Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1, 2016. Projected sales for each of the first three months of operations are as follows: January $370,000 February 450,000 March 660,000 All sales are on account. 56% of sales are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March.Pet Place Supplies Inc.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
May
June
July
May sales on account:
Collected in May
Collected in June
Collected in July
June sales on account:
Collected in June
Collected in July
July sales on account:
Collected in July
Total cash collected
Answers
Answer:
Results are below.
Explanation:
All sales are on account.
56% of sales are expected to be collected in the month of the sale
40% in the month following the sale
4% in the second month following the sale.
Cash Collection January:
Sales on account January= 370,000*0.56= $207,200
Total cash collection= $207,200
Cash Collection February:
Sales on account January= 370,000*0.44= $162,800
Sales on account February= 450,000*0.56= $252,000
Total cash collection= $414,800
Cash Collection March:
Sales on account January= 370,000*0.04= $14,800
Sales on account February= 450,000*0.44= $198,000
Sales on account March= 660,000*0.56= $369,600
Total cash collection= $582,400
Answer:
Correct
Explanation:
Related Questions
Which of the following is something that companies are likely to engage in
with famous, well-publicized sports teams?
A. Direct marketing
B. Customer frequency programs
c. Merchandising
D. Sponsorship
SUBMIT
Answers
When can setting a savings goal help you?
Answers
Answer: it can really help you at anytime because it will help you get to your goal faster like lets say you get 10 dollars a day but you need to buy food instead of yusing all your money on food you can set aside 5 dollars into your savings to get closer to your goal
Explanation: hi
Complete the statement below by choosing either imply or infer.
Am I to from your sitting in front of the TV that you don't need to study for the exam?
Answers
Inferring that you don't need to study for the exam by watching TV, if I may assume so.
Study can also indicate research, which is a method of gaining new knowledge. Learning strategies and study skills. A room in the home that functions similarly to a home office is the study. Drawings made prior to a larger work of art are called studies. Studying is crucial for the development of personal talents in addition to schooling. Your self-esteem, competence, and confidence can all increase with effective study techniques. Furthermore, it aids in lowering tension and stress related to tests and deadlines. Active listening, reading comprehension, taking notes, managing stress, managing time, taking tests, and remembering are all skills. You learn more about historical events, current activities, and future developments by studying.
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After changes to the copyright law in 1978, for how long is intellectual property protected?
A.
the lifetime of the artist plus 70 years
B.
100 years
C.
for the lifetime of the artist
D.
in perpetuity
Answers
(214) 1. Distinguish between technical efficiency and allocative efficiency. Use the two concepts of efficiency to compare a perfect market structure with a monopoly.
Answers
Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.
Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.
When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.
In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.
Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.
Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.
Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual price per gallon $11.75 Actual gallons of material used 5,000 Actual hourly labor rate $17.00 Actual hours of production 24,300 Standard price per gallon $12.00 Standard gallons per completed unit 1/2 Standard hourly labor rate $12.00 Standard time per completed unit 3 hrs. Units completed during the period 9,000 Refer to the information provided for Efficient Corporation. The total direct labor variance is:_________.
a) $216,000 favorable.
b) $32,400 favorable.
c) $89,100 unfavorable.
d) $121,500 unfavorable.
Answers
Answer:
The option (c) $89,100 unfavorable is correct
Explanation:
Solution
Recall that:
The actual price per gallon = $11.75
Actual gallons of material used= 5,000
Actual hourly labor rate= $17.00
Actual hours of production= 24,300
Standard price per gallon =$12.00
Rate of labor = $12.00
Now,
We find the total direct labor variance which is computed as follows:
Total Direct Labor Variance = Actual Direct Labor Cost - Standard Labor Cost
=24300*17 -3*9000*12
= 413,100 -32400
= -89,100 (unfavorable)
Therefore, the total direct labor variance is $89,100
what re the art
subject
Answers
Answer:
What is your question?
Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Answers
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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For each statement about Direct Competition and Indirect Competition,
choose True or False.
Indirect Competition is a
business whose services are
different from yours but
satisfy the same need.
All Companies that sell
goods and services are
Indirect Competitors.
When your target audience
buys products from a
competitor instead from
you, that is Indirect
Competition.
Direct Competition is a
company that offers
the same thing you
offer.
1. True
2. False
Answers
Answer:
Explanation:
1) Indirect Competition is a business whose services are different from yours but satisfy the same need.
True
2) All Companies that sell goods and services are Indirect Competitors.
False
3) When your target audience buys products from a competitor instead from you, that is Indirect Competition.
False
4) Direct Competition is a company that offers the same thing you offer.
True
In selecting the target market for your gourmet tea store, you were influenced by multiple factors. These included:
Answers
These included: the level of other competitors' competition.
What does it mean to compete?When two or more parties engage in competition, they are engaged in a conflict where one party seeks to obtain an advantage at the expense of the other (an example of which is a zero-sum game). Competition may develop between several types of entities, including biology, people, economic and social organizations, etc.
What is competition? What are its advantages?A robust American economy depends on healthy market competition. According to fundamental economic theory, when businesses compete for customers, there are cheaper pricing, better products and services, more options, and more innovation.
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A major drawback with lot-for-lot sizing is?
a) high setup costs
b) low investment costs
c) low setup costs
d) high capital investments
Answers
Answer:
c is the answer I think because I just think
List five franchise dominated companies that have disappeared completely in the last twenty years and explain why they failed.
Answers
The five franchise dominated companies that have disappeared completely in the last twenty years are:
Wow Air Henri BendelCharming CharliePayless Alta Motors What was the reason they failed?Wow Air is know to be an Airline that gives cheap flights but they had issues with regards to profitability and the rising cost of buying fuel and other minor factors that made them to shut down operations.
Henri Bendel is known to be one that closed its business in 2019 sue to decline in sales as well as lack of customer interest.
Charming Charlie was known for its accessories and was said to have went bankrupt in 2019. In 2017 due to consistent reduction of physical consumer traffic.
Payless footwear chain closed its business in 2017 and filed for bankruptcy and this is been market been taken over by competition.
Alta Motors, which was an electric motorcycle maker was unable to raise fund from investors and thus had to fold up.
Therefore, The five franchise dominated companies that have disappeared completely in the last twenty years are:
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Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answers
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
Controlling is the process of assuring actual activities conform to planned activities. With an example, discuss five (5) importance of controlling.
Answers
Answer:
Controlling is the process of assuring actual activities conform to planned activities with five examples are discussed below in details.
Explanation:
Planning and controlling are intimately associated. Controlling is further pervasive than planning. Controlling benefits managers observe the effectiveness of their planning, formation, and managing activities. It not only assists in maintaining a record on the development of activities but also guarantees that activities adhere to the measures set in approach so that organizational aims are achieved.
why is eskom a monopoly?
Answers
Answer:
I don't know We will know that soon
Answer:
Eskom is South Africa's monopoly power supplier. As the result of the lack of productive and allocational inefficiency, Eskom is considered an undesirable monopoly market structure.
Explanation:
Productive efficiency takes place at a point in which the marginal cost is equal to the average cost and where the allotment efficiency is equal to the marginal cost.
The monopoly of Eskom also generates extravagant costs that reduce the output by higher prices.
Suppose that a portfolio management company manages an investment fund. The fund
manager observes a bond in the market and intends to add it to the fund portfolio. The
bond has a 100.000 TL par value, 10% coupon rate (coupon payments are annual) and a
6-years maturity. The business model is to “hold-to-maturity”. The company purchases
the bond at the beginning of the year when the market yields are 8%. After exactly 3
years of investment, market yields increase to 12%. What would be the profit or loss
amount in the income statement for that third year?
a) 1.427,92 TL loss
b) 1.470,06 TL profit
c) 8.529.94 TL profit
d) 10.000 TL loss
Answers
Answer: The correct answer is (a) 1.427,92 TL loss.
Explanation:
To calculate the profit or loss for the third year, we need to determine the market value of the bond at the end of the second year and compare it to the par value of 100,000 TL.
At the beginning of the investment, the bond has a coupon rate of 10% and a market yield of 8%, so its price is:
PV = (10000/1.08) + (10000/1.08^2) + (110000/1.08^3) = 104,406.40 TL
After 3 years, the market yield has increased to 12%, so the bond's price would have changed to reflect this new yield. To calculate the new price, we can discount the remaining coupon payments and the par value at the current market yield:
PV = (10000/1.12^1) + (10000/1.12^2) + (10000/1.12^3) + (100000/1.12^3) = 88,572.08 TL
The market value of the bond at the end of the second year is 88,572.08 TL, which represents a loss compared to the par value of 100,000 TL:
Loss = 100,000 - 88,572.08 = 11,427.92 TL
Therefore, the correct answer is (a) 1.427,92 TL loss.
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A cosmetic company created a new cream that claimed to use a well-known ingredient to reduce dark spots on skin. The cream contained just enough of the ingredient to list it on the package, but it was not enough to make the product effective.
Answers
The following scenario is an illustration of Angel dusting (Truth in Advertising)
"Angel dusting" is a dishonest marketing / advertising strategy that involves adding a little amount of an active ingredient to a cosmetic, functional ingredient, dietary supplement, food supplement, or nutraceutical, that is insufficient to make a discernible difference. Promotional materials could include benefits and usage throughout the product claims, and both of them are true. However, the customer only guesses that the product has enough of the active ingredient to work; this is not guaranteed.
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Complete Question:
A cosmetic company created a new cream that claimed to use a well-known ingredient to reduce dark spots on skin. The cream contained just enough of the ingredient to list it on the package, but it was not enough to make the product effective.
Which of the following does this scenario illustrate?
A. Angel dusting
B. Bait and switch
C. Coloring
D. Sales promotion
urendra’s personal residence originally cost $340,000 (ignoring the value of the land). After living in the house for five years, he converts it to rental property. At the date of conversion, the fair market value of the house is $320,000. As to the rental property, calculate Surendra’s basis for: Loss. Depreciation. Gain. Could Surendra have obtained better tax results if he had sold his personal residence for $320,000 and then purchased another house for $320,000 to hold as rental property? Explain. Summarize your answer to this problem in an e-mail to your instructor.
Answers
Answer:
a. Loss
When a property is converted from being for personal use to being for business use, the basis for loss is the lower of the basis after it is adjusted for its new purpose or; the fair market value.
Adjusted = $340,000
Fair market value = $320,000
Loss basis will therefore be the lower value of $320,000
b. Depreciation:
Again, when a situation arises that a personal use property is converted to business, the depreciation is the same as the loss basis. This is the same as the loss basis because the residence was converted from personal use to business use.
= $320,000
c. Gain
= Adjusted basis of the property
= $340,000
d. No.
Capital loss on personal property sales is recognized for deduction so Surendra would have incurred a loss of $20,000 had he sold the residence. He would not have obtained better tax results if he had sold the residence.
What's the key difference between term life insurance and straight-life insurance?
The value of a term life insurance policy may go up or down, but the value of a
straight-life insurance policy is always constant.
Term life insurance is cheaper than straight-life insurance, but it cannot be
renewed.
Term life insurance has no cash value at the end of the term it's bought for.
Term life insurance is generally more expensive than straight-life insurance, but
it generally offers much more.
Answers
The main difference between term life insurance and straight-life insurance is Term life insurance has no cash value at the end of the term it's bought for.
What is term life insurance?This is a life insurance policy that allows you to cover our life for a period of time. It is often cheaper than the straight-life insurance policy.
Term life insurance has a drawback however which is that it has no cash value at the end of the term. The insurance company will simply take all the cash that one has paid and give nothing back.
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What if the meaning of the cumulative EAC (cell M105) at the conclusion of Period 6?
Answers
Answer:
The meaning of the cumulative EAC ( cell M105 ) at the conclusion of period 6 is the total accumulation of the cost inquired within the period expressed as a percentage of the cost of completed tasks to the accumulating costs set aside for the entirety of the task.
Explanation:
The meaning of the cumulative EAC ( cell M105 ) at the conclusion of period 6 is the total accumulation of the cost inquired within the period expressed as a percentage of the cost of completed tasks to the accumulating costs set aside for the entirety of the task.
EAC ( estimate at completion ) is the estimation of the cost of the final cost of a project,and it is estimated based on the performance of the project at completion
a. Suppose we have a three year fixed-payment loan with $300 payments made at the end of each year. Given a market interest rate of 6 percent, how much was initially borrowed?
Answers
The amount that has been initially borrowed is $802, having an annuity payment of $300 at the end of each year and a market interest rate of 6%.
What is annuity?An annuity is a series of payments made at regular intervals in the financial world. Regular savings account deposits, monthly home mortgage payments, monthly insurance payments, and pension payments are all examples of annuities. The frequency of payment dates distinguishes annuities.
The formula for calculating the present value of an annuity which is actually the sum borrowed is :
V= A/i {1-(1+i)^-n} , where,
A= fixed payment of annuity,
i= market rate of interest, and
n = number of years
V= 300/0.06{1-(1+0.06)^-3}
= 300/0.06{1-0.8396}
= 300/0.06 × 0.1604
= $802
Therefore, $802 was initially borrowed.
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Blossom Company accumulates the following data concerning a mixed cost, using miles as the activity level.
Miles Driven Total Cost Miles Driven Total Cost
January 6,400 $11,320 March 6,800 $12,000
February 6,000 10,800 April 6,560 11,592
Required:
Compute the variable cost per mile using the high-low method.
Answers
Answer:
just add and subtract the last three numbers and theres your answer love <3
Explanation:
Lance is entering an invoice for a new item of equipment in the accounts. The invoice shows
following costs:
Water treatment equipment
Delivery
$39,800
$1,100
Maintenance charge
$3,980
Sales tax
$7,854
Invoice total
$52,734
Lance is registered for sales tax. What is the total value of capital expenditure on the invoice?
A $39,800
B
$40,900
C
$44,880
D
$52,734
Answers
The total value of capital expenditure on the invoice is $44,880. Capital expenditure is a long-term investment in a firm's assets to increase revenue or reduce costs. So, the correct answer is C $44,880.
Lance is registering an invoice for a new piece of equipment in the accounts. The invoice indicates the following costs: Water treatment equipment Delivery $39,800 $1,100Maintenance charge $3,980Sales tax $7,854Invoice total $52,734Lance is enrolled in sales tax. We have to determine the total value of capital expenditure on the invoice. Therefore, the total value of capital expenditure on the invoice is: $44,880.
The total value of capital expenditure includes the following items:
Water treatment equipment delivery and maintenance charge. The invoice total includes sales tax, which is not part of the capital expenditure. As a result, we must subtract the sales tax from the invoice total.
Invoice total = Water treatment equipment delivery + maintenance charge + sales tax$52,734 = Water treatment equipment delivery + $1,100 + $3,980 + $7,854
Water treatment equipment delivery = $52,734 - $1,100 - $3,980 - $7,854Water treatment equipment delivery = $39,800. Therefore, the total value of capital expenditure on the invoice is $39,800 + $3,980 = $44,880. So, the correct answer is C $44,880.
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which of the following are examples of short-run fixed costs? multiple select question. rent bond interest wages to labors material costs
Answers
Rental charges are an example of short-run fixed costs.
What kinds of costs are fixed in the short term?No matter how much output is produced, the company must pay these costs in the short term. Even if the company temporarily stops operating, it still has to pay these fees. Rent, insurance premiums, maintenance fees, taxes, and other costs are typically included in fixed costs.
The term "fixed costs" refers to expenses that, at least temporarily, are unaffected by the level of production. The fixed costs remain the same regardless of the amount of output. Rent for industrial or retail premises is one illustration.
In the short term, are there fixed costs?Because businesses must deal with both variable and fixed costs in the short term, it follows that output, wages, and prices are constrained in their ability to reach a new equilibrium. The idea of the short run and the long run is predicated on this fundamental premise. When opposing forces are in balance, an area of equilibrium exists.
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Your goal for a month was to keep cost of goods sold under 25% of revenues for food and drinks. Your restaurant sold $36,889 of food on costs of $11,507. Your bar sold $14,887 in drinks on costs of $1,097. Did you meet your goal?
Answers
Yes Definitely the goal was met.
What is Calculation ?Total sales equal 36889+14887 ($51776) for food and beverages.
Food and beverage expenses add up to total sales costs, which come to $1604 ($11507 + $1097).
COGS/Total Sales Revenue multiplied by 100 equals (12604/51776)/100 or (0.2434)/100, which equals 24.34% of revenue.
Less than 25% aim was achieved by the cost of goods sold, which was 24.34%. The monthly objective was therefore accomplished.
One of the major costs that restaurateurs worldwide must pay is the cost of food. Rising food prices are a constant problem for the restaurant business wherever you go. Exercise of portion management is essential in this situation for the survival of a restaurant.
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A bank is preparing a financial asset for trading in the over-the-counter market. It most nearly sounds as though they are _____. securitizing securitizing collateralizing a loan collateralizing a loan creating a derivative creating a derivative offsetting negative risk
Answers
A bank is preparing a financial asset for trading in the over-the-counter market. It most nearly sounds as though they are a derivative offsetting negative risk. The correct option is D.
What are over-the-counter financial instruments?OTC securities are those that are not listed on a national securities exchange. The majority of these securities are traded on Alternative Trading Systems (ATSs), which are quotation mediums that may include electronic interdealer quotation systems that show quotes from broker-dealers for many OTC securities.
In over-the-counter markets, trading is done electronically rather than in a physical location. An auction market system is very dissimilar from this. Dealers serve as market makers in OTC markets by quoting prices at which they will buy and sell securities, currencies, or other financial products.
Thus, the ideal selection is option D.
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If the federal government wants to encourage businesses and consumers to spend more money, it wo
A)
increase the tax rate.
B)
decrease the tax rate.
C)
increase the reserve requirement.
Eliminate
D)
decrease government spending on goods and services.
Fearing a recession the government decide
Answers
Answer:
B) decrease the tax rate.
Explanation:
Decreasing taxes results in individuals and businesses paying lower taxes to the government. Reducing taxes increases the amount of disposable income available to individuals and firms. Therefore, a decrease in taxes will have the same effects as an increase in income. Households and firms will have more money available for spending.
Decreasing taxes is one way the government may use to encourage increased spending. On the other hand, an increase in taxes results in lower disposable income for people and firms. A decrease in government spending results in fewer jobs available, which reduces incomes and consumer spending.
Security needs Physiological needs Self-actualization needs Belongingness needs Use your knowledge of the motivational theories to classify the following statements or situations into the appropriate theory. Equity theory Two- factor theory Social Reinforcement learning theory theory Example One employee is dissatisfied by low pay and poor working condition, but when the employee receives a raise and better working conditions, he has neutral feelings about his job. It is not until he gets recognition for high achievements on the job that he is satisfied. per J. Assignment. Mouvating Behavior Use your knowledge of motivation theory to select the best actions to take in the following circumstances.
Answers
In this situation, the best action to take would be to implement Equity Theory, by providing fair rewards and recognition to the employee for their high achievements. This will motivate them to continue striving for success.
The Equity Theory states that employees will be motivated when they perceive that their rewards are proportional to their efforts. This can be represented mathematically by the equation below:
Motivation = (Input/Output) x (Input/Output of Comparison)
Input is the effort and output is the reward. The comparison is the comparison of the employee’s reward and effort to that of another employee.
If the ratio of the input and output of the employee is equal to the ratio of the input and output of the comparison, then the employee is motivated. If not, then the employee needs to be given more rewards or recognition in order to be motivated.
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Mark wants a new car that costs $30,000. He only has $500 in his savings account and $300 in his checking account. Which financing option should he choose?
Answers
ANSWER: B) Lease the car with a 0 percent down payment.
EXPLANATION: The car Mark wants to buy has a price of $30,000 whereas his savings account has $500 and checking account has $300 which adds up to $800. The amount of money Mark has is only 2.66% of the cost of the car.
If he tries for option A which is buying the car with 10% down payment, then it would not have been possible as 10% of the car price would be $3,000. Mark at this moment will be short of money by $2,200.
If he tries for option B which is leasing with 0% down payment, Mark will be able own the car without paying any money and also saving the entire amount that his savings account and checking account has.
If he tries for option C which is leasing by paying 35% down payment, Mark will need $10,500. He will run short of money by $9,700.
If Mark tries for option D which is purchasing the car by paying 20% down payment, then he will need $6,000 which is impossible for Mark even if he pulls in money from both the accounts. He will run short of money by $5,200.ANSWER: B) Lease the car with a 0 percent down payment.
EXPLANATION: The car Mark wants to buy has a price of $30,000 whereas his savings account has $500 and checking account has $300 which adds up to $800. The amount of money Mark has is only 2.66% of the cost of the car.
If he tries for option A which is buying the car with 10% down payment, then it would not have been possible as 10% of the car price would be $3,000. Mark at this moment will be short of money by $2,200.
If he tries for option B which is leasing with 0% down payment, Mark will be able own the car without paying any money and also saving the entire amount that his savings account and checking account has.
If he tries for option C which is leasing by paying 35% down payment, Mark will need $10,500. He will run short of money by $9,700.
If Mark tries for option D which is purchasing the car by paying 20% down payment, then he will need $6,000 which is impossible for Mark even if he pulls in money from both the accounts. He will run short of money by $5,200.
1. Which large desert is located near Egypt?
The large desert is