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- Question 12 Krystal recieves an invoice from Home Hardware dated November 2nd, 2020 for $510 with terms 6/10, 2/17, n/30. If Krystal pays the invoice in full on November 22nd, 2020, a. How many days were there between the date of the invoice, and when the invoice was paid? b. How much is the amount of the discount? c. How much was paid? Number of days = Amount of Discount = $ Payment = $ > Next Question (rounded to the nearest cent) (rounded to the nearest cent)QUESTION 9 Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss in January costing 1,127, another in May costing 2,209 and the last in December costing 1,043. If Faisal has a straight deductible of 324. How much will the insurer pay?Question 9 Assume that Sean and Catherine only pay the minimum payment on Credit Card #2 (balance $6,500). The minimum balance is 3% of the total balance. What is their minimum monthly payment? $195 Question 10 Using the BankRate calculator and the minimum payment you calculated above, if Sean and Catherine pay the minimum payment plus an additional $25, how many months would it take them to pay off their credit card loan based on a 15.9% APR?
- Problem 9-5 Estimated Payments (LO 9.2) Sherina Smith (Social Security number 785-23-9873) lives at 536 West Lapham Street, Milwaukee, WI 53204, and is self-employed for 2021. She estimates her required annual estimated income tax payment for 2021 to be $7,968. She was required to pay $166 when she timely filed her prior year tax return. Complete the first quarter voucher below for Sherina for 2021. Form 1040-ES Payment Voucher 1 Department of the Treasury 2021 Estimated Tax Internal Revenue Service OMB No. 1545-0074 Calendar year-Due April 15, 2021 File only if you are making a payment of estimated tax by check or money order. Mail this voucher with your check or money order payable to "United States Treasury." Write your Amount of estimated tax you are paying social security number and "2021 Form 1040-ES" on your check or money order. Do not by check or Dollars Cents send cash. Enclose, but do not staple or attach, your payment with this voucher. money order.eBook Problem 7-02 A self-employed person deposits $4,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 9 percent. Use Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 50?$ How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?$ How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70?$*... 8:16 ןוה ווה A 58% [Template] E.DEFERRALS Exercise 1-3 On July 15, 20A, Hilnora Gregorio collected in advance cash of P48,000 from a tenant of her building. This represents rental which cover from the period August 1, 20A to Augur 1, 20C (two year contract) 1. How much is the earned portion of the rental collected in advance for the year ended, Dec. 31, 20A. 2. How much is the unearned portion of the rental collected in advance as of Aug. 1, year 200. 3. Assuming that 'Income Method" or Rent Income was used in recording the pre-collection, what would be the necessary adjusting entry on Dec. 31, 20A? 4. Assuming the "Liability Method" or Unearned Rent Income was credited upon receipt of cash, what is the adjusting entry needed on December 31, 20A? Exercise 2 Exercise 2 -1 On September 1, 20A, Maria Theresa C Apostol, owner of Cateel Fitness Centre paid an advance rental on a space of the building it occupies in the amount of P84,000. This covers the period from September 1, 20A to…
- Week # 5 Homework Assignment (Chapter 7 - 8) Q1. You plan to purchase a $100,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25%. You will make a down payment of 20 percent of the purchase price. Calculate your monthly payments on this mortgage. Calculate the amount of interest and, separately, principal paid in the 25thpayment. Calculate the amount of interest paid over the life of this mortgage.D Question 8 On 1 December in the previous year a taxpayer borrows $350,000 to use in his business. He pays $2,000 in Stamp Duty and $500 in mortgage broker fees. The loan was to be repaid in 10 years. Interest in the current year was $10,000. What is the remaining expenditure and the remaining loan period to calculate the claim for borrowing expense deduction under $25-25 in the current year? O $350,000 and 3,650 days O $2,500 and 1,825 days 13 days $12.500 and 1.825 days $2.210 and 1.Chapter 08 Homework (Application) Show Me How eBook Calculator Entries for Notes Receivable 1. EX.08.01 Valley Designs issued a 90-day, 9% note for $60,000, dated April 17, to Bork Furniture Company on account. Assume 360 days in a year when 2. EX.08.02 ALGO computing the interest. 3. EX.08.03 ALGO a. Determine the due date of the note. July 16 v 4. EX.08.04 ALGO b. Determine the maturity value of the note. 5. EX.08.06 ALGO 6. EX 08.07 Feedhack 7. EX.08.20 ALGO YChec My Work The due date is the date the note is to be paid. 8. PR.08.02A BLANKSHEET Remember the interest rate is stated on an annual basis, while the term is expressed as days. Assume a 360 day year. The maturity value is the amount that must be paid at the due date of the note. c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. Notes Receivable v Accounts Receivable-Valley Designs v Feedback
- QUESTION 6 Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card. The credit card APR is 18% and you want to pay off the balance in 3 years. O $138.98; $5003.30 O $115.69; 44164.76 O $99.08; $3566.93 O $174.02; $6264.60Narrative 14-1For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, whennecessary. Refer to Narrative 14-1. You purchase a home for $69,750 at 6.75% for 30 years. The property taxes are $2,450per year, and the hazard insurance premium is $256 semiannually. Find the monthly PITI payment. Group of answer choices 699.51 $594.73 $1,059.40 $246.83Question 3 Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60. (i) Calculate the single discount equivalent to the trade discounts given.