Estimate Friendly Financials revenues for the coming year

Assignment Help Accounting Basics
Reference no: EM133114956

Question - Friendly Financial has $180 million in consumer loans with an average interest rate of14 percent. The bank also has $108 million in home equity loans with an average interest rate of 9 percent. Finally, the company owns $23 million in corporate securities with an average rate of 6 percent.

Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $202 million and the interest rate will fall to 12 percent. They also estimate that its home equity loans will fall to $100 million with an average interest rate of 11 percent, and its corporate securities portfolio will increase to $31 million with an average rate of 8 percent.

Required - Estimate Friendly Financials revenues for the coming year.

Reference no: EM133114956

Questions Cloud

Explain the relative abundances of the elements : Explain the relative abundances of the elements in the universe, the solar system and in planets, including their distributions in earth's core, crust and atmos
Calculate total noncurrent assets : Question - The following information is taken from the records of Cayenne Consulting. Calculate total noncurrent assets
Describe the photochemistry of stratosphere : Describe the physical properties of the atmosphere and the differences in chemical composition of various layers and Describe the photochemistry of stratosphere
Write a report for Perry about the advisability : The total of doubtful accounts for a given year is $48,000. Write a report for Perry about the advisability of following any of these alternatives
Estimate Friendly Financials revenues for the coming year : The bank also has $108 million in home equity loans with an average interest rate of 9 percent. Estimate Friendly Financials revenues for the coming year
Explain the concepts of molecularity : Explain the concepts of molecularity and order of a reaction, the effect of concentration and temperature on reactions, and relate these to reaction mechanisms
Outline the use of crystal field theory : Understand the fundamentals of ligand-metal interactions and hence the thermodynamic stability of complexes
Prepare the January journal entry to record the declaration : Spencer Corporation declared a 10% stock dividend on January 1, 2020, Prepare the January journal entry to record the declaration
Calculate the expected operating income for next month : The selling price per unit is $240, the variable cost ratio is 65% and fixed costs are $40,000. Calculate the expected operating income for next month

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss the mean for financial transactions

Write and Complete all Journal Entries, T-accounts, and the the Trial Balance.

  What is the efficiency usage variance

Milton Company uses a standard cost system. For direct labor, what is the efficiency (usage) variance? Answers are labeled as favorable (F) or unfavorable (U).

  Preparing financial statements for the fiscal year

(Expenditure accruals) Nickamigo County is preparing financial statements for the fiscal year ended June 30, 2012.

  Tudor company acquired 500000 of carr corporation bonds for

tudor company acquired 500000 of carr corporation bonds for 487706.69 on january 1 2013. the bonds carry an 11 stated

  Prepare the journal entries to record the acquisition

Prepare the journal entries to record the acquisition of the depot and the accrual for the asset retirement obligation for the depot on July 2, 2021

  How does this transaction affect the accounting equation

On January 2nd, she writes a check for $1500 for January's rent. How does this transaction affect the accounting equation

  What amount approximately will the market value of the stock

If the corporation issues a 4-for-1 stock split, what amount approximately will the market value of the stock fall to

  Beagle corporation has 20000 shares of 10 par common stock

beagle corporation has 20000 shares of 10 par common stock outstanding and 10000 shares of 100par 6 cumulative

  How do you calculate direct labor cost and manufacturing

how do you calculate direct labor cost and manufacturing overhead applied cost when only direct material used and total

  Watson township plans to build an auditorium

Watson Township plans to build an auditorium. The plans were drawn for $ 100,000 by an architect who will complete the plans and bill the city after the bonds are issued.

  Compute the uncollectible account expense

Compute the uncollectible account expense, and make the appropriate journal entry, for the current year

  Reporting service performance information

This assignment is based on the AASB Exposure Draft ED270, Reporting Service Performance Information, published in August 2015 by the Australian Accounting Standards Board (AASB). You can find a copy of this Exposure Draft and other useful documen..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd