How to save money on life insurance: Personal Finances
If you have purchased term life insurance through your employer, your policy will only be in tact if you stay with the company. Life insurance companies tend to give employers excellent rates on life insurance because they can offer … read more…
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With the right advice you’ll buy term life insurance at an affordable rate on sufficient coverage. However, if you get the wrong tips, even though you may still make huge savings, you will do so by downgrading the quality of coverage … read more…
Best Term Life Insurance Rate: Steer Clear Of Professions That Are …
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Cheap Term Life Insurance
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From GoArticles.com
Open Question: ha who can i answer this 
?
Using the information provided for Florek Industries Inc.. answer questions 4 through
10 (round all calculations to the nearest whole dollar) and ignore income taxes.
Florek Industries Inc.was incorporated March 1, 2008. The cash activity transactions
since the date of incorporation have been summarized as follows:
Receipts:
Receipts from customers $80,000
Government incentives received 8,000
Cash investment by Florek shareholders 60,000
Bank loan proceeds 50,000
$198,000
Disbursements:
Wages paid to employees $38,000
Interest paid 1,937
Cash refunds to customers 900
Paid to Mr. Florek for salary 12,000
Paid to suppliers for inventory 42,500
Insurance premium paid 6,000
Paid to landlord for rent 30,000
Purchase a 3-year term deposit 10,000
Paid for equipment purchase 15,000
Other operating expenses paid 6,000
$161,737
Other information for the first year of operations follows:
1. Sales invoices (not including refunds or returns) for the year total $150,000.
All sales are on account.
2. The total cost of the equipment was $32,500; and was paid for with a cheque
in the amount of $15,000, as shown above, with the balance to be paid in 5
years. This note requires quarterly interest payments based on an interest rate
of 5.00%. The purchase was made June 30, 2008; and the note is not shown
above as management was unsure how to report this amount as no cash was
received or paid.
The equipment itself is estimated to have a 5-year useful life, and no residual
value. It is to be depreciated using the straight-line method.
3. The insurance premium was for a two-year policy with coverage beginning
April 1, 2008. The premiums were paid on March 15, 2008.
4. The 3-year term deposit was purchased on September 1st. This deposit will
earn 4.00% interest for each of the 3 years, with the interest being deposited to
the company’s bank account on each anniversary date.
5. As of the end of the year Florek management estimates that the following
amounts were outstanding at year end:
a. Utilities $6,000
b. Inventory suppliers $4,000
c. Other operating costs $5,000
6. Inventory on hand at the end of the year is estimated to be $8,000
7. Rent payments include rent for the last 2 months of the two-year lease. The
lease term is from March 1, 2008 to February 28, 2010.
8. $40,000 of the cash invested by the shareholders was used to purchase 100
common shares of the company. Any unallocated amounts received from the
shareholders are to be considered as a non-interest bearing loan from the
shareholders.
9. The bank loan proceeds of $50,000 were received on June 30, 2008. The
interest rate on this 1 year loan is 6.00%; with interest payments due semiannually.
10. The employees last pay date was December 24, 2008 for work completed to
that date. The next payroll will be January 7, 2009. Average weekly payroll
is $6,000.
11. Florek Industries Inc. has a fiscal year end date of December 31st.
4. What is the total net revenue earned from customers for the year ended December
31st?
a. $ 79,100
b. $ 178,000
c. $ 87,100
d. $ 149,100
5. What amount should be reported as depreciation expense on the income
statement?
a. $3,250
b. $1,500
c. $1,750
d. $6,500
6. What amount should be reported as Interest Revenue for the year ended
December 31, 2008?
a. $133
b. $120
c. $200
d. $400
7. Assuming no further borrowing, what will be the interest expense reported in
2009?
a. $2,375
b. $1,938
c. $7,750
d. $ 3,000
8. What amount should be reported as Rent Expense for the year ended December
31, 2008?
a. $30,000
b. $35,000
c. $25,000
d. $20,000
9. What is the amount of total liabilities that should be reported on the December
31st Balance Sheet for Florek Industries Inc.?
a. $ 88,500
b. $ 90,500
c. $108,500
d. $ 93,500
10. Ignoring your answer from question 4, assuming net sales for year are $94,250
what amount should be reported as the Gross Margin?
a. $51,750
b. $55,750
c. $46,950
d. $63,750
e. $39,750
4:a=5:a=6:a=8:d=10:b
Resolved Question: Math homework questions.. answers needed please asap?
25) A charge card charges a minimum of $10.00 or 2% of the outstanding balance. Your outstanding balance is $400.00 . What must you pay ?
26) Your unpaid balance is $2,750.00 .
Your card has a minimum of $10.00 or 2% of the outstanding balance.
What must you pay ?
27) A credit card charges a daily periodic rate of 0.05318% .
What are the monthly and yearly rates ?
28)
29) You have a single – payment loan for $3,500.00 for 270 days at 9% annual interest.
What is the interest amount and the money due at the end of the loan ?
30) You have a single – payment loan for $10,500.00 for 123 days at 15% annual interest.
Calculate interest due and the repayment amount .
32) You have written a check for $39.95 . You have recorded it in your check register. What amount would you record using the quick method ?
33) You have written a check for $43.75.
What would you record using the quick method?
35) Calculate the simple interest on $2,000.00 at 11% APR for 1 year .
36) Calculate the simple interest on $1,500.00 for 8 months at 6% annual interest .
37) Calculate the simple interest on $1,500.00 for 55 days at 2 ½ % annual interest.
38) You buy Cisco stock at $17 a share and sell it at $14 a share .
What did you experience?
39) You purchased shares for $15 each . They are paying a $0.75 dividend .
What is the annual yield ?
40) You have made $3,000.00 on the sale of your stock .
The original cost of the stock was $15,000.00 .
Find the percentage of increase .
41) You have purchased a $10,000.00 bond at 85% paying 7% .
Calculate cost of the bond.
42) You have purchased a $10,000.00 bond at 85% paying 7% .
Calculate the interest paid.
43) You have purchased a $10,000.00 bond at 85 % paying 7% .
Calculate the annual yield.
44) A health plan costs $5,200.00 for each employee .
Your employer will pay 80 % of this cost .
What will you have to pay ?
45) Annual Premium per $1,000 of Life Insurance: 5 year Term
Age Male Female
50 $ 5.84 $4.82
55 $ 8.81 $6.60
60 $13.22 $9.71
You are a 50 – year -old male .
You want to purchase $400,000.00 of term life insurance .
What is the yearly cost ?
46)Annual Premium per $1,000 of Life Insurance: 5 year Term
Age Male Female
50 $ 5.84 $4.82
55 $ 8.81 $6.60
60 $13.22 $9.71
You are a 60 – year -old female.
You want to purchase $400,000.00 of term life insurance.
What is the yearly cost ?
48) You paid the bank $142,560.00 over 20 years .
You borrowed $90,000.00 .
How much interest did you pay ?
49) A new car sticker shows a base price of $29,999.00 and options totaling $4,999.00 . The destination charge is $325.00 .
Your research shows you that the dealer’s cost is 90 % of the base
and 85 % of the options .
What is the dealer’s cost ?
50) You have rented a truck . You are paying $49.99 a day for seven days.
You are paying $0.99 a mile . You drive the truck 765 miles.
You pay $85.00 to fill the tank with gas when you return the truck.
What is your total cost for renting ?
Resolved Question: Life insurance rates in CA vs TX?
for the same coverage (i.e. $500K 30 years term life) is life insurance cheaper in CA or in TX? We are going to be moving to TX in the next couple of months, and we want to buy life insurance. I’d like to know if we are better of buying it here in CA or wait till we get to TX.
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- You have made $3 000 00 on the sale of your stock The original cost of the stock was $15 000 00 Find the percentage of increase
- You have purchased a $20 000 00 bond at 85% paying 7% APR Calculate cost of bond
- You have written a check for $39 95 You have recorded it in your check register What amount would you record using the quick method?
- the unpaid balance on your charge card is $5 000 00 your card has a minimum of $10 00 or 2% of the outstanding balance what must you pay?
- Your unpaid balance is $2 750 00 Your card has a minimum of $10 00 or 2% of the outstanding balance What must you pay?
- Calculate the simple interest on $1 500 00 for 55 days at 2 ½ % APR
- You have a simple payment loan of $1500 00 at an annual rate of 15% for 270 days Calculate the interest due
- You have purchased a $10 000 00 bond at 66% paying 7% APR Calculate interest
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- You have written a check for $43 75 What would you record using the quick method?
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