Lizzie asks…
Live in mountain town & make nothing or live in city and make what i’m worth?
I currently live in one of the best, most beautiful places in the country (if you ask me). It’s a small town of 10,000 people and most of our economy is based on ranching and tourism. I love living here as I am able to bike, hike and cross country ski out my back door. I have close friends and have made a good name for myself among the business professionals. The only problem is that good paying jobs are hard to come by. The average salary is $28,000 and the average home is around $280,000. My current salary is more than average (not by much), and my employer doesn’t provide any benefits or time off. I am getting my masters with the hope of teaching at the local college (which pays much less than any other colleges), and maybe someday my Phd to get tenure. My question is, do you live in beauty and make next to nothing, or do you live in the city and make a descent living? I would someday like to have a house and a family and not worry about living paycheck to paycheck. thoughts?
the town i live in is 2 hours from any big city. I will hopefully be getting my phd from a city 4 hours away (LONG commute) or I will be moving 🙁
Nagesh answers:
Millions of Americans live in tiny towns where opportunities are also tiny, but they do it for the reasons you enumerate. They also do it because they believe their children will gain more from the experience of living this way than they would gain from more money.
Millions of other Americans choose the exact opposite. And, they believe they’re living the best life, and that their children will gain from more opportunities of all types.
In other words, although we probably all understand your dilemna, we’ve made our decision on similar issues based on our own unique situations and value structures. Unfortunately, you need to do exactly the same. Regardless of which decision you make, rest assured that you can make an excellent life for yourself and for any future family. Other people do exactly that and you are probably at least as capable as the vast majority.
Daniel asks…
What Should I Be ??????????
I am stuck in what to be when im older , based on the subjects i do what career would be best for me ?
Irish : common level
English: Higher Level
Maths:Common Level
science:Higher Level
Business Studies: Higher Level
Geography: Higher Level
Home Economics : Higher Level
French: Higher Level
Cspe: Common Level
History : Common Level
Thanks 🙂 , And No Nasty Comments =] xxx
Nagesh answers:
You cant really listen to people on here because they are based on “higher level and common level” and your avatar thing. When the job hits you, it hits you. There’s often times a moment where you have to discover yourself and do what you like. Don’t be a doctor or lawyer just because they are reputable. My cousin went to school to be an architect, and came out a pilot. That’s what he always wanted to do but always thought it was just a dream. I know this is a MAJOR cliche, but go for your dreams!
Nancy asks…
Accouting help?
I am at my wedding in florida and i have accounting homework, its a take home quiz of 10 questions. If anyone can help me with any of these i would greatly appreciate it, its due tonight and i am honestly pooped from the wedding so please help. It is a multiple choice quiz
1. Chapter 1—Introduction to Accounting and Business Question MC #70
(Points: 2)
Al Shea is a stockholder and operator of SawTooth Company. As of the end of its accounting period, December 31, 2007, SawTooth Company has assets of $925,000 and liabilities of $285,000. During 2008, Al Shea invested an additional $50,000 in exchange for capital stock and was paid dividends in the amount of $30,000 from the business. What is the amount of net income during 2008, assuming that as of December 31, 2008, assets were $980,000, and liabilities were $255,000?
1. $725,000
2. $ 95,000
3. $ 65,000
4. $165,000
Save Answer
2. Chapter 1—Introduction to Accounting and Business Question MC #32
(Points: 2)
The objectivity principle requires that
1. amounts recorded in the financial statements must be based on independently verifiable evidence
2. accounting principles must meet the objectives of the Security and Exchange Commission
3. the Financial Accounting Standards Board must be fair and unbiased in its deliberations over new accounting standards
4. business transactions must be consistent with the objectives of the entity
Save Answer
3. Chapter 1—Introduction to Accounting and Business Question MC #20
(Points: 2)
Which of the following is the best description of accounting’s role in business?
1. Accounting provides stockholders with information regarding the market value of the company’s stocks.
2. Accounting provides creditors and banks with information regarding the credit risk rating of the company.
3. Accounting provides information to managers to operate the business and to other stakeholders to make decisions regarding the economic condition of the company.
4. Accounting is not responsible for providing any form of information to stakeholders. That is the role of the Information Systems Department.
Save Answer
4. Chapter 1—Introduction to Accounting and Business Question MC #67
(Points: 2)
Land, originally purchased for $20,000, is sold for $75,000 in cash. What is the effect of the sale on the accounting equation?
1. assets increase $55,000; stockholders’ equity increases $55,000
2. assets increase $75,000; liabilities decrease $20,000; stockholders’ equity increases $55,000
3. assets increase $20,000; no change for liabilities; stockholders’ equity increases $75,000
4. assets increase $75,000; stockholders’ equity increases $75,000
Save Answer
5. Chapter 1—Introduction to Accounting and Business Question MC #57
(Points: 2)
If total assets decreased by $47,000 during a period of time and stockholders’ equity increased by $24,000 during the same period, then the amount and direction (increase or decrease) of the period’s change in total liabilities is
1. $71,000 increase
2. $71,000 decrease
3. $23,000 increase
4. $47,000 decrease
Save Answer
6. Chapter 2—Analyzing Transactions Question MC #90
(Points: 2)
June26Equipment
14,000
Cash
4,000
Note Payable
10,000
????????????
Which is the best explanation for this journal entry?
1. Purchased equipment on credit.
2. Purchased equipment, paid cash of $4,000, with the remainder to be paid in payments
3. Purchased equipment, paid cash of $4,000, with the remainder to be received in the future.
4. Purchased equipment, paid cash for the entire amount
Save Answer
7. Chapter 2—Analyzing Transactions Question MC #59
(Points: 2)
XYZ Hospital purchased X-ray equipment for $3,000, paid $750 down, with the remainder to be paid later. The correct entry would be
1. Cash 750
Accounts Payable 2,250
Equipment 3,000
2. Equipment 3,000
Accounts Payable 2,250
Cash 750
3. Equipment 750
Cash 750
4. Equipment Expense 3,000
Accounts Payable 750
Cash 2,250
5. Cash 750
Equipment 750
Save Answer
8. Chapter 2—Analyzing Transactions Question MC #12
(Points: 2)
Which of the following types of accounts have a normal credit balance?
1. assets and liabilities
2. liabilities and expenses
3. revenues and liabilities
4. capital stock and dividends
Save Answer
9. Chapter 2—Analyzing Transactions Question MC #36
(Points: 2)
Cash was paid by J’s Appliance Repair to creditors on account. Which of the following entries for J’s records this transaction?
1. Cash, debit; Capital Stock, credit
2. Accounts Payable, debit; Cash, credit
3. Accounts Payable, debit; Account Receivable, credit
4. Accounts Receivable, debit; Cash, credit
Save Answer
10. Chapter 2—Analyzing Transactions Question MC #28
(Points: 2)
A debit balance in which of the following accounts would indicate a likely error?
1. Notes Payable
2. Dividends
3. Supplies
4. Salaries Expense
Save Answer
Nagesh answers:
Qn 1
3. $ 65,000
Qn 2
1. Amounts recorded in the financial statements must be based on independently verifiable evidence
Qn 3
3. Accounting provides information to managers to operate the business and to other stakeholders to make decisions regarding the economic condition of the company.
Qn 4
1. Assets increase $55,000; stockholders’ equity increases $55,000
Qn 5
3. $23,000 increase
Qn 6
2. Purchased equipment, paid cash of $4,000, with the remainder to be paid in payments
Qn 7
2. Dr Equipment 3,000
Cr Accounts Payable 2,250
Cr Cash 750
Qn 8
3. Revenues and liabilities
Qn 9
2. Accounts Payable, debit; Cash, credit
Qn 10
1. Notes Payable
Congratulations on your wedding:-)
Mark asks…
Living in Guangzhou China?
I am American going to teach ESL in Guangzhou. I have a few questions about it…
1) What is the best way of paying a student loan back home, Western Union to family or Chinese bank transfer to American bank and pay online? I hear bank transfers are hard to get done.
2) What kind of adapter for my laptop modem if needed? ADSL seems like what I would get, or could afford.
3) Base salary is 7000 RMB + 1000 housing allowance, nothing provided and have to send 1400 RMB for the student loan. So I will have 6600 RMB to live minus taxes. The school offers free lunch and dinner to teachers if working at the facility. I might be able to defer my loan with my savings for 6 months with a prepayment. Is that enough to live well, do a trip to the Great Wall, maybe see Shanghai/Hong Kong?
4) I don’t get paid until the 1st of the 2nd month, how much money to get from the ATM for 1st month? I do not know my rent but the apartment will be furnished single bedroom and shown to me by the school.
5) Which is the best bank to do business with when I set up my account? Will it be hard for me to close it when I am ready to leave?
Nagesh answers:
A chinese offers the following answer:
1. Western Union is easy and convenient but more fee for each transfer. Bank transfer for small amount of money is allowed but if you do not understand Chinese, doing so may require extra energy from you.
2. In China the standard voltage is 220v voltage.
3. 6600 RMB for a month is quite enough to live well in Guangzhou. Travelling to Hong Kong from Guangzhou is very easy and will not cost much. With 6600 RMB per month you can afford travelling to Beijing every two months. The average income for Guangzhou office workers is around 4000 RMB minus tax.
4. It depends on what kind of figure you are. A Chinese college student newly entering the career can get along with1000 RMB for the food, traffic, and renting appartment. I think 2000 RMB will be enough for your first month since you do not need to pay the rent, lunch and dinner. Of couse if you need to buy something for your dormitory, that is another case.
5. I think the China Merchants Bank is the best bank of China. They offer the best service in my opinion. But the outlets of CMB is not as many as those of Bank of China, which is also the most internationalized bank in China, ICBC, ABC, etc.
Hope the answer is useful for you.
Discover China:
http://www.hugchina.com
Carol asks…
Should I let them foreclose?
I bought my home a year ago when my husbands business was doing well. It no longer is. We have almost no money left. A couple of hundred to maybe feed our two children. We had an extremely high interest on an 80/20 loan. Yes, my fault but I could care less about fault right now. Market is shit right now and the house wont sell. 2 months behind on mortgage with NO ability to pay anytime in the future either. We were denied child care assistance because they based our income on hubbys last year tax return. So me working is of no help. After day care, I would be bringing home about $200. The stress is just putting both of us into an early grave. Is foreclosure the best option? Our credit is shot due to all the recent late payments.
Nagesh answers:
Try a short sale first, if the market is that bad. Maybe someone would be interested in buying the home for cheap, and the bank may agree to the lower payoff, if it means avoiding the foreclosure process.
If that doesn’t work, offer the bank a deed in lieu of foreclosure. That’s where you give the property back voluntarily and the lender does not foreclose. They accept the property as payment for the loan, and you can move out and your credit won’t be as terrible as it would be if you just let them foreclose.
Letting the house go into foreclosure is probably the last option you want, even if you have no intention on saving the home. Try some other options first, and then let it go as a last resort.
Powered by Yahoo! Answers
