Century 21 Accounting Multicolumn Journal
11th Edition
ISBN: 9781337679503
Author: Gilbertson
Publisher: Cengage
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
error_outline
This textbook solution is under construction.
Students have asked these similar questions
lending of things/money to individuals or
organizations that is expected to be paid
back on acertain time with interest.
Loan
Business Loan
Consumers Loan
Mortgage
|I>
SLIDESMANIA.COM
Case Study:
You have been appointed as a loans officer for the local state bank. One day a person walks into
the bank looking for loan to buy a new car. List items about that individual that you should find
out before making a decision whether or not to approve the loan.
Note: Provide reasons for your answer at each step.
THE END
ok
t
nces
Your friend Amber has approached you seeking advice concerning two investment opportunities that she is presently
considering. Her classmate Simone has asked her for a loan of $500 to help establish a small business; her neighbor Riley would
like to borrow $515 as a personal loan. One year from now, Amber's original investment will be returned in either case, along with
$45 of income from Simone or $48 of income from Riley. Amber can make only one investment.
Required:
a. 1. Compute the ROI of Simone and Riley.
2. Which investment would you advise Amber to make?
b. What other factors should you advise Amber to consider before making either investment?
Complete this question by entering your answers in the tabs below.
Req A1
Req A2 and B
Compute the ROI of Simone and Riley.
Note: Round your answers to 2 decimal places.
Simone
Riley
ROI
%
%
Show less A
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Continuing Case 15. Personal Balance Sheet Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes accumulating enough money towards the $10,500 down payment she needs to begin her dream of opening a cupcake café. Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation. Use the details below to complete Jamie Lee's personal financial plan to determine her financial position. Each answer must…arrow_forwardQuestion A .If Alexandra deposits $1000 from her pay cheque into her cheque account and at the same time increases her credit card balance by $1500, then her wealth: Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this linearrow_forwardQUESTION 2 Your aunt Nokhona completed her dentistry studies at Sefako Makgatho Health Sciences University not long ago. She has been operating her dental practice for six months now. She knows you are studying financial management and she asks you to help her identify possible items of monetary and nonmonetary information she should include in her monthly report. In assisting her, she needs to know items to include and examples so that she gets a better understanding.arrow_forward
- the concept "pay yourself first". With this in mind, what is your advice to someone on paying off credit card debt and investing for their retirement? Do you feel as though they should pay off all credit card debt before investing for their retirement or is it best to start investing for retirement as soon as possible? Why? * 350 word minimumarrow_forwardFind the interest earned on $5,750 deposited into a savings account for 3 1/2 years at an annual interest rate of 4 1/2% a. What formula should be used? b. What are you trying to find and what variable does it represent in the formula? c. Solve the problem showing all of your work (must show all steps!!) d. Interpet your answer using a complete sentence You may use the box below to upoload a picture of your written explanation or type it out in the box. Use the "mountain" button to add pictures.arrow_forwardSolve urgent i will rate Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, Madeline is living at home and works in a shoe store, earning a gross income of $1,220 per month. Her employer deducts a total of $300 for taxes from her monthly pay. Madeline also pays $180 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $270 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Can she currently afford the school loan? multiple choice Yes Noarrow_forward
- Group Case Study: As a loan officer in a bank, you received an application for a real estate loan from a borrower to buy an apartment in Dubai. The apartment is an unfurnished one bedroom flat situated in Park Island building (Sanibel) in Dubai Marina. Details about the property (and a comparable one sold in the same building) are presented in the following table: Property to be valued (A) Comparable Property (B) in March 2022 Sale date Selling price/value (AED) Gross annual rent (AED) January 2022 1,550,000 Annual Maintenance fees 20 20 (AED/square feet) Vacancy rate (%) Area (square feet) Price (AED/square feet) Gross annual rent (AED/square feet) Proximity to A Parking available Floor level Exterior (Building) 10 10 922 937 Same building 1. 1. high Floor to Ceiling Glass Full Marina View high Floor to Ceiling Glass Full Marina View View a. Using the market value approach, find the value of the property (A) (Suppose that the price listed is the selling price). b. Using the income…arrow_forwardREFLECTING Should Jill consider a payday loan to purchase the refrigerator? Explain. Hint APR means annual percent rate. F welding. He needs money 2. Jill is buying a new refrigerator. She cannot afford to pay cash. Should she use a credit card or get a personal loan? Justify your answer. 3. Liam, a taxi driver in Revelstoke, wants to buy a new taxi. He was approved for the loans in this chart. a) What should Liam think about when he chooses a loan? Choose a louh APR Loan secured personal loan auto loan 7.5% 5.5% b) Which loan should Liam choose? Explain why. Fixed payments for 4 yr 6 yr 4. Hannah says that using payday loans and cash advances on credit cards are bad choices for borrowing money. Do you agree or disagree? Explain.arrow_forward1. If you have a credit card: A. Pay it off each month B. Spend wisely C. Use it as a tool to gain good credit D. All of these E. None of these 2. When starting a savings plan: A. Have at least five months' income saved for emergencies B. Wait until you have acquired your career job C. Save only in months where you have extra income D. All of these E. None of these 3. Practicing good financial management while still in college benefits you because: A. Budgets keep you focused and eliminate waste B. You will most likely be earning more money once you complete your education C. Poor credit decisions will haunt you in the future D. All of thesearrow_forward
- Definition/Action Which account should they use? 6 withdrawals or transfers Checking Savings Both per month Your money can earn the most in interest in this b Checking Savings Both асcount Best for money needed in the future Checking Savings Both Good for building an emergency fund d. Checking Savings Both Limited access so you don't spend all the money in the e Checking Savings Both асcount The online version of this account usually has higher Checking interest rates f Savings Both Can use an ATM more often Checking Savings Botharrow_forwardCL- Financial forecast case You are assigned as the financial advisor of the would-be entrepreneur James Udderlie. Write a 100-wordreport of the possibilities of James getting a loan for hisnew business.Type your report below (you may attach tables /appendices / calculations as you see fit). Be mindful ofthe word limit. Do not send PDF document formatreport. You may like to consider some template toframe your answer e.g., 5 "C" (condition / collateral /capacity / character/ capital; 4 Ps (Price / Product /Promotion / Place); or SWOT (Strength / Weakness /Opportunity / Threat).arrow_forwardDirections: For each scenario, use the items in the tables to indicate whether the item will improve or decrease the individuals credit score. Then answer the question that follows. George just turned 21 and has applied for a few credit cards. Here are some details about his profileItem Improve or decrease credit scoreHe currently has 2 credit cards He got his first credit card 8 months ago He has no student loans He has applied for 4 credit cards in the last year (and had 2 applications accepted) He opened his last credit card 4 months ago All of his credit cards currently have a balance, as he has trouble paying off his card each month He has $5,000 currently outstanding on all his credit cards He missed a payment in the last three months when he forgot to notify the card company that he had recently moved out of his apartment. He was 30 days behind on making a payment. He has no cards currently past due His credit card balances of $5,000 are about 55%…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:CengagePfin (with Mindtap, 1 Term Printed Access Card) (...FinanceISBN:9780357033609Author:Randall Billingsley, Lawrence J. Gitman, Michael D. JoehnkPublisher:Cengage Learning
- PFIN (with PFIN Online, 1 term (6 months) Printed...FinanceISBN:9781337117005Author:Randall Billingsley, Lawrence J. Gitman, Michael D. JoehnkPublisher:Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage
Pfin (with Mindtap, 1 Term Printed Access Card) (...
Finance
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Cengage Learning
PFIN (with PFIN Online, 1 term (6 months) Printed...
Finance
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Cengage Learning
Portfolio return, variance, standard deviation; Author: MyFinanceTeacher;https://www.youtube.com/watch?v=RWT0kx36vZE;License: Standard YouTube License, CC-BY