Carolyn owes $9,620 on her Electronics Boutique credit card with a 16.4% interest rate. She owes $3,970 on her Miscellaneous Goods credit cards which has a 24.6% interest rate. What is the total monthly payment needed to pay off both cards in three years, assuming she makes fixed payments and does not charge any more purchases with the card

Answer:

377.50

Explanation:

Answer: 497.12

Explanation: just got it right on the test

Marilyn entered into a contract and sold equipment to Sam who claimed to be acting on behalf of ABC Corporation. Marilyn was not paid, and upon investigation, she learned that while the articles of incorporation were filed for ABC Corporation, they were never issued. Which of the following is the applicable law in regard to her position in a majority of states?
a. The majority of states follow the old MBCA which follows the approach that only promoters who assume to act as a corporation when the certificate of incorporation has not been issued are jointly and severally liable for the business debts.
b. The majority of states follow the old MBCA which follows the approach that all persons who assume to act as a corporation when the certificate of incorporation has not been issued are jointly and severally liable for the business debts.
c. The majority of states follow the revised MBCA under which the filing of the articles of incorporation, regardless of whether there is a return copy stamped by the secretary of state, is conclusive proof of incorporation; and the corporation itself is liable for business debts from that point forward.
d. The majority of states follow the revised MBCA under which the filing of the articles of incorporation, evidenced by the return of the copy stamped by the secretary of state, is conclusive proof of incorporation; and the corporation itself is liable for business debts from that point forward.

he following information pertains to the January operating budget for Casey Corporation. • Budgeted sales for January​ $207,000 and February​ $100,000. • Collections for sales are​ 60% in the month of sale and​ 40% the next month. • Gross margin is​ 35% of sales. • Administrative costs are​ $10,000 each month. • Beginning accounts receivable is​ $29,000. • Beginning inventory is​ $16,000. • Beginning accounts payable is​ $67,000. (All from inventory​ purchases.) • Purchases are paid in full the following month. • Desired ending inventory is​ 30% of next​ month's cost of goods sold​ (COGS). At the end of​ January, budgeted accounts receivable from January sales is​ ________.

Northwest Clothing Supply has the following transactions during the year related to stockholders' equity:

January 1 Issues 3,000 shares of no-par value common stock for $22 per share.
March 15 Issues 900 shares of $20 par value preferred stock for $23 per share.
December 1 Declares a cash dividend of $1 per share to all stockholders of record (both common and preferred) on December 15.
December 15 Northwest Clothing Supply has fixed the Record Date for both common and preferred shares as December 15.
December 31 Pays the cash dividend declared on December 1.

Required:
Record each of these transactions.

Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,500 Variable costs per unit: Direct materials $ 39 Direct labor $ 27 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $ 401,500 Fixed selling and administrative expense $ 451,000 There were no beginning or ending inventories. The variable costing unit product cost was:

6. A radio station that carries news, features, and editorial opinions about
your area is which type of public? *
A) financiar
O
B) media
C) citizen-action
D) local
E) government​

how do occupancy rate and potential gross rate relate​

Alana Company manufactures books. Manufacturing a book takes 10 units of A1 and 1 unit of A2. Scheduled production of books for the next two months is 1,000 and 1,200 units, respectively. Beginning inventory is 4,000 units of A1 and 30 units of A2. The ending inventory of A1 is planned to decrease 500 units in each of the next two months, and the A2 inventory is expected to increase 5 units in each of the next two months.
How many units of A1 does Alana Company expect to use in production during the second month?
A) 12,000 units
B) 12,500 units
C) 10,000 units
D) 10,750 units

A facility is setting up an assembly line to produce 75 units per day, working 24 hours per day. Calculate the desired cycle time in minutes per unit.

Task Time (Min) Predecessors
A 4 -
B 3 -
C 5 A
D 5 A,B
E 3 C,D

One of the benefits of time management is that it takes away all of your leisure time.
True or false?

Jaheem's business sells a single product. The following information was gathered from Jaheem's records: Price $24.00 per unit Variable costs are 61% of sales price The company's fixed costs are $400,000 annually Current sales total is 41,000 units Target profit before tax $22,000 Budgeted sales total is 48,000 units By how much will profit increase with the sale of each unit in Jaheem's business

IKEA has essentially changed the way people shop for furniture. Discuss the pros and cons of this strategy, especially as the company plans to continue to expand in places like Asia and India.

The December Customer Survey indicates how customers perceived the products in the segment. The survey evaluates the product against the buying criteria. Zero indicates the product met none of the criteria as of December 31, however it had a higher score earlier in the year. Which of the following conditions does not contribute to a perfect score of 100 for a product?
1) Product was priced at the bottom of the range.
2) Product was perfectly positioned (because the segment moves each month, this can occur only once each year).
3) Product had 100% Awareness and 100% Accessibility.
4) All of these are required for a 100 customer satisfaction.

Cariboo Manufacturing Company incurred a joint cost of $1,147,000 in the production of X and Y in a joint process. Presently, 3,300 of X and 2,900 of Y are being produced each month. Management plans to decrease X's production by 1,050 units in order to increase the production of Y by 1,400 units. Additionally, this change will require minor modifications, which will add $79,360 to the joint cost. This cost is entirely attributable to product Y. What is the amount of the joint costs allocable to X and Y before changes to existing production, assuming Cariboo allocates their joint costs according to the proportion of Y and X produced

Under the retrospective approach to accounting for changes in accounting principles, Multiple select question. prior years' financial statements are revised to reflect the impact of the new accounting principle change. a journal entry is made to adjust asset accounts to what their balances would have been had the new method been used in the current year forward. a journal entry is made to adjust all balance sheets accounts to what they would have been if the new method had always been used. only the current year and future financial statements are revised to reflect the impact of the accounting principle change. a journal is made to adjust the firm's Retained earnings balance to reflect the cumulative effect of the accounting principle change.

what are the financial resources of netflix​

Banks offer various types of accounts, such as savings, checking, certificate of deposits, and money market, to attract customers as well as meet their specific needs.

a. True
b. False

Restricted stock units (RSUs): Multiple Choice are a grant valued in terms of a set number of shares of company stock. are reported as a liability if payable in shares rather than cash. are recorded based on a value estimated by a restricted stock valuation model. represent shares issued at the date of grant that must be returned if the recipient fails to satisfy the vesting requirement.

Three months ago, CSG stock was selling for $44.25 a share. At that time, you purchased three put options on the stock with a strike price of $45 per share and an option price of $1.75 per share. The option expires today when the value of the stock is $42.50 per share. What is your net profit or loss on this investment

Below are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating assets. All of Decker's current liabilities are operating liabilities. Income statement Current Projected Sales na 1,500 Costs na 1,080 Profit before tax na 420 Taxes (25%) na 105 Net income na 315 Dividends na 95 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 1,200 1,440 Long-term debt 300 360 Common stock 500 500 Retained earnings 430 650 If Decker had a financing deficit, it could remedy the situation by a. borrowing from retained earnings b. borrowing on its line of credit c. paying down its long-term debt d. buying back common stock e. paying a special dividend

Asset turnover ratio Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow: 20Y3 20Y2 Sales $2,385,000 $2,015,500 Total assets: Beginning of year 770,000 620,000 End of year 820,000 770,000 a. Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place. 20Y3 20Y2 Asset turnover fill in the blank 1 fill in the blank 2 b. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable

Primary data collection for a gaming software company could include the following methods except: Group of answer choices A SurveyMonkey survey sent out to the company's existing customers A gaming software report from Gartner Group, a market research firm Select 8-10 customers and get them to try a new product and ask them what they think of the product Talk to customers who comes into your store to return their purchases'

g It is claimed that 1800 gallons of water are needed to produce one pound of beef, i.e., to grow the crops that feed the cattle and to provide the animals with drinking water. This water _______. Group of answer choices is permanently removed from the water cycle remains in the water cycle, but is forever polluted and thus no longer available for potable water usage remains in the water cycle and can be cleaned for future water usages None of these

In your opinion, what's the best strategy
Select one:
a. E-tailing
b. Depends
O c. Both E-tailing and Bricks and Mortar
O d. Bricks and mortar

A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Each jacket costs $50, ordering cost is $100 per order, and holding cost is 1 dollar per jacket per month. What is the annual inventory cost (excluding purchasing cost) if 500 jackets are ordered at a time

Red Rock Bakery purchases land, building, and equipment for a single purchase price of $440,000. However, the estimated fair values of the land, building, and equipment are $189,000, $297,000, and $54,000, respectively, for a total estimated fair value of $540,000. Required: Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.

You are considering two different methods for constructing a new warehouse site. The first method would use prefabricated building segments, would have an initial cost of $6.5 million, would have annual maintenance costs of $150,000, and would last for 25 years. The second alternative would employ a new carbon-fibre panel technology, would have an initial cost of $8.2 million, would have maintenance costs of $650,000 every ten years, and is expected to last 40 years. Both buildings would be in CCA Class 1 (at a rate of 4 percent) and it is expected that each would have a salvage value equivalent to 25 percent of its construction cost at the end of its useful life. The discount rate the firm uses in evaluating projects is 11 percent. The tax rate is 35 percent. What is the annual cost for each option? (Enter the answers in dollars. Do not round your intermediate calculations. Round the final answers to 2 decimal places. Negative answers should be indicated by a minus sign.)

In a small, closed economy, national income (GDP) is $400.00 million for the current year. Individuals have spent $150.00 million on the consumption of goods and services. They have paid a total of $200.00 million in taxes, and the government has spent $150.00 million on goods and services this year. Use this information and the national income identity to answer the questions. How much is spent on investment in this economy

The type of legal system and the level of corruption in a country have been found to be: significant determinants of the rate of economic growth in a country. important topics for political discussion, but not economic explanations of growth. unrelated to the rate of economic growth in a country. important variables explaining the Golden Rule level of capital

For journal entries in this assignment, enter AR for Accounts Receivable, ADA for Allowance for Doubtful Accounts, BAD for Bad Debt Expense, REV for Sales Revenue, and CASH for Cash. Please be careful as you type, because Blackboard is not forgiving! Enter all numeric answers in whole dollars but without a $.
Priestly Inc. records sales on account of $120,000 during the month of June. The company estimates bad debt expense as of 3% of credit sales.
A. Show the journal entry for the June sales on account (enter account name from the choices in the general instructions above, and then the amount).
o Debit: [a] [b]
o Credit: [c] [d]
B. Show the journal entry for June's bad debt expense.
o Debit: [e] [f]
o Credit: [g] [h]
C. Assuming Priestly's opening balance of Accounts Receivable on June 1 was $0, what is its balance of net Accounts Receivable after the two entries above?
Just before closing its books on June 30, Priestly learns that one of its customers, the McKay Company, has run into financial difficultly and cannot pay an invoice totaling $2,300. Priestly decides to write off McKay's account.
i. Show the journal entry for the write-off.
o Debit: [j] [k]
o Credit: [U] [m]
ii. What is Priestly's balance of net Accounts Receivable after the write-off? [
On July 15, Priestly is pleasantly surprised to receive a check for $1,200 from McKay with a note saying the remainder of the balance due will be sent in two weeks.
A. Show the journal entry to reinstate the account for which payment has been received.
o Debit: [o] [p]
o Credit: [q] [r]
B. Show the journal entry to record McKay's payment of $1,200.
o Debit: [s] [t]
o Credit: [u] [v]
C. What is Priestly's balance of net Accounts Receivable after the entries pertaining to Mckay?

Exercise 9-5 Writing off receivables LO P2 On January 1, Wei Company begins the accounting period with a $30,000 credit balance in Allowance for Doubtful Accounts. On February 1, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. On June 5, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.