Answer:
how much must Gary receive from his father's trust?
682,5
Explanation:
$850 Gary's social security + ($850 X 55%) Barbara's social security + x father trust= $2,000
850 + ($850 x 0.55) + x = $2000
850 + 467.50 + x = $2000
1317.50 + x = 2000
x=682,50
Answer:
Price Quantity Supplied Quantity Demanded
$2 1 1
$4 2 1
$8 3 1
$12 4 2
$20 4 2
$32 5 4
$44 5 5
In this market, the equilibrium price will beper widget, and the equilibrium quantity will be:
In this market, the equilibrium price will be $44, because is the price where the quantity supplied and the quantity demanded is the same: 5 widgets supplied, and 5 widgets demanded.
Answer:
35 days
Explanation:
Receivables turnover rate = 23.5
Payables turnover rate = 12.5
Inventory turnover rate = 19.15
Length of firm's operating cycle :
(Days sales in inventory + average collection period)
Days' sales in inventory = (365 days / inventory turnover ratio)
Days' sales in inventory = (365 / 19.15)
Days's sales in inventory = 18.717 days
Average collection period : (365 / accounts receivable turnover ratio)
Average collection period = (365 / 23.5)
Average collection period = 15.531
(18.717 + 15.531)
= 34.248
= 35 days
Answer:
Dr interest expense $7,000
Dr notes payable $7,238
Cr cash $14,238
Explanation:
The first task is to compute interest expense on the loan in year 1 which is shown below:
interest expense=$100,000*7%
interest expense=$7,000
Principal repayment=repayment-interest repayment
Principal repayment=$14,238-$7,000=$7,238
The double entries are to debit interest expense and notes payable with $7,000 and $7,238 respectively while cash is credited with $14,238 as an outflow of cash.
Answer:
She should use;
B. Easement
Explanation:
We can explain each word given as follows;
1. Encumbrance: this is a claim by a non owner to a property. Encumbrance can restrict or limit the usage and transfer of the property to another owner until it is lifted.
2. License: this is a document that gives one the authority or the right to undertake a given activity. The activity is usually professional or business. In case of a professional, the license can be in the form of a practicing license provided by a regulatory body. In the case of a business, a business license can be sought out from the relevant governing authority whose jurisdiction the business falls.
3. Covenant: a covenant is a mutual agreement between two or more parties on a common thing. The covenant is usually formal and can be legally binding.
4. Easement: an easement is a right that is given temporarily by the owner to another individual to enter or access the owner's property. The usage of the property by the non owner must be specific. In general, easements are common especially when dealing with utility companies or in usage of access roads. In our case, the homeowner being the owner of her yard gave an easement to reach a basketball court by granting seasonal permission to cross the yard.
