Answer:
The answer is "$228,000"
Explanation:
Formula:
[tex]\text{Total Assets = Current Assets + Fixed Assets}[/tex]
[tex]= [\$ 13,000 + \$ 2,000 + \$ 4,000 + \$ 95,000] + [\$ 34,000 + \$ 80,000]\\\\= [\$ 114,000] + [\$ 114,000]\\\\= \$ 228,000[/tex]
Andriana Rodriguez is applying for a loan. As she is filling out the paperwork, she comes across a question about her age, which Andriana does not fill in.
Which consumer protection law best supports Andriana's decision to leave this field blank?
- the Equal Credit Opportunity Act (ECOA)
- the Home Mortgage Disclosure Act (HMDA)
- the Truth in Lending Act (TILA)
- the Truth in Savings Act (TISA)
Answer:
ECOA
Explanation:
ECOA Prohibits discrimination based on age (provided they have the capacity to contract)
On January 1, 2020, Sheffield Company makes the two following acquisitions. 1. Purchases land having a fair value of $220,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $346,174. 2. Purchases equipment by issuing a 6%, 8-year promissory note having a maturity value of $410,000 (interest payable annually). The company has to pay 12% interest for funds from its bank. (a) Record the two journal entries that should be recorded by Sheffield Company for the two purchases on January 1, 2020. (b) Record the interest at the end of the first year on both notes using the effective-interest method.
Answer:
A. Dr Land $220,000.00
Dr Discount on Notes Payable $126,174.00
Cr Notes Payable $346,174.00
Dr Cash $287,796.06
Dr Discount on Note Payable $122,203.94
Cr Note Payable $410,000
B. December 31, 2017
Dr Interest expense $26,400
Cr Discount on Notes Payable $26,400
December 31, 2017
Dr Interest expense $34,535.5
Cr Cash $24,600
Cr Discount on Notes Payable $9,935.5
Explanation:
(a) Preparation to Record the two journal entries that should be recorded by Sheffield Company for the two purchases on January 1, 2020.
Dr Land $220,000.00
Dr Discount on Notes Payable $126,174.00
($346,174.00-$220,000.00)
Cr Notes Payable $346,174.00
Dr Cash $287,796.06
Dr Discount on Note Payable $122,203.94
Cr Note Payable $410,000
Calculation for the PV of note using Financial calculator
N=8
I/Y% = 12%
Interest payment – $410,000 x .06 = $24,600
FV = $410,000
PV of note = $287,796.06
Calculation for Discount on note
Discount on note = $410,000 –$287,796.06
Discount on note= $122,203.94
(b) Preparation of the journal entry to Record the interest at the end of the first year on both notes using the effective-interest method.
December 31, 2017
Dr Interest expense $26,400
($220,000 x .12)
Cr Discount on Notes Payable $26,400
December 31, 2017
Dr Interest expense $34,535.5
($287,796.06*.12)
Cr Cash $24,600
($410,000 x .06)
Cr Discount on Notes Payable $9,935.5
($34,535.5-$24,600)
MECCS Inc. has net income of $3,492, interest expense of $172, sales of $7,290, addition to retained earnings of $1,596, selling and general expenses of $1,820, and depreciation of $990. What is the amount of dividends paid if the tax rate is 21 percent
Answer: $1,896
Explanation:
The amount of net income that is retained is determined by the amount of dividends paid in the formula:
= Net income - Retained earnings
= 3,492 - 1,596
= $1,896
Taxes and expenses would have already been catered for in the Net income.
Which activity is an example of differentiated marketing? A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic. B. A retailer promotes commodities such as coffee, sugar, and bread to everyone who shops at the store. C. A local business distributes promotional cards to the community. D. A travel business sends advertisements to its current and past customers. E. An insurance company offers its products to everyone in Kansas.
Answer: A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic.
Explanation:
Differentiated marketing is a form of marketing that occurs when the advertisement that is done by a particular company appeals to some particular target audiences or segments. Thus is usually done by the company to get ire customers and also enhance the brand awareness.
In this case, the activity that is an example of differentiated marketing will be option A. "An automobile company promotes small family cars and sports utility vehicles to a specific demographic".
The Great Railway Strike of 1877 __________. Group of answer choices represented a weakness in the system that allowed railroads to shut down, thus shutting down commerce occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers was calmed when the railroad gave in to demands of the workers resulted in significant legislation to prevent railroad strikes from ever happening again
Answer:
occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers.
Explanation:
The Great Railway Strike of 1877 occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers.
Which qualification is necessary for a Mental Health Counselor?
A.) Knowledge of psychology and related books and resources
B.) Understanding of a psychology and religious tradition
C.) Understanding of psychology, and mathematics
D.) Knowledge of psychology and history of psychology
Answer:
i think its C. Understanding of Psychology, and Mathematics. Sorry if im wrong
Explanation:
Understanding psychology and mathematics qualification are necessary for a Mental Health Counselor. The correct option is C.
What is the connection between psychology and mathematics?
The area of psychology known as mathematical psychology is concerned with using mathematical and computational models to analyze and forecast human behavior. Memory, attention, problem-solving, perception, decision-making, and motor control are typical areas of interest.
Psychologists can interpret data and gain a better understanding of the brain with math. Therefore, having these skills is essential if you want to be as productive as possible at work. Though they usually focus on a person's behavior and thought processes, therapists can benefit from having a basic understanding of math. Students who understand math will do better in their science classes because math is closely related to the subjects they study.
Thus, the ideal selection is option C.
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The following costs result from the production and sale of 4,450 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $295 each. The company has a 30% income tax rate. Variable production costs Plastic for casing $ 115,700 Wages of assembly workers 404,950 Drum stands 155,750 Variable selling costs Sales commissions 106,800 Fixed manufacturing costs Taxes on factory 14,500 Factory maintenance 29,000 Factory machinery depreciation 89,000 Fixed selling and administrative costs Lease of equipment for sales staff 29,000 Accounting staff salaries 79,000 Administrative management salaries 159,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio.
Answer:
See below
Explanation:
1. Contribution margin income statement
Sales (4,450 × $295)
$1,312,750
Less: Variable costs
Plastic for casting
$115,700
Wages
$404,950
Drum stand
$155,750
Variable selling
$106,800
Contribution
$529,550
Less : Fixed costs
Taxes on factory
$14,500
Factory Maintenance
$29,000
Depreciation
$89,000
Lease of equipment
$29,000
Accounting staff salaries
$79,000
Admin management salaries
$159,000
Profit before tax
$130,050
Less :
Tax at 30%
$39,015
Profit after tax
$91,035
2. Contribution margin per unit
Contribution margin per unit = Total contribution / Number of units
Contribution margin per unit = $529,550 / 4,450
Contribution margin per unit = $119 per unit
•Contribution margin ratio
= Contribution margin per unit / Unit cost of drum
= $119 / $295
Contribution margin ratio = 40.34%
which of the following is an example of business related financial information:
pay stub
school-loan document
accounts recievable record
sales reciept from purchasing a new mattress
Answer:
accounts recievable record
Explanation:
Accounts receivable record shows the amount of money customers owe a business. It arises when a company sells goods or services to customers on credit. Accounts receivable is a financial record, as it records commercial transactions between a firm and its customers.
Accounts receivables are treated as assets in the financial records of a business.
John, who has just completed his first finance course, is unsure whether he should take a course in business analysis and valuation using financial statements, since he believes that financial analysis adds little value, given the efficiency of capital markets. Explain to John when financial analysis can add value, even if capital markets are efficient.
Answer:
Following are the solution to the given question:
Explanation:
The financial analysis allows you to understand the strong a corporation's finances throughout the study of capital markets, which's very helpful. Mercedes typically produce short-term misprice for resources as well as the returns are created by an investor/fund manager. These gains also are called Alpha. Economic analysis shows whether an organization handles its money. Economic reporting in project management is useful to recognize its competitive edge of a capital market business and, ultimately, that company(asset) sells efficiently over a lengthy sector.
One problem with using market values to measure GDP is that A. some useful goods and services are not sold in markets. B. you cannot compare completely heterogeneous goods by using their dollar values. C. prices for some goods change every year. D. market values of exported goods are usually priced in foreign currencies.
Answer:
C. prices for some goods change every year.
Explanation:
The reason why the real GDP (GDP adjusted to inflation) is a much better economic index than nominal GDP is that prices change over time, even if the quantities produced do not. It is actually possible for nominal GDP to increase even if total production output decreases due solely to high inflation rates.
Two manufacturing firms, located in cities 90 miles apart, both send their trucks four times a week to the other city full of cargo and return empty. Each driver costs $275 per day with benefits (the round trip takes all day) and each firm has truck operating costs of $1.30 a mile. How much could each firm save weekly if each sent its truck twice a week and hauled the other firm's cargo on the return trip
Answer: $1,018
Explanation:
Cities are 90 miles apart so a roundtrip is 180 miles which means that the operating cost per trip is:
= 1.30 * 180
= $234
Total cost per trip = Divers cost + operating cost
= 275 + 234
= $509
Four trips are made per week so total cost is:
= 509 * 4
= $2,036
If each sent its truck twice a week and hauled the other firm's cargo on the return trip then savings would be:
= Cost of 4 trips - cost of 2 trips
= 2,036 - (509 * 2)
= $1,018
g Tirri Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 7.30 Direct labor $ 3.45 Variable manufacturing overhead $ 1.35 Fixed manufacturing overhead $ 24,000 Sales commissions $ 1.10 Variable administrative expense $ 0.65 Fixed selling and administrative expense $ 8,400 If the selling price is $27.70 per unit, the contribution margin per unit sold is closest to: Multiple Choice $13.85 $16.95 $10.40 $6.55
Answer:
$13.85
Explanation:
Calculation for what the contribution margin per unit sold is closest to:
Selling price $27.70 per unit,
Less Direct materials ($ 7.30)
Less Direct labor ($ 3.45)
Less Variable manufacturing overhead ($ 1.35 )
Less Sales commissions ($ 1.10)
Less Variable administrative expense ($ 0.65)
Contribution margin per unit sold $13.85
Therefore the contribution margin per unit sold is closest to: $13.85
As an investor, what is the risk involved when investing in companies on the stock
exchange?
a. Investors can lose their existing shares if the value of the stock does not
increase within 90 days of purchase
b. Once they purchase a share, investors cannot sell them at a higher price
The price of stocks can decrease; for example, when the company
receives bad press
d. Investors are only at risk if the purchase a share when the stock price has
fallen
C.
Answer:d
Explanation:
The investor are only at risk if the purchase of a share when the stoc price has fallen
During the current year, the Town of Salo Alto recorded the following transactions related to its property taxes: Levied property taxes of $3,300,000, of which 2 percent is estimated to be uncollectible. Collected current property taxes amounting to $2,987,500. Collected $26,500 in delinquent taxes and $2,400 in interest and penalties on the delinquent taxes. These amounts had been recorded as Deferred Inflows of Resources in the prior year. Imposed penalties and interest in the amount of $3,750 but only expects to collect $3,100 of that amount. None is expected to be collected this year or within 30 days of year-end. Reclassified uncollected taxes as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year.
Question Completion:
Prepare the journal entries.
Answer:
Town of Salo Alto
Journal Entries:
Debit Property Taxes Receivable $3,300,000
Credit Unearned Property Taxes $3,300,000
To record the levying of property taxes.
Debit Uncollectible Expense $66,000
Credit Allowance for Uncollectible Property Taxes $66,000
To record the 2% allowance for uncollectible taxes.
Debit Cash $2,987,500
Credit Property Taxes Receivable $2,987,500
To record the collection of current property taxes.
Debit Cash $28,900
Credit Deferred Inflows of Resources $26,500
Credit Interest and Penalties $2,400
To record the collection of delinquent taxes with interest and penalties.
Debit Penalties and Interest Receivable $3,750
Credit Interest and Penalties $3,100
Credit Allowance for uncollectible $650
To record penalties and interest imposed.
Debit Deferred Inflows of Resources $312,500
Credit Property Taxes Receivable $312,500
To re-classify uncollected taxes as delinquent.
Explanation:
The ASC 606, as applicable to GASB, specifies when property tax revenues should be recognized in government-wide financial statements. Governmental revenue, e.g. property tax revenue, should be considered as revenue in the current period if it can be collected within that period or sixty days after the current period. If it cannot be so collected, it needs to be re-classified as delinquent.
If XYZ invested $5,800 today in an account that is expected to earn 3.2 percent per year, and she expects to make another investment in the same account in 3 years from today, then how much money does XYZ expect to invest in 3 years if she expects to have $15,000 in her account in 4 years from today
Answer:
The answer is "$8,160.08".
Explanation:
[tex]A= \text{future value} = \$ 15,000 \\\\P= \text{present value}= \$ 5,800 \\\\r=\tex{rate} =3.2 \%\\\\n= \text{time in years} = 4[/tex]
Using formula:
[tex]A=P(1+ \frac{r}{100})^n + \text{Investment in 3 years} \times (1.032)\\\\15,000=5,800 (1+ \frac{3.2}{100})^4 + \text{Investment in 3 years} \times (1.032)\\\\15,000=5,800 (1+ 0.032)^4 + \text{Investment in 3 years} \times (1.032)\\\\15,000=5,800 (1.032)^4 + \text{Investment in 3 years} \times (1.032)\\\\[/tex]
[tex]15,000 = 5,800 \times 1.13427612 +\text{Investment in 3 years} \times (1.032)\\\\15,000=6,578.8015 + \text{Investment in 3 years} \times (1.032)\\\\\text{Investment in 3 years} = \frac{(15000-6578.8015)}{1.032}\\\\\text{Investment in 3 years} = \frac{8,421.1985}{1.032}\\\\\text{Investment in 3 years} = 8,160.07607\\\\ \text{Investment in 3 years} = 8,160. 08[/tex]
You would like to purchase a home and are interested to find out how much you can borrow. When your lender calculates your debt to income ratio, he determines that your maximum monthly payment can be no more than $3,200. You would like to have a 30 year fully- amortizing loan and the interest rate offered on such a loan is currently 5%. Given these constraints, what is the largest loan you can obtain?
Answer:
When Your Lender Calculates Your Debt To Income Ratio, He Determines That Your Maximum Monthly Payment Can Be No More Than $3,200.
Please answer !!! For a lot of points
Answer:
thanks for points
Explanation:
The ACE Equity Fund has an expected return E[r] of 11.830% and the ZQR Bond Fund has an expected return E[r] of 6.690%. A portfolio comprised of 3% ACE and 97% ZQR would have an expected return of __________%. (percent, rounded three places after decimal)
Answer:
The answer is "6.8442%".
Explanation:
The expected portfolio return is the total average portfolio return for all stocks
ACE fund weight (wA) =3%
ACE fund (ErA) expected return= 11.830%
Bond fund ZQR weight (wB) = 97%.
The ACE fund (ErB) expected return = 6.690%
Expected portfolio return = [tex](wA \times ErA)+(wB \times ErB)[/tex]
[tex]=(3\% \times 11.830 \% )+(97 \% \times 6.690\%)\\\\= 0.03 \times 0.1183 +0.97 \times 0.0669 \\\\=0.003549+ 0.064893\\\\=0.068442\\\\=6.8442 \%[/tex]
To be considered part of a market, an individual must
Answer:
Have both willingness to buy and the financial resources needed to buy.
What would you do if you got conflicting answers for the same procedure from two different people you interviewed? What would you do if one was a clerical person and the other was the department manager?
Answer:
The best solution will be to get the two individuals together to try and get a solution that is agreeable between two of them.
Explanation:
The role of a system analyst is not to make a decision about the best procedure to use, rather it is the responsibility of the users to do so.
The analyst is to facilitate a common ground that takes into consideration all views.
In the given scenario the department manager may be privy to information that the clerical person does not have. This will give a better view of processes that will be in line with business goals and objectives.
However the clerical staff pays more attention to details of business procedures. He is most likely more updated on business procedure that the department head.
The best way forward is the get the two of them together to trash out the differences of their procedures and come up with one that takes the managerial view of the department head and the detail oriented view of the clerical staff into consideration
The role of the system analyst is not to decide on the best method to use, rather it is the responsibility to come up with a common viewpoint where both their opinions can be considered.
What are the responsibilities of a System Analyst?A systems analyst is a person who uses analytical and design techniques to solve business problems using information technology.
System analysts can act as agents of change who identify organizational improvements needed, design systems to implement those changes, and train and motivate others to use the systems.
The analyst is to facilitate a consensus that takes into account all the ideas.
In this case, the department head may be aware of information that the pastor does not have. This will give you a better idea of the processes that will align with the goals and objectives of the business.
However, clerical staff pays close attention to details of business processes. The clerk may know more about the business processes head of a department.
The best way forward is to bring the two together to eliminate the differences in their procedures, it is the system analyst's responsibility to come up with a common viewpoint where both their opinions can be considered.
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Consider two neighboring island countries called Arcadia and Felicidad. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.
Jeans Corn
Country (Pairs per hour of labor) (Bushels per hour of labor)
Arcadia 8 16
Felicidad 5 20
Initially, suppose Arcadia uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Felicidad uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Arcadia produces 8 million pairs of jeans and 48 million bushels of corn, and Felicidad produces 15 million pairs of jeans and 20 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.
Arcadia's opportunity cost of producing 1 pair of jeans is____of corn, and Felicidad's opportunity cost of producing 1 pair of jeans is____of corn. Therefore,____has a comparative advantage in the production of jeans, and____has a comparative advantage in the production of corn.
Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce ___ million pairs per week, and the country that produces corn will produce ____ million bushels per week.
When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased by____million pairs per week, and the total production of corn has increased by____million bushels per week.
Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.
Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked “Increase in Consumption”).
Arcadia Felicidad
Jeans Corn Jeans Corn
(millions of pairs) (millions of bushels) (millions of pairs) (millions of bushels)
Without Trade
Production 8 48 15 20
Consumption 8 48 15 20
With Trade
Production
Trade action
Consumption
Gains from trade
Increase in consumption
Answer:
Arcadia's opportunity cost of producing 1 pair of jeans is 2 bushels of corn, and Felicidad's opportunity cost of producing 1 pair of jeans is 4 bushels of corn. Therefore, Arcadia has a comparative advantage in the production of jeans, and Felicidad has a comparative advantage in the production of corn.
Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce 32 million pairs per week, and the country that produces corn will produce 80 million bushels per week.
When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased by 9 million pairs per week, and the total production of corn has increased by 12 million bushels per week.
Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.
Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked “Increase in Consumption”).
Arcadia Felicidad
Jeans Corn Jeans Corn
Without Trade
Production 8 48 15 20
Consumption 8 48 15 20
With Trade
Production 32 0 0 80
Trade action 15 48 15 48
Consumption 17 48 15 32
Gains from trade
Increase in 9 12
consumption
Lanson Corporation Co.'s trial balance included the following account balances at December 31, 2021: Accounts payable $ 25,000 Bonds payable, due 2030 22,000 Salaries payable 16,000 Notes payable, due 2022 20,000 Notes payable, due 2026 40,000 What amount should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet?
Answer:
$61,000
Explanation:
Calculation for What amount should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet
Accounts payable $ 25,000
Add Salaries payable $16,000
Add Notes payable, due 2022 $20,000
December 31, 2021 Current liabilities section $61,000
($25,000+$16,000+$20,000)
Therefore the amount that should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet will be $61,000
The NPV and IRR method occasionally do not agree on accept/reject decisions when evaluating an investment proposal.
True or False?
The NPV and IRR method occasionally do not agree on accept/reject decisions when evaluating an investment proposal. The given statement is False.
Why positive NPV should be accepted?A project or venture has a positive NPV if the estimated earnings, discounted for their present value, are more than the anticipated costs, also expressed in today's currency. A positive NPV indicates an investment that is likely to be successful. Net loss will arise from an investment with a negative NPV.
The total of the investment's anticipated cash inflows and outflows, discounted back to their present value at a risk-adjusted rate, is known as the net present value. Project acceptance is granted if the NPV exceeds $0. The project is turned down in any other case.
Thus, the given statement is False.
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MacKenzie Company sold $420 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice
Answer:
See below
Explanation:
Credit card expense = 5% of sales value $420 = $21
A company that manufactures air-operated drain valve assemblies currently has $100,000 available to pay for plastic components over a 5-year period. If the company spent only $52,000 in year 1, what uniform annual amount can the company spend in each of the next 4 years to deplete the entire budget
Answer:
$18,297.31
Explanation:
The computation of the uniform amount that could be spend is shown below"
Here we determine the PMT
Given that
We assume the RATE = 10%
NPER = 5 - 1 = 4
PV = $100,000 × 1.1 - $52,000
= $110,000 - $52,000
= $58,000
FV = $0
The formula is given below:
= PMT(RATE,NPER,PV,FV,0)
The present value comes in negative
After applying the above formula, the uniform annual amount is $18,297.31
A project has been assigned a discount rate of 12 percent. If the project starts immediately, it will have an initial cost of $480 and cash inflows of $350 a year for three years. If the start is delayed one year, the initial cost will rise to $520 and the cash flows will increase to $385 a year for three years. What is the value of the option to wait
Answer: $0.70
Explanation:
The value of the option to wait would be calculated thus:
Year Cash flow PVF at 12% PV
0 $-480 1.000 $(480.00)
1 $350 0.893 $312.50
2 $350 0.797 $279.02
3 $350 0.712 $249.12
Then, the Net present value will be:
= 312.50 + 279.02 + 249.12 - 480.00
= $360.64
Year Cash flow PVF at 12%. PV
0 $-1.000 1.000. 0
1 $-520 0.893 $(464.29)
2 $385 0.797 $306.92
3 $385 0.712 $274.04
4 $385 0.636 $244.67
Net present value = $361.34
The value of the option to wait would then be calculated as:
= $361.34 - $360.64
= $0.70
Act Now!, an organization devoted to voting rights, applied for a permit to protest the closing of polling places in poor neighborhoods. Genevieve, the head of the organization, wanted the protest to be on the lawn of the county courthouse. The county denied the permit on grounds that it would prevent people from accessing the courthouse. If Act Now! challenges this action in court, it will be reviewed by the judge using:___________
a) strict scrutiny.
b) rational basis scrutiny.
c) intermediate scrutiny.
d) no particular form of scrutiny (none is required in this situation)
Answer:
c) intermediate scrutiny.
Explanation:
In this particular scenario this will be reviewed by the judge using intermediate scrutiny. In this review the court will decide whether or not the case helps the government and/or the people in any way. The court case interests must further the interests of the government or people in the same way for it to pass the review. If the court case passes the review it will be reassessed and may be voted upon differently depending on the other details at hand.
On January 1, 2021, Jasperse Corporation leased equipment under a finance lease designed to earn the lessor a 12% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $75,000 beginning January 1, and each December 31 thereafter through 2029. A 10-year service agreement was scheduled to provide maintenance of the equipment as required for a fee of $5,000 per year. Insurance premiums of $4,000 annually are related to the equipment. Both amounts were to be paid by the lessor and lease payments reflect both expenditures. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) At what amount will Jasperse record a right-of-use asset
Answer:
$442,977.5
Explanation:
Calculation for what amount will Jasperse record a right-of-use asset
Right of use asset = ($75,000 -$5,000) x PVAD, 12%, 10
Right of use asset =$70,000*6.32825
Right of use asset =$442,977.5
Therefore what Jasperse will record a right-of-use asset will be $442,977.5
A local university has a goal of raising $500,000 for an escrow account. Their fund-raising committee has committed to raising $5,000 a month until they reach their goal. These funds are deposited into an interest-bearing account that earns interest at the rate of 8 percent per year compounded monthly. The first deposit is made at the end of the current month. How many months (aka how many deposits) can the committee expect to continue their fund-raising campaign
Answer: 77 months
Explanation:
Use the NPER function on Excel to find the answer.
Rate is compounded monthly so:
= 8% / 12
= 0.66667%
Payment = 5,000 per month
Present value = $0
Future value = 500,000
Value should be = 76.87 months
= 77 months
Your daughter is currently 10 years old. You anticipate that she will be going to college in 8 years. You would to have $136,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 3% per year, how much money do you need to put into the account today to ensure that you will have $136,000 in 8 years
Answer:
$107,359.66
Explanation:
We are to calculate the present value of $136,000
The formula for calculating present value is :
The formula for calculating future value:
P = FV / (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$136,000 / (1.03)^8 = $107,359.66