Payday loan.
You borrow $500 to buy gifts for your children. In two weeks, you need to pay $650.
What would be your interest rate over that two week period, and what would your Annual Percentage Rate be for the year?
How much profit would the PayDay Lender make in a year if they made that same loan with the same $500 every two weeks assuming 100% collections and money out on that original $500?
If the lender had $100,000 in Capital for the entire year, and assuming 100% collections and fully loaned out, what would be the gross revenue for the lender?
In: Finance
| In the Month of March, Baldwin Corporation received orders of 165 units at a price of $15.00 for their product Buzz. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 110 units in March and the balance of 55 units in April. They received payment for 55 units in March, 55 units in April, and 55 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands) | ||||||||
| Select: 1 | ||||||||
|
In: Accounting
A company produces two types of solar panels per year: x thousand of type A and y thousand of type B. The revenue and costequations, in millions of dollars, for the year are given as follows. R(x,y)=4x+5y C(x,y)= x^2- 2xy+ 7y^2 +6x - 93y - 8
Determine how many of each type of solar panel should be produced per year to maximize profit.
Part 1-The company will achieve a maximum profit by selling ____ solar panels of type A and selling____solar panels of type B.
Part 2- The maximum Profit is $____million
In: Math
| Assume that a radiologist group practice has the following cost structure: | ||||||
| Fixed costs | $500,000 | |||||
| Variable cost per procedure | 25 | |||||
| Charge (revenue) per procedure | 100 | |||||
| Furthermore, assume that the group expects to perform 7,500 proce- | ||||||
| dures in the coming year. | ||||||
| a. Construct the group’s base case projected P&L statement. | ||||||
| b. part 1 - What is the group’s contribution margin? b. - part 2 - What is its breakeven point? | ||||||
| c. part 1 - What volume is required to provide a pretax profit of $100,000? | ||||||
| c - part 2 - A pretax profit of $200,000? | ||||||
In: Finance
Market demand (D) for x is P=30-Qand market supply (S) for x is P=6+Q.The Government decides to impose a per-unity of production tax (t = 3) which causes the market supply function to decrease by 3 (shift to the left) or become Sor P= 9+ Q.Graph, in the same diagram, D, S, and S.Compute:(a) Market Gains (MG) before and after the tax;(b) Governmental Revenue (GR);(c) Economic Welfare (EW); and(d) Dead-Weight Loss (DWL); how is the burden of the tax distributed among consumers and producers?
In: Economics
Raider Red Construction entered into a contract to build a commercial building for $3,600,000. Raider Red Construction uses the percentage-of-completion method for recognizing revenue on the project. Construction began in September of 2018 and the building was completed in June of 2020. The company provided the following additional information on the project.
| 2018 | 2019 | 2020 | |
| Costs incurred to date | $ 725,000 | $ 2,100,000 | $ 3,400,000 |
| Estimated costs to complete | $ 2,175,000 | $ 1,400,000 | $ - |
| Billings during the year | $ 800,000 | $ 1,650,000 | $ 1,150,000 |
| Cash collected during the year | $ 450,000 | $ 1,900,000 | $ 1,200,000 |
Instructions:
(1.) Prepare the journal entries for the balance sheet in each year of the project.
In: Accounting
oe's Supply Co. has the following transactions related to notes receivable during the last 2 months of 2014. Nov. 1 Loaned $20,000 cash to Sara Rondelli on a 1-year, 12% note. Dec. 11 Sold goods to Phair, Inc., receiving a $11,700, 90-day, 8% note. 16 Received an $12,000, 6-month, 9% note in exchange for Grace Tanner's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. Instructions (a) Journalize the transactions for Joe's Supply Co. (b) Record the collection of the Rondelli note at its maturity in 2015.
In: Accounting
|
Cavalier's Journals has forecast next year's demand to be 41,000. The journals are considered to incur annual fixed costs of $26,000 and per-unit variable costs of 35 cents. |
| a. |
If journals can be sold for $1 each, what is the break-even quantity?. (Round your answer to the next whole number.) |
| QBEP | units |
| b. |
If we assume that the forecast is correct, what should be the per-unit price of journals, if the company seeks to earn an annual profit of $16,000? Hint: solve for revenue (R). (Round your answer to 2 decimal places. Omit the "$" sign in your response.) |
| Price | $ |
In: Statistics and Probability
Selma produces t-shirts. From the consumers' perspective, her t-shirts are not different from t-shirts offered by other sellers. Selma sells her t-shirts at the going market price of $8 per t-shirt. Her total variable cost is $25 when she produces four t-shirts and $32 when she produces five t-shirts. Her total fixed cost is $20. What is Selma's marginal revenue from selling the fifth t-shirt? Question 36 options: $8 $10.40 $12 $7 ..
In: Economics
Early in 2021, the Excalibur Company began developing a new software package to be marketed. The project was completed in December 2021 at a cost of $102 million. Of this amount, $68 million was spent before technological feasibility was established. Excalibur expects a useful life of five years for the new product with total revenues of $170 million. During 2022, revenue of $51 million was recognized.
Required:
1. Prepare a journal entry to record the 2021
development costs.
2. Calculate the required amortization for
2022.
3. Determine the amount to report for the computer
software costs in the December 31, 2022, balance sheet.
In: Accounting