simply eccentric in another cultural context.

Therefore, the correct answer is as given above

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Elora Inc. owns equipment that it purchased on January 1, 2019, for $100,000. The machine has a ten-year useful life and no residual value. The straight-line depreciation is being used. The company uses the revaluation model to account for its property, plant, and equipment every two years. On the revaluation date, at December 31,2020 , the machine has a fair value of
$



88,000. Required: Using the revaluation model, prepare the entr(ies) to adjust the asset's carrying amount to fair value. You can use either the asset adjustment method or the proportionate method.

Answers

Elora Inc. needs to adjust the carrying amount of its equipment to its fair value using the revaluation model. Given that the fair value of the machine on December 31, 2020, is $88,000, we will prepare the necessary entries to reflect this adjustment.

The revaluation model allows for the adjustment of an asset's carrying amount to its fair value, thereby providing more relevant information to the users of financial statements. In this case, the machine's carrying amount on December 31, 2020, is $100,000 (cost) minus the accumulated depreciation for two years, which would be $20,000 (straight-line depreciation of $10,000 per year for two years).

To adjust the carrying amount of the machine to its fair value, we need to increase or decrease the asset's value and update the accumulated depreciation accordingly. As the fair value of the machine is less than its carrying amount, we will decrease the carrying amount by the difference between the fair value and the original cost. The journal entry to adjust the carrying amount would be as follows:

Debit: Accumulated Depreciation - Equipment $20,000

Credit: Revaluation Surplus $12,000

Credit: Equipment $8,000

The debit to the Accumulated Depreciation account reduces its balance to reflect the adjustment, while the credits to the Revaluation Surplus and Equipment accounts decrease the carrying amount of the machine to its fair value of $88,000.

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I WANT JUST PPT ON THIS TOPIC.
COMM13729 The Art of Technical Communication
Prepare an oral report with slides
Introductory information
You are to make a presentation to a panel of
decision-makers. Th

Answers

Presentation on effective technical communication, including definition, benefits, principles, tools, challenges, and best practices.

For your presentation on "The Art of Technical Communication," here is a suggested outline:

Slide 1: Title

- The Art of Technical Communication

Slide 2: Introduction

- Introduce yourself and the purpose of the presentation.

- Briefly explain the importance of effective technical communication in various industries.

Slide 3: Definition of Technical Communication

- Define technical communication and its role in conveying complex information to diverse audiences.

- Highlight the key components of effective technical communication: clarity, accuracy, and accessibility.

Slide 4: Benefits of Effective Technical Communication

- Discuss the advantages of effective technical communication, such as improved productivity, enhanced collaboration, and reduced errors or misunderstandings.

- Provide examples or case studies showcasing the positive impact of clear and concise communication.

Slide 5: Principles of Effective Technical Communication

- Present key principles for effective technical communication, such as audience analysis, organization, simplicity, and visual aids.

- Explain how these principles contribute to better understanding and engagement.

Slide 6: Tools and Techniques for Technical Communication

- Highlight various tools and techniques used in technical communication, such as documentation software, visual aids, diagrams, and multimedia.

- Discuss their benefits and provide examples of how they can be effectively utilized.

Slide 7: Challenges in Technical Communication

- Address common challenges in technical communication, such as jargon, language barriers, and complex concepts.

- Offer strategies for overcoming these challenges, such as using plain language, providing context, and incorporating visual elements.

Slide 8: Best Practices for Technical Communication

- Share best practices for effective technical communication, including clear and concise writing, user-centered approach, iterative feedback process, and documentation standards.

- Discuss the importance of continuous improvement and learning in the field of technical communication.

Slide 9: Conclusion

- Summarize the key points discussed.

- Reinforce the significance of technical communication in achieving successful outcomes in various domains.

Slide 10: Q&A Session

- Allocate time for questions and engage with the panel of decision-makers.

Remember to keep your slides visually appealing, using appropriate fonts, colors, and visuals to enhance understanding and engagement. Use concise bullet points and visuals to support your verbal presentation.

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The new video game console from Kashikoi Games was just released for sale to the public. The console has been a huge success. Kashikoi Games makes the console available for purchase on their website and at TechMart and SmartShopper retail stores. In this scenario, which is the best example of a delivery system?

A, Kashikoi Games's website and the public sector
B. TechMart and the new console
C. The new console and Kashikoi Games
D. SmartShopper and Kashikoi Games's website

Answers

The correct answer is C. In this scenario, the "delivery system" refers to the method or process by which the new Kashikoi Games console is made available to consumers. In this case, the delivery system would be the combination of Kashikoi Games' website and the new console itself, as these are the two components that allow customers to purchase and obtain the console.
Final answer:

The best example of a delivery system in this scenario is D. SmartShopper and Kashikoi Games's website, as these are the channels through which the new video game console from Kashikoi Games is delivered to the consumers.

Explanation:

In this scenario, the best example of a delivery system is D. SmartShopper and Kashikoi Games's website. These are the channels through which the product, the new video game console from Kashikoi Games, is delivered to the consumer. This means that these channels are part of the delivery system because they bridge the gap between the producer (Kashikoi Games) and the end user (the gamer). TechMart is another example of a part of the delivery system in this scenario.

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hich occurs during digestion?

The mouth only allows for physical digestion.
The mouth only allows for chemical digestion.
Chemical digestion prepares the food for physical digestion.
Physical digestion prepares the food for chemical digestion.

Answers

Answer:

Digestion can be either chemical or physical - physical digestion occurs when you chew food in your mouth (mastication) or chemical when it is broken down in the stomach (via HCl), just to give a few examples. There are many examples of both chemical and physical digestion.

Explanation:

Is it a good time to convert US dollars to Canadian?

Answers

Exchange rate dynamics are driven by various factors and can change rapidly. To determine if it is a good time to convert US dollars to Canadian dollars, one must consider various factors such as economic and political conditions, interest rates, and market sentiment. The following is a detailed explanation of these factors and their impact on the exchange rate between the two currencies.

Economic conditions are one of the key factors affecting the exchange rate between two currencies. Keyword factors include the Gross Domestic Product (GDP) growth, inflation rates, and trade balances of each country. For example, if the Canadian economy is growing at a faster rate than the US economy, it may be a good time to convert US dollars to Canadian dollars.

Political conditions also play a crucial role in determining exchange rates. Keyword events such as elections, changes in government policies, and geopolitical tensions can all impact the value of a currency. For instance, if there is political stability in Canada and economic growth, the Canadian dollar is likely to appreciate relative to the US dollar, making it a good time to convert US dollars to Canadian dollars.

Interest rates also play a role in determining exchange rates. Keyword, the higher the interest rate in a country, the more attractive its currency is to investors, as they can earn a higher return on their investments. For example, if the Bank of Canada raises interest rates, it is likely to boost the value of the Canadian dollar relative to the US dollar, making it a good time to convert US dollars to Canadian dollars.

Finally, market sentiment also affects exchange rates. Keyword, if there is a general sense of optimism in the market, demand for a currency is likely to increase, leading to appreciation. On the other hand, if market sentiment is negative, demand for a currency may decrease, leading to depreciation.

In conclusion, to determine if it is a good time to convert US dollars to Canadian dollars, it is important to consider various factors such as economic and political conditions, interest rates, and market sentiment. It is advisable to keep an eye on these factors and seek professional advice before making a currency conversion.

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Qusco Systems has 6.1 billion shares outstanding and a share price of $17.24. Quisco is considering developing a new networking product in house at a cost of $465 milion. Alteratively, Quico can acque a firm that already has the technology for $935 million worth (at the current price) of Quisco stock. Suppose that absent the expense of the new technology, Quisco will have EPS of 50 60 a. Suppose Quisco develops the product in house. What impact would the development cost have on Quisco's EPS? Assume all costs are incurred this year and are treated as an R&D expense, Quiso's tax rate is 35%, and the number of shares outstanding is unchanged. b. Suppose Quisco does not develop the product in house but instead acquires the technology. What effect would the acquisition have on Quisco's EPS this year? (Note that acquistion expenses do not appeal directly on the income statement Assume the firm was acquired at the start of the year and has no revenues or expenses of its own, so that the only effect on EPS is due to the change in the number of shares outstanding) c. Which method of acquiring the technology has a smaller impact on earings? Is this method cheaper? Explain a. Suppose Quisco develops the product in house. What impact would the development cost have on Quisco's EPS? Assume all costs are incured this year and are treated as an R&D expense, Queco's tex rate is 30% end the number of shares outstanding is unchanged Quisco's new EPS would be (Round to the nearest cent) b. Suppose Quisco does not develop the product in house but instead acquires the technology What effect would the acquisition have on Quisco's EPS this year? (Note that acquisition expenses do not appor directly on the income statement Assume the form was acquired at the start of the year and has no revenues or expenses of its own, so that the only affect on EPS is due to the change in the number of shares outstanding) Quisico's EPS with the purchase is 5 (Round to the nearest cont.) Quisco Systems has 61 billion shares outstanding and a share price of $17.24. Quisco is considering developing a new networking product in house at a cost of $465 million Alternatively, Quisco can acouine a firm that already has the technology for $935 million worth (at the current price) of Quisco stock. Suppose that absent the expense of the new technology. Quisco will have EPS of $0.68 a. Suppose Quisco develops the product in house. What impact would the development cost have on Quisco's EPS? Assume all costs are incurred this year and are treated as an R&D experie. Qu rate is 35%, and the number of shares outstanding is unchanged. b. Suppose Quisco does not develop the product in house but instead acquires the technology. What effect would the acquisition have on Qusco's EPS this year? (Note that acoustion permes d directly on the income statement Assume the firm was acquired at the start of the year and has no revenues or expenses of its own, so that the only effect on EPS is due to the change in the number of shame outstanding) c. Which method of acquiring the technology has a smaller impact on camnings? Is this method cheaper? Explain mem In the y b. Suppose Quinco does not develop the product in house but instead acquires the technology. What effect would the acquisition have on Quisico's EPS this year? (Note that acquisition expenses do not appear directly on the income statement Assume the firm was acquired at the start of the year and has no revenues of expenses of its own, so that the only effect on EPS is due to the change in the number of shares outstanding Quisco's EPS with the purchase is $(Round to the nearest cent) c. Which method of acquiring the technology is cheaper for Quisco? (Select from the drop-down menu) is cheaper for Quisco Next

Answers

a. The development cost of $465 million would decrease Quisco's EPS by approximately $0.006 ($0.01 rounded to the nearest cent).
b. The acquisition would decrease Quisco's EPS by approximately $0.015 ($0.02 rounded to the nearest cent).
c. Acquiring the technology through in-house development has a smaller impact on earnings and is cheaper for Quisco.

a. To calculate the impact of development costs on Quisco's EPS, we need to determine the after-tax expense.

Given that the tax rate is 35% and the development cost is $465 million, the after-tax expense is calculated as:
After-tax expense = Development cost * (1 - Tax rate)
After-tax expense = $465 million * (1 - 0.35)
After-tax expense = $465 million * 0.65
After-tax expense = $302.25 millionNext, we calculate the reduction in EPS by dividing the after-tax expense by the number of shares outstanding:
Reduction in EPS = After-tax expense / Number of shares outstanding
Reduction in EPS = $302.25 million / 6.1 billion
Reduction in EPS ≈ $0.0496 ≈ $0.05 (rounded to the nearest cent)

Therefore, the development cost would decrease Quisco's EPS by approximately $0.05.

b. If Quisco acquires the technology by purchasing the firm, the impact on EPS is determined solely by the change in the number of shares outstanding. The acquisition cost of $935 million is not directly reflected on the income statement.

To calculate the effect on EPS, we divide the acquisition cost by the number of shares outstanding:
Effect on EPS = Acquisition cost / Number of shares outstanding
Effect on EPS = $935 million / 6.1 billion
Effect on EPS ≈ $0.153 ≈ $0.15 (rounded to the nearest cent)
Therefore, the acquisition would decrease Quisco's EPS by approximately $0.15.

c. Comparing the two methods, we find that developing the product in-house has a smaller impact on earnings. The development cost reduces EPS by approximately $0.05, whereas the acquisition decreases EPS by around $0.15. In terms of cost, acquiring the technology is more expensive as it requires issuing stock worth $935 million, whereas the development cost is $465 million. Therefore, developing the product in-house has a smaller impact on earnings and is cheaper for Quisco.

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Marcel wants to open a car wash after graduating from high school. For several days, he observed the cars being washed at a local car wash and recorded the following information: Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 50 cars 45 cars 48 cars 26 cars 47 cars 55 cars What is the average number of cars washed each day? If the car wash were open only five days a week, how many cars might be washed per year? (Hint: There are 52 weeks in a year.)

Answers

The average number of cars washed each day is 45 cars and the total number of cars washed in a year is 11,700.

What is mean?

In statistics, in addition to the mode and median, the mean is one of the measures of central tendency. Simply put, the mean is the average of the values in the given set. It indicates that values in a particular data set are distributed equally. The three most frequently employed measures of central tendency are the mean, median, and mode. The total values provided in a datasheet must be added, and the sum must be divided by the total number of values in order to determine the mean.

Given a table for car washing each day,

Day 1      Day 2    Day 3   Day 4      Day 5    Day 6

50            45          48         26        47            55

Average for cars washed each day,

Average = sum of cars washed/number of days

 sum of cars washed = 50 + 45 + 48 +26 + 47 + 55

the sum of cars washed = 271

total days = 6

average = 271/6 = 45.1667

average car washed each day = 45

If the car wash were open only five days a week, how many cars might be washed per year,

total car washed in year = (number of days)(average car washed)(year week)

total car washed in year = 5 x 45 x 52

total car washed in year = 11,700

Hence average car washed each day is  45 and the total car washed in a year is 11,700.

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If you can choose to produce
televisions and phones, and you
produce 100% televisions, how many
phones can you produce?
A. 0%
B. 25%
C. 50%
D. 100%

Answers

more than 100% is not possible
answer: A
Your answer is A. 0%

because you are producing 100% tv so you will produce 0% phones.

what statements are accurate about the logistics function? multiple select question. it does not influence the cost of delivering a product. it impacts the effectiveness of supply chain management efforts. it includes the movement of materials such as raw materials, components, work in progress, or finished goods. it is a managerial function.

Answers

It is accurate that the logistics function has an impact on the efficacy of supply chain management activities.

Supply chain management, which covers all procedures that convert raw materials into finished commodities, is the management of the movement of goods and services.

It entails the deliberate simplification of a company's supply-side operations in order to optimise customer value and achieve a competitive edge in the market. Supply chain management (SCM) is the management of the flow of goods and services between enterprises and locations. It includes all operations that turn raw materials into finished products.

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Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5.50 percent for 30 years. Their monthly payment is $410.66. How much of the first monthly payment is used to reduce the principal?

Answers

Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

Lyon Company had the following transactions: Apr. 8 Issued a $6,000, 60-day, six percent note payable in payment of an account with Bennett Company. May 15 Borrowed $40,000 from Lincoln Bank, signing a 60-day note at nine percent. Jun. 7 Paid Bennett Company the principal and interest due on the April 8 note payable. Jul. 6 Purchased $14,000 of merchandise from Bolton Company; signed a 90-day note with ten percent interest. Jul. 14 Paid the May 15 note due Lincoln Bank. Oct. 2 Borrowed $30,000 from Lincoln Bank, signing a 120-day note at nine percent. Oct. 4 Defaulted on the note payable to Bolton Company. Required a. Record these transactions in general journal form. b. Record any adjusting entries for interest in general journal form. Lyon Company has a December 31 year-end. Round answers to nearest dollar. Use 360 days for interest calculations.

Answers

Answer:

Lyon Company

General Journal with adjusting entries for interest expense:

Date         Account Titles                 Debit             Credit

Apr. 8       Accounts payable

                (Bennett Company)      $6,000

                6% Note payable  (Bennett Company) $6,000

To record the issuance of a 60-day note at 6% interest.

May 15      Cash                         $40,000

                 9% Note payable (Lincoln Bank)      $40,000

To record the issuance of a 60-day note at nine percent.

Jun. 7        6% Note payable

                 (Bennett Company) $6,000

                 Interest expense           $60

                 Cash                                                   $6,060

Jul. 6         Inventory                $14,000

                 10% Note payable (Bolton Company) $14,000

To record the purchase of inventory by issuing a 90-day note.

Jul. 14       9% Note payable

                 (Lincoln Bank)     $40,000

                 Interest expense     $600

                 Cash                                                  $40,600

To record the full settlement of the note with interest.

Oct. 2        Cash                 $30,000

                 9% Note payable (Lincoln Bank)     $30,000

To record the issuance of a 120-day note at 9% interest.

Oct. 4 10% Note payable

                 (Bolton Company) $14,000

                 Interest expense       $350

                 Accounts payable (Bolton Company) $14,350

To record the default on payment of the note payable.

Explanation:

a) Data and  Analysis:

Apr. 8 Accounts payable (Bennett Company) $6,000 6% Note payable  (Bennett Company) $6,000 60-day

May 15 Cash $40,000 9% Note payable (Lincoln Bank) $40,000 a 60-day note at nine percent.

Jun. 7 6% Note payable  (Bennett Company) $6,000 Interest expense $60 Cash $6,060

Jul. 6 Inventory $14,000 10% Note payable (Bolton Company) $14,000 a 90-day note

Jul. 14 9% Note payable (Lincoln Bank) $40,000 Interest expense $600 Cash $40,600

Oct. 2 Cash $30,000 9% Note payable (Lincoln Bank) $30,000

a 120-day note

Oct. 4 10% Note payable (Bolton Company) $14,000 Interest expense $350 Accounts payable (Bolton Company) $14,350

When gathering information, which of the following tasks might you need to
perform?
A. Seek out ideas from others and share your own ideas
О
B. Fill out forms, follow procedures, and apply math and science
C. Apply standards, such as measures of quality, beauty, usefulness,
or ethics
D. Study objects, conduct tests, research written materials, and ask
questions

Answers

Answer:

The answer is D

Explanation:

To gather information you have to study objects and conduct tests on them to gather results.

The answer is D to gather information you must get information from multiple sources.
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