Answer:
$7,828.869
Explanation:
For computing new annual installment first we have to determine the equivalent worth of borrowed amount i.e $30,000 which is shown below:
= Borrowed amount × (1 + interest rate)
= $30,000 × (1 + 0.07)
= $30,000 × 1.07
= $32,100
Now the new annual installment is
= Equivalent worth of borrowed amount × (A/P,7%,5%)
= $32,100 × 0.24389
= $7,828.869
Refer to the A/P table for determining the factor
This statement " The amount of net income determined for an accounting period will be the same regardless of whether the income statement is prepared under a contribution margin format used in managerial accounting or the product costing format use in financial accounting " is TRUE
Explanation:
Regardless of the medium used, the sum of net costs and revenue would be the same.
The discrepancy between the two systems depends on the categorisation of prices.
The balance sheet and cash flow report also take care of the capital expense on the income statement. Fixed expenses can be short or long-term liabilities on the balance sheet. Eventually, the declaration of Cash Flow shows any funds spent for fixed cost expenditures. In addition, rising spending and increasing income will support a company's overall goals.
Answer: d. founder: second-stage entrepreneur
Explanation:
The founder is the person who initiates the business therefore John in this scenario is the founder of the business.
A second-stage entrepreneur is the person who takes over the business after the company leaves its initial startup phase. As Larry now runs the business even though John founded it, Larry would rightly be classified as a second-stage entrepreneur as he runs the business after the startup phase where John founded it.
Answer:
Assets: 180,000
Explanation:
Accounting Equation Formula:
Assets = Liabilities + Owner's Equity
The accounting equation shows which resources the company has for the development of its activities and how they are financed. Assets are those mentioned resources, such as cash, bank accounts, inventory, etc. Those assets can be financed by external or internal sources. Liabilities represent external sources, which means, obligations. Instead, Owner's Equity represents internal sources, which means issuing equity shares. As every resource have to be finance either external or internally, the value of the Asset should match the add of Liabilities and Owner`s Equity.
Answer:
Cobe Company
Analysis statement
sell as pocess further
<u>Sales:</u>
product B (5,600*$105) $588,000
product C ( 11,200*$70) <u> 784,000</u>
1,372,000
<u>Relevant Cost :</u>
manufacturing cost (28,000*28) 784,000
Additional cost <u>420,000 1,204,000</u>
Income <u>168,000</u>
<em>The incremental net income is $168,000.</em>
<em>Therefore, the company should process further before selling the product</em>
Explanation: