Answer:
The answer is B. $180,000
Explanation:
The sum of years' digits method is an accelerated depreciation that is based on the assumption that the productivity of the asset decreases with time.
Here, the sum of the digits are found. In this question, useful life is 5 years. So the sum of the digit is:
5+4+3+2+1 = 15.
April 1 20X4 through March 31 20X6 is 2 years.
First year depreciation is:
5/15 x $300,000
=$100,000
2nd year depreciation is:
4/15 x $300,000
=$80,000
Therefore, accumulated depreciation is
$100,000 + $80,000
$180,000
The monthly mortgage payment including principal and interest is $1,936.25
Explanation:
PV = (1 - 0.20) × $325,000 = $260,000
r = 0.041 / 12
t = 15 * 12 = 180
![C = \frac{PV}{\frac{1- [\frac{1}{(1+r)^{t} } ] }{r}}](https://tex.z-dn.net/?f=C%20%3D%20%5Cfrac%7BPV%7D%7B%5Cfrac%7B1-%20%5B%5Cfrac%7B1%7D%7B%281%2Br%29%5E%7Bt%7D%20%7D%20%5D%20%7D%7Br%7D%7D)
C = $260,000 ÷ [1 - {1 / (1 + 0.041 / 12)∧180} / (0.041 / 12)]
C = $1,936.25
The monthly mortgage payment including principal and interest is $1,936.25
Answer is 67.
As, 6+ 7
= 13
Also, when 67 is interchanged(76), the original no. is increased by 9.
Answer:
Jan. 22
Dr Cash $7,140,000
Cr Common Stock $6,300,000
Cr Paid in capital in excess of par $840,000
Feb. 27
Dr Cash $180,000
Cr Preferred Stock $135,000
Cr Paid-In Capital in Excess of Par-Preferred $45,000
Explanation:
Preparation of the entries for January 22 and February 27.
Jan. 22
Dr Cash $7,140,000
(210,000*$34)
Cr Common Stock $6,300,000
(210,000*$30)
Cr Paid in capital in excess of par $840,000
($7,140,000-$6,300,000)
Feb. 27
Dr Cash $180,000
(15,000*$12)
Cr Preferred Stock $135,000
(15,000*$9)
Cr Paid-In Capital in Excess of Par-Preferred $45,000
($180,000-$135,000)
