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- 2 Charlie's Construction Company is a growing construction business that has a few contracts to build storefronts in Pasay. Charlie's balance sheet shows beginning assets of P1,000,000 and an ending balance of P10,000,000 of assets. During the current year, Charlie's company had a net income of P20,000,000. Compute for the company's return on assets and interpret the results.Evaluating debt safety ratio. Use Worksheet 6.1. Chloe Young is evaluating her debt safety ratio. Her monthly take- home pay is $3,320. Each month, she pays $380 for an auto loan, $120 on a personal line of credit, $60 on a department store charge card, and $85 on her bank credit card. Complete Worksheet 6.1 by listing Chloe’s outstanding debts, and then calculate her debt safety ratio. Given her current take-home pay, what is the maximum amount of monthly debt payments that Chloe can have if she wants her debt safety ratio to be 12.5 percent? Given her current monthly debt payment load, what would Chloe’s take-home pay have to be if she wanted a 12.5 percent debt safety ratio?Katherine Hunt is evaluating her debt safety ratio. Her monthly take-home pay is $3,160. Each month, she pays $350 for an auto loan, $90 on a personal line of credit, $80 on a department store charge card, and $105 on her bank credit card. Complete Worksheet 6.1 by listing Katherine's outstanding debts, and then calculate her debt safety ratio. Round the answer to 1 decimal place. Enter debt safety ratio as a percentage. % Given her current take-home pay, what is the maximum amount of monthly debt payments that Katherine can have if she wants her debt safety ratio to be 12.5 percent? Round the answer to the nearest dollar. $ Given her current monthly debt payment load, what would Katherine's take-home pay have to be if she wanted a 12.5 percent debt safety ratio? Round the answer to the nearest dollar. $
- 3. Dave's Guitar Shop is thinking about building an additional property onto the back of its existing building for more storage. Dave consults with his banker about applying for a new loan. The bank asks for Dave's balance to examine his overall debt levels. Dave's total assets is P5,000,000 while his total liabilities is P25,000. Compute Dave's debt ratio.Jamie Lee wants to determine if she can afford the monthly payments for all of her purchases before she completes the applica process. Use the information below to determine her debt payment-to-income ratio. Current Financial Situation Assets: Income: Checking account $1,900 Savings account $7,400 Gross monthly salary Net income $2,850 $2,195 Emergency fund savings account $2,900 Monthly Expenses: IRA balance $430 Rent obligation $370 Car $3,000 Utilities/Electric $80 Liabilities: Utilities/Water $50 Student loan $11,000 Utilities/Cable $75 (Jamie is still a full-time student, so Food $135 no payments are required on the loan Gas/Maintenance $140 until after graduation) Credit card payment $0 Acme Home Goods (Washer/dryer $1,650 Acme Home Goods $41 and refrigerator) Local Home Furnishings (Sofa $1,750 Local Home Furnishings $46 set) Big Box Store (52" LED HDTV) $1,150 Big Box Store $29 Automobile, Education, Personal, and Installment Loans Financial Institution or Account Number…Anthony Clement is applying for a car loan. The lending institution requires a personal net worth statement. Anthony currently has $1,085.00 in cash, and his camera is worth $635.00. He also owes Vista Travel $305.00 and Kelley Electronics $83.00. Complete a net worth statement for Anthony Clement. Select Current Date in the appropriate field. Assets should be listed in order of liquidity, so Cash should be listed first. Liabilities should be reported in alphabetic order.
- Samantha Knight is applying for a small-business loan. She provides thebank with the following information: cash in checking accounts, $5,000;cash in savings, $10,350; home market value, $145,500; first mortgageon house, $25,000; home equity loan limit, $70,000; home equity loan,$10,000; automobile market value, $19,000; automobile loan outstanding,$15,000; credit card debt, $1,500.a. Calculate the debt-to-asset ratio.b. Calculate the debt-to-equity ratio.c. What percentage of Samantha’s assets are owned by others?Chloe Young is evaluating her debt safety ratio. Her monthly take-home pay is $3,320. Each month, she pays $380 for an auto loan, $120 ona personal line of credit, $60 on a department store charge card, and $85 on her bank credit card. Complete Worksheet 6.1 by listing Chloe’s outstanding debts, and then calculate her debt safety ratio. Given her current take-home pay, what is the maximum amount of monthly debtpayments that Chloe can have if she wants her debt safety ratio to be 12.5 percent? Given her current monthly debt payment load, what would Chloe’s take-home pay have to be if she wanted a 12.5 percent debt safety ratio?As part of the review of her business Rita has been looking into what she is owed by various customers and how many debts are outstanding. Rita has been able to gather the following information about her customers and credit sales. Rita has reached out to an old University friend to get some advice about the likelihood of the amounts owed to her being uncollectible. Age of Customer Debt Amounts owed Estimate of % that (including GST) will not be collected. 1-30 days overdue 14,107.50 5% 31– 180 days overdue 6,204.00 16 % 181 – 365 days overdue 2,458.50 25 % 1 year + overdue 517.00 100 % 23,287.00 Perfect Cover Insurance Brokers sales data for the past year is $42,900 $11,600 $ 2,400 (returns are only available on credit sales) Čredit Sales and Commissions Cash Sales and Commissions Sales Returns Industry data shows that 5% of credit transactions are likely to go bad. Rita has also informed you that the current balance in her allowance for doubtful debts account is 500 Dr after a recent…
- As part of the review of her business Rita has been looking into what she is owed by various customers and how many debts are outstanding. Rita has been able to gather the following information about her customers and credit sales. Rita has reached out to an old University friend to get some advice about the likelihood of the amounts owed to her being uncollectible. Age of Customer Debt Amounts owed Estimate of % that (including GST) will not be collected. 1-30 days overdue 14,107.50 5% 31– 180 days overdue 6,204.00 16 % 181 – 365 days overdue 2,458.50 25 % 1 year + overdue 517.00 100 % 23,287.00 Perfect Cover Insurance Brokers sales data for the past year is Credit Sales and Commissions $42,900 $11,600 $ 2,400 (returns are only available on credit sales) Cash Sales and Commissions Sales Returns Industry data shows that 5% of credit transactions are likely to go bad. Rita has also informed you that the current balance in her allowance for doubtful debts account is 500 Dr after a recent…Samantha Knight is applying for a small-business loan. She provides the bank with the following information: cash in checking accounts, $5,000; cash in savings, $10,350; home market value, $145,500; first mortgage on house, $25,000; home equity loan limit, $70,000; home equity loan, $10,000; automobile market value, $19,000; automobile loan outstanding, $15,000; credit card debt, $1,500. Calculate the debt-to-asset ratio. Calculate the debt-to-equity ratio. What percentage of Samantha's assets are owned by others?I need help for D, E, and G please You are a loan officer at the West Elm Savings and Loan. Mr. and Mrs. Brady are in your office to apply for a mortgage loan on a house they want to buy. The house has a market value of $170,000. Your bank requires 1/5 of the market value as a down payment. (a) What is the amount (in $) of the down payment? $ (b) What is the amount (in $) of the mortgage for which the Bradys are applying? $ (c) Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment? $ (d) What is the total amount (in $) of interest that will be paid over the life of the loan? $ (e) Your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. If the property tax is $1,710 per…
