Which of the following statements is incorrect?
a. Adjustments to prepaid expenses, depreciation, and unearned revenues involve previously recorded assets and liabilities.
b. Accrued expenses and accrued revenues involve assets and liabilities that had not previously been recorded.
c. Adjusting entries can be used to record both accrued expenses and accrued revenues.
d. Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time.
e. Adjusting entries affect the cash account.

Answers

Answer 1

my brain can't process this lol


Related Questions

Von Bora Corporation is expected pay a dividend of $1.40 per share at the end of this year and a $1.50 per share at the end of the second year. You expect Von Bora's stock price to be $25.00 at the end of two years. Von Bora's equity cost of capital is 10%. The price you would be willing to pay today for a share of Von Bora stock, if you plan to hold the stock for two years is closest to:

Answers

Answer:

Price of share today = $23.17

Explanation:

The value of a stock using the dividend valuation model, is the present value of the expected cash inflows discounted at the required rate of return. The required rate of return is the cost of equity.

The cost of equity is 10% in this scenario

The price of the share will be determined as follows:

                                                                                  $

Present value of Dividend in yr 1 = 1.40× 1.1^(-1)=    1.27

Present value of Dividend  in yr 2 = 1.50 × 1.1^(-2)=1.24

Present value of share in yr 2 = 25× 1.1^(-2) =       20.66

Present value of total  cash inflow                         23.17

Price of share today = $23.17

Stocks are considered as a financial instruments that represents a firm's ownership stake. Stocks are tool for investors to grow their money and surpass inflation over time.

 

The computation of the capital gain for the first year is shown below;

Current value = Future dividend and value × Present value of discounting factor(rate%, time period)

= $1.4 ÷ 1.1  + $1.5 ÷ 1.1^2 + $25 ÷ 1.1^2

= $23.15

Hence, the capital gain for the first year is $23.15

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Cora purchased a hotel building on May 17, 2020, for $3,000,000. Determine the cost recovery deduction for 2021. a.$76,920 b.$69,000 c.$48,150 d.$59,520

Answers

Answer: $76920

Explanation:

Firstly, we should note that the hotel building is simply non residential and then qualifies to be part of 39 year property.

Then, the cost of recovery will be:

= 1/39 × Cost of the hotel

= 1/39 × $3,000,000

= $76,920

Therefore, the cost recovery deduction for 2021 is $76,920

TaeHwan Company accrues bad debt expense during the year at an amount equal to 3% of credit sales. At the end of the year, a journal entry adjusts the allowance for uncollectible accounts to a desired amount based on an aging of accounts receivable. At the beginning of 2018, the allowance account had a credit balance of $18,000. During 2018, credit sales totaled $480,000 and receivables of $14,000 were written off. The year-end aging indicated that a $21,000 allowance for uncollectible accounts was required. TaeHwan's bad debt expense for 2018 would be:

Answers

Answer: $17000

Explanation:

TaeHwan's bad debt expense for 2018 would be calculated as the difference between the desired year end balance and the beginning balance written off. This will be:

= $21000 - ($18000 - $14000)

= $21000 - $4000

= $17000

Therefore, TaeHwan's bad debt expense for 2018 would be $17000.

What are the main tools organizations use to track the progress of a plan?
A. Goals and objectives
O B. Schedules and budgets
C. Customer satisfaction surveys
O D. Sales and revenue

Answers

A) goals and objectives

Answer:

schedules and budgets

Explanation:

Zoom Enterprises expects that one year from now it will pay a total dividend of million and repurchase million worth of shares. It plans to spend million on dividends and repurchases every year after that​ forever, although it may not always be an even split between dividends and repurchases. If​ Zoom's equity cost of capital is and it has million shares​ outstanding, what is its share price​ today?

Answers

Answer:

The share price is $15.67 per share

Explanation:

The above mentioned question is missing few components. I have added them to explain on how the question would be solved if all the variables were provided. Please note the additions in bold text below. The answer of which is given afterwards.

Zoom Enterprises expects that one year from now it will pay a total dividend of $4.7 million and repurchase $4.7 million worth of shares. It plans to spend $9.4 million on dividends and repurchases every year after that​ forever, although it may not always be an even split between dividends and repurchases. If​ Zoom's equity cost of capital is 12.5% and it has $4.8 million shares​ outstanding, what is its share price​ today?

Solution mentioned below:

First we calculate the value of the enterprise by dividing the amount planned to be spent on dividends from cost of capital.

= $9.4 million / 0.125

= $75.2 million

Now to calculate price per share we divide the Enterprise value from the share outstanding.

= $75.2 million / $4.8 million

= $15.67 per share

Cisco Systems Inc. reported the following in its income statement for the year ended July 30, 2016: Basic earnings per share of $2.13 and diluted earnings per share of $2.11. There were 5,053 million weighted average basic shares were outstanding during the year. What approximate net income, did the company report for 2016

Answers

Answer:

$10,762,890

Explanation:

Earnings per Share = Net Income attributable to Common Stock holders ÷ Weighted Average Number of Common Stocks

Now, since we have basic earnings per share we an use that to find net income. Net Income is Profit after tax and interest and only available in basic earnings per share calculation.

Net Income attributable to Common Stock holders = Earnings per Share x weighted average basic shares = ($2.13 x 5,053,000) = $10,762,890

All details related to an employee's earnings deductions and net pay throughout the year would be found in

Answers

Answer:

All details related to an employee's earnings deductions and net pay throughout the year would be found in the individual earnings record.

Explanation:

A random Quizlet had the answer when I searched the question up lol

Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. The company has determined the following

Machine A could be purchased for $69,000. It will last 10 years with annual maintenance costs of $2,200 per year. After 10 years the machine can be sold for $7,245.
Machine B could be purchased for $57,500. It also will last 10 years and will require maintenance costs of $8,800 in year three, $11,000 in year six, and $13,200 in year eight. After 10 years, the machine will have no salvage value.

Required:
Assume an interest rate of 8% properly reflects the time value of money in this situation and that maintenance costs are paid at the end of each year. Calculate the present value of Machine A & Machine B. Which machine Esquire should purchase?

Answers

Answer:

Esquire should purchase Machine B

Explanation:

Below is the calculation of the present values of Machine A & Machine B.

Machine A             Period    Amount    Present Value Factor   Present Value

Purchase Cost            0         ($69,000)                  1                        ($69,000)

Maintenance Cost    1 - 10      ($2,200)                 6.71008               ($14,762)

Salvage Value             10         $7,245                  0.46319                $3,356

Present Value of A                                                                              ($80,406)

Machine B            Period    Amount     Present Value Factor   Present Value

Purchase Cost            0         ($57,500)                  1                        ($57,500)

Maintenance Cost

Year 3                          3         ($8,800)               0.79383                ($6,986)

Year 6                          6         ($11,000)              0.63017                 ($6.932)

Year 8                          8         ($13,200)             0.54027                 ($7,132)

Present Value of B                                                                            ($78,550)

Note the Following:

The Net Present Value of B is lower than the Value of Machine A. So, Machine B should be opted.For the Present Value Factor of Machine A's Maintenance Cost, the 10 year annuity value of 8% was calculated.Machine B has no salvage value after the 10th year period.

Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question. 1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank 3. Issue $80,000 in stock 4. Buy $16,000 worth of manufacturing supplies on credit 5. Pay $7,000 owed to a supplier What is the final amount in Total Equity?

Answers

Answer:

Stock Issue $80,000

Less : Purchase of equipment $50,000

Add: Borrowing from bank $67,000

Less: Manufacturing Supplies $16,000

Less: Payment to Supplier $7,000

Ending Balance $83,000

Explanation:

Total equity is the part of a business which is the main financing source. Liabilities are deducted from assets to derive equity of a business. Equity is the main source of financing for any business. Equity can be raised from various means, borrowing, stock issues, cash investments and other similar transactions.

The Occupational Safety and Health Administration (OSHA) has determined that the probability of a worker dying from exposure to a hazardous chemical used in the production of fertilizer is 0.008. The cost of imposing a regulation that would ban the chemical is $31 million. If the value of a human life is equal to $8 million, how many people must the policy affect in order for the benefits to exceed the costs

Answers

Answer: More than 484 person

Explanation:

The expected benefit for one person will be:

= probability of death × value of life

= 0.008 × 8 million = 0.064 million

The number of people that the policy must the affect in order for the benefits to exceed the costs will be:

= 31 million / 0.064 million

= 484.755

Therefore, the people should be more than 484 persons to exceed costs

Assume the following: The standard labor rate per hour is $17.00. The standard labor-hours allowed per unit of finished goods is 3 hours. The actual quantity of labor hours worked during the period was 44,000 hours. The total actual direct labor cost for the period was $726,000. The company produced 15,000 units of finished goods during the period. What is the labor efficiency variance

Answers

Answer: $17,000

Explanation:

Labour efficiency variance = Standard rate * (Standard hours - Actual hours )

Standard hours:

= Standard labor-hours allowed per unit * Number of units produced in period

= 3 * 15,000

= 45,000 hours

Labor efficiency variance = 17 * (45,000 - 44,000)

= $17,000 Favorable

Favorable because the standard amount is higher than the actual amount.

Keith Inc. has 4 product lines: sour cream, ice cream, yogurt, and butter. Demand of individual products is not affected by changes in other product lines. 30% of the fixed costs are direct, and the other 70% are allocated. Results of June follow:

Sour Cream Ice Cream Yogurt Butter Total
Units sold 2,000 500 499 200 3,100
Revenue 10,000 20,000 10,000 20,000 60,000
Variable departmental costs 6,000 13,000 4,200 4,800 28,000
Fixed costs 7,000 2,000 3,000 7,000 19,000
Net income (loss) (3,000) 5,000 2,800 8,200 13,000
Required:
Prepare an incremental analysis of the effect of dropping the sour cream product line.

Answers

Answer:

Dropping Sour would lead to a net loss of $(1,900)

Explanation:

To determine whether or not it will be profitable to drop a loss making product, we compare the savings in fixed cost to the lost contribution from dropping it.

It is noteworthy that only the fixed cost attributed to the product would be saved should it be discontinued.

The incremental analysis is done as follows:

Direct fixed cost of Sour = 30%× 7,000 = 2,100

Lost contribution = sales value - variable cost = 10,000-6,000= 4,000

                                                                 $

Lost contribution                                      (4,000)

Savings in fixed cost                               2,100

Net loss in contribution                           (1,900)

Dropping Sour would lead to a net loss of $(1,900)

Assign each of the following to the correct category: A full-time college studentmultiple choice 1 Employed Unemployed Not in the labor force An accountant working full timemultiple choice 2 Employed Unemployed Not in the labor force A web developer working 20 hours/weekmultiple choice 3 Employed Unemployed Not in the labor force A recently laid-off factory worker looking for a jobmultiple choice 4 Employed Unemployed Not in the labor force A stay-at-home parentmultiple choice 5 Employed Unemployed Not in the labor force A recent college graduate looking for a jobmultiple choice 6 Employed Unemployed Not in the labor force

Answers

Answer:

Assignment to the correct category:

1. A full-time college student  Not in the labor force

2. An accountant working full time  Employed

3. A web developer working 20 hours/week   Employed

4. A recently laid-off factory worker looking for a job  Unemployed

5. A stay-at-home parent  Not in the labor force

6. A recent college graduate looking for a job  Unemployed

Explanation:

An employed person is one who is actively engaged in a paid job.  Some unemployed persons are those who are actively seeking for jobs.  This implies that a person, who is not actively engaged in a paid job or actively seeking for a job, is not in the labor force.

Langley Clinics, Inc., buys $400,000 in medical supplies each year (at gross prices) from its major supplier, Consolidated Supplies, which offers Langley terms of 2.5/10, net 45. Currently, Langley is paying the supplier the full amount due on day 45, but it is considering taking the discount, paying on day 10, and replacing the costly trade credit with a bank loan that has a 10 percent annual cost.

Required:
a. What is the amount of free trade credit that langley obtains from Consolidated Services?(assume 360 days per year throughout this problem)
b. What is the amount of costly trade credit?
c. What is the approximate annual cost of the costly trade credit?
d. Should Langley replace its trade credit with the bank loan? explain your answer.
e. If the bank loan is used, how much of the trade credit should be replaced?

Answers

Answer:

Explanation:

a. What is the amount of free trade credit that langley obtains from Consolidated Services?

Since there's a 2.5% discount, amount paid will be:

= $400000 - (2.5% × $400000)

= $400000 - $10000

= $390000

The amount of free trade credit that langley obtains from Consolidated Services since payment was made within 10 days will be:

= ($390000/360) × 10

= $1083 × 10

= $10833

b. What is the amount of costly trade credit?

Assuming Langley pays by day 45, the increase in its accounts payable will be:

= 45 x $1,083

= $48,735

Therefore, the amount of costly trade credit will be:

= Total trade credit – Free trade credit = $48,735 – $10,833

= $37,902

c. What is the approximate annual cost of the costly trade credit?

The percentage cost will be:

= 10000 / 37902

= 26.38%

d. Should Langley replace its trade credit with the bank loan?

Langley should replace the trade credit with a bank loan if it can get a bank loan that's can less than 26.38%, then the trade credit of $37902 should be replaced.

e. If the bank loan is used, how much of the trade credit should be replaced?

Only the trade credit of $37902 should be replaced.

Identify the term being described for each of the following: A - sequence of activities in a project. B - The longest time sequence of activities in a project C - Used when two activities have the same starting and finishing points. D - The difference in time length of any path and the critical path. E - The statistical distribution used to describe variability of an activity time. F - The statistical distribution used to describe path variability an activity by allocating additional resources.

Answers

Answer: See explanation

Explanation:

A - sequence of activities in a project. = A path

B - The longest time sequence of activities in a project = Critical path

C - Used when two activities have the same starting and finishing points. = Critical activity

D - The difference in time length of any path and the critical path. = The path slack

E - The statistical distribution used to describe variability of an activity time. = Beta distribution.

F - The statistical distribution used to describe path variability an activity by allocating additional resources. = Normal distribution

1. Imagine yourself as a manager of a struggling local suburban regional shopping mall. What do you think the mall should do to improve its performance

Answers

Explanation:

There are several possibilities that can help a local suburban shopping mall in difficulty to improve its performance. Some options could be the hiring of surveys with the local community to identify consumption trends and preferences, as well as the search for the implementation of more anchor stores that are consistent with the financial situation and preferences of the target audience.

A shopping center also needs to have a lure for the public, something that differentiates it from competing stores, so another option for attracting customers would be to attract unique stores in the region to the mall, which are directly aligned with the values ​​and preferences of the community. An interesting option is also to hold regional fairs, small artist shows, thematic space for children, etc.

People most commonly buy the services of a tattoo artist on the weekends. To encourage people to use their services on weekdays, many tattoo artists adjust prices to influence demand. In other words, they use differing prices to lessen the problems related to the _____ of services.

Answers

Answer:

C) perishability

Explanation:

THESE ARE THE OPTIONS FOR THE QUESTION BELOW

A) intangibility

B) inseparability

C) perishability

D) variability

E) responsiveness

From the question we are informed about some People who most commonly buy the services of a tattoo artist on the weekends. To encourage people to use their services on weekdays, many tattoo artists adjust prices to influence demand. In this case, they use differing prices to lessen the problems related to the perishability of services. Perishability of service can be regarded as marketing terms that give description about service that is not capable of been saved, resold or even returned immediately it has been uaed,. Whenever the service is been rendered to a particular customer , it cannot be delivered again to another customer.

A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 8,000 hours in year 2, and 6,000 hours in year 3.

Answers

Answer:

The depreciation expense for year 1 is $54,000, for year 2 is $144,000, and for year 3 is $108,000.

Explanation:

To calculate the depreciation expense using the units-of-production method, we need to determine the depreciation rate per machine hour.

Step 1: Calculate the depreciable cost.

Depreciable cost = Cost of the machine - Residual value

Depreciable cost = $400,000 - $40,000

Depreciable cost = $360,000

Step 2: Calculate the depreciation rate per machine hour.

Depreciation rate per machine hour = Depreciable cost / Estimated machine hours of useful life

Depreciation rate per machine hour = $360,000 / 20,000 machine hours

Depreciation rate per machine hour = $18

Step 3: Calculate the depreciation expense for each year.

Year 1: 3,000 machine hours

Depreciation expense = Depreciation rate per machine hour * Hours in year 1

Depreciation expense = $18 * 3,000

Depreciation expense = $54,000

Year 2: 8,000 machine hours

Depreciation expense = Depreciation rate per machine hour * Hours in year 2

Depreciation expense = $18 * 8,000

Depreciation expense = $144,000

Year 3: 6,000 machine hours

Depreciation expense = Depreciation rate per machine hour * Hours in year 3

Depreciation expense = $18 * 6,000

Depreciation expense = $108,000

Therefore, the depreciation expense for year 1 is $54,000, for year 2 is $144,000, and for year 3 is $108,000.

Hope this helps!

Given the information below, answer the following two questions. Firm A Firm B Q 1000 1000 P 1 1 V 0.7 0.2 FC 200 700 A given change in Q will result in a larger change in EBIT for Firm ___ A. A B. B C. More information is needed to answer this question

Answers

Answer:

Firm A and Firm B

C. More information is needed to answer this question

Explanation:

a) Data and Calculations:

          Firm A      Firm B

Q           1000        1000

P               1              1

V             0.7           0.2

Contr      0.3           0.8

FC         200         700

EBIT       100          100

b) More information is certainly required to answer this question.  Specifically, the direction of the given change in Q is not indicated.  The answer will become clearer with this information.  The question to ask is this: is the given change in Q an increase or a decrease?

Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) check all that apply Ownership rights cannot be easily transferred. Owners have unlimited liability for corporate debts. Capital is more easily accumulated than with most other forms of organization. Corporate income that is distributed to shareholders is usually taxed twice. It is a separate legal entity. It has a limited life. Owners are not agents of the corporation.

Answers

Answer:

Following are the responses to the given question:

Explanation:

In point a, it is false because the ownership of a stock owned by shareholders is directly adaptable by sale.In point b, it is false because the corporate bosses have no responsibility. A corporate company is an organizationIn point c, it is true because This company is going on a broad-based business. Its necessary capital is enormous but is obtained from three sources.In point d, it is true because the company money is calculated twice in normal conditions, except for where tax-deductible is declared for both the dividends in shareholders' hands.In point e, it is true because Its company's legality is distinct from those of its owners. That both companies, as well as the owner, are separate legal entities. Firms have a common seal as well as their titles.In point f, it is false because UNLIMITED was its life of corporates and the foundation of the 'Moving Concern' idea.In point g, it is true because the actual owner isn't a business agent. They're only the owner that gives money.

Thermopolis, Inc. reported retained earnings of $490,953 on December 31, 2017. During the year, Thermopolis recorded net income of $135,075 and paid dividends of $57,762. The company had no other transactions that affected retained earnings. What must retained earnings have been on December 31, 2016

Answers

Answer:

the Opening retained earning balance is $413,640

Explanation:

The computation of the retained earnings have been on December 31, 2016 is shown below:

As we know that

Ending retained earning balance = Opening retained earning balance + net income - dividend paid

$490,953 = Opening retained earning balance + $135,075 - $57,762

$490,953 = Opening retained earning balance + $77,313

So, the Opening retained earning balance is $413,640

Which of the following is/are true about kanban? A. The purpose of the kanban system is to ensure that parts are produced JIT to support subsequent processes. B. Some companies control the movement of the containers by using two types of kanban cards, production cards and withdrawal cards. C. Kanban cards take the place of shop paperwork used in traditional repetitive mass production. D. a and b are true

Answers

Answer:

c

Explanation:

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Last year Rennie Industries had sales of $270,000, assets of $175,000 (which equals total invested capital), a profit margin of 5.3%, and an equity multiplier of 1.2. The CFO believes that the company could reduce its assets by $51,000 without affecting either sales or costs. The firm finances using only debt and common equity. Had it reduced its assets by this amount, and had the debt/total invested capital ratio, sales, and costs remained constant, how much would the ROE have changed? Do not round your intermediate calculations. a. 3.03% b. 3.07% c. 4.04% d. 4.52% e. 4.08%

Answers

Answer:

c. 4.04%

Explanation:

Calculation to determine how much would the ROE have changed

First step is to Calculate last year Last year profit

Last year profit = $270,000 × 5.3%

Last year profit = $14,310.00

Second step is to calculate Last year equity

$175,000/Last year equity = 1.2

Last year equity = $175,000/1.2

Last year equity= $145,833.33

Third step is to calculate Last year ROE

Last year ROE = $14,310.00/$145,833.33

Last year ROE= 0.0981*100

Last year ROE= 9.81%

Fourth step is to Calculate New asset value

New asset value = $175,000 - $51,000

New asset value = $124,000

Fifth step is to calculate Equity after asset reduction

Equity after asset reduction = $124,000/1.2

Equity after asset reduction = $103,333.33

Sixth step is to calculate ROE after asset reduction

ROE after asset reduction = $14,310.00/$103,333.33

ROE after asset reduction =0.1385*100

ROE after asset reduction =13.85%

Now let calculate amount of change in ROE

Using this formula

Change in ROE = ROE after asset reduction - Last year ROE

Let plug in the formula

Change in ROE = 13.85% - 9.81%

Change in ROE = 4.04%

Therefore how much would the ROE have changed is 4.04%

Can you Help me with this question.

Answers

Why is it not loading?

Dellarocco Incorporated makes a single product--a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted fixed manufacturing overhead $ 355,740 Budgeted hours 49,000 labor-hours Actual fixed manufacturing overhead $ 372,740 Actual hours 45,600 labor-hours The fixed overhead budget variance is:

Answers

Answer:

the fixed overhead budget variance is $17,000 unfavorable

Explanation:

The computation of the fixed overhead budgeted variance is shown below:

= Budgeted overhead - actual overhead

= $355,740 - $372,740

= $17,000 unfavorable

Since the budgeted overhead is less than the actual overhead so it is an unfavorable variance

Hence, the fixed overhead budget variance is $17,000 unfavorable

Ray's Pizzeria is considering the addition of a 5th worker if this increases profit. Pizza sales increased from 300 per day to 360 per day when the 4th worker was added, indicating that the marginal product of the 4th worker was equal to blank1 - Numeric Answer Type your answer here Please type your answer to submit pizzas. If adding a 5th worker increases sales from 360 to 400, the marginal product of the fifth worker is blank2 - Numeric Answer Type your answer here pizzas.

Answers

Answer:

60 pizzas

40 pizzas

Explanation:

Marginal product measures the change in output as a result of a change in input by one unit

Marginal product = change in output / change in input

Marginal product for the 4th worker

Change in output = 360 - 300 = 60 pizzas

Change in input = 4 - 3 = 1 worker

Marginal product = 60 / 1 = 60

Marginal product for the 5th worker

Change in output = 400 - 360 = 40 pizzas

Change in input = 5 - 4 = 1

Marginal product = 40 / 1 = 40

It can be seen that marginal product decreased from 60 to 40 when the 5th worker was added. This illustrates diminishing marginal returns.

The law of diminishing returns says as more units of a variable input is added to a fixed income of production, output might increase at a point but after some time total output would increase at a decreasing rate and marginal product would be decreasing.

Motorcycle Manufacturers, Inc. projected sales of 51,100 machines for the year. The estimated January 1 inventory is 6,460 units, and the desired December 31 inventory is 7,130 units. What is the budgeted production (in units) for the year

Answers

Answer:

51,770 units

Explanation:

With regards to the above, the budgeted production (in unit) for the year is computed as;

= Sales - Beginning inventory + Ending inventory

Given that ;

Sales = 51,100

Beginning inventory = 6,460

Ending inventory = 7,130

Budgeted production in units for the year = 51,100 - 6,460 + 7,130 = 51,770 units

you have just purchased a new car! you made a down payment of $5,000 and financed the balance. According to the purchasing agreement, you must pay $600/month for four years, beginning one month from today. the credit agreement is based on an annual interest rate of 12%. what was the cost of the car

Answers

Answer:

Cost of car=$27,784

Explanation:

Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.  

The monthly equal installment is calculated as follows:  

Monthly equal installment= Loan amount/Monthly annuity factor  

Loan amount =Balance payment= ?

Monthly annuity factor =  

=( 1-(1+r)^(-n))/r  

r- Monthly interest rate (r)  

= 12/12= 1%  

n- Number of months ( n) = 12× 4 = 48  

Annuity factor  

= ( 1- (1.01)^(-48)/0.01= 37.97

Total payments= 600 × 37.973

= $22,784.37

Cost of car = Down payment and the present value of balance

= 5,000+ 22,784.3=$27,784

An essay about umntu ngumntu ngabantu​

Answers

Give a little more context please

Rankine Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various age groups of the accounts. Rankine calculated a total of $9,600 in possible credit losses as of December 31. Accounts Receivable has a balance of $307,200, and the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31

Required:
What is the net amount of accounts receivable that should be included in current assets?

Answers

Answer:

Date  Account titles and Explanation    Debit      Credit

         Bad Debt Expense                         $8,400

                  Allowance for doubtful account            $8,400

                  ($9,600 credit required - $1,200 already existing)

         (To record bad debt expenses)

Particulars                                               Amount

Account receivables                               $307,200

Less: Allowance for doubtful account   $9,600

Net amount of accounts receivable     $297,600

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