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Audrey A.

Financial Consultant, 8+ Years Tutoring Experience

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ACT

TutorMe

Question:

A dog walking service charges $12 per hour plus a $2.50 pick up fee. Allison paid $67.50 to have her dog walked 3 times last week. How many total hours was Allison's dog walked for?

Audrey A.

Answer:

In order to answer this question we need to figure out how much Allison paid for JUST the dog walking and divide that number by $12/hour. How do we figure out how much she paid for the dog walking? We take her total of $67.50 and subtract out the pick up fees. We know her dog was walked 3 times and each pick-up costs $2.50. Thus, Allison paid: 3 * 2.50 = $7.50 in pick up fees. Now, we'll subtract the $7.50 pick up fees from her total. $67.50 - $7.50 = $60 So, now we know that Allison paid a total of $60 for the dog walking (not including the pick up fees). She pays $12 per hour so we will divide $60 by the $12/hour to find how many hours the dog was walked. $60 / $12 = 5 Thus, the dog was walked for 5 hours.

Finance

TutorMe

Question:

A company has a current asset balance of $80,000, a current liability balance of $15,000 and a property, plant & equipment balance of $135,000. What is the company's current ratio and is what does that ratio say about the company's financial health?

Audrey A.

Answer:

In order to successfully answer this question, we first need to understand what the current ratio is. The current ratio helps determine if a company can pay back its liabilities with it's assets and is calculated as follows: Current Ratio = Current Assets / Current Liabilities The higher this ratio is, the more capable the company is of paying back its debt, because there is a larger proportion of assets to liabilities. So, let's apply this information to the question. First we'll solve for the current ratio: Current Ratio = $80,000 / $15,000 = 5.33 Don't be fooled by the excess information offered in the question. We are told there is a PPE balance of $135,000, but we don't need this information to solve for the current ratio. Now we'll address the second part of the question. What does the ratio say about the company's financial health. We know the company has a current ratio of 5.33. This means we have 5.33 times the amount of current assets as we do current liabilities. This would indicate the company is financially healthy.

Algebra

TutorMe

Question:

Please solve the following equation: 12 * 3 - (3+1)

Audrey A.

Answer:

When solving algebraic equations always remember the order of operations, PEMDAS. This phrase will help you remember the order: "Please Excuse My Dear Aunt Sally." It stands for Parentheses, Exponents, Multiplication and Division, and Addition and Subtraction. You will always follow this order when solving an algebraic equation. So, Parentheses are first. Do we have any parentheses? Yes. Let's solve what's in the parentheses: 12 * 3 - (3+1) becomes 12 * 3 - 4 What's next? Exponents. Do we have any exponents? No. So, we move on to the next operation, Multiplication and Division. Do we have any Multiplication or Division? Yes, we have multiplication. Let's solve the numbers being multiplied. 12 * 3 - 4 becomes 36 - 4 What's next? Addition and Subtraction. Do we have addition or subtraction? Yes, we have addition. Let's add our final two numbers: 36 - 4 equals 32 Thus, 12 * 3 - (3+1) = 32

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