Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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The type of accounting information intended to satisfy the needs of external users of accounting information is the Financial accounting.
<h3>Financial accounting</h3>
Financial accounting is the field of accounting concerned with the summary, and reporting of transactions related to a business.
In comparison with other fields, Managerial accounting includes accounting of cost, and intended for the use of internal users of the business.
Tax accounting is specifically intended for tax.
Therefore, it is financial accounting that is intended to satisfy needs of external users in a business.
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The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.
<h3>What is Globalization?</h3>
Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.
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The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.
Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.
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It was an art form in Egypt as well as in Greece<span />
Answer:
Purchases= 3,500lbs
Explanation:
Giving the following information:
Production= 4,000*1.5= 6,000 lbs
Beginning inventory= 5,000 lbs
Ending inventory= 2,500 lbs
<u>To calculate the direct materials purchase, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= 6,000 + 2,500 - 5,000
Purchases= 3,500lbs
