1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Strike441 [17]
3 years ago
13

Peachtree Company borrows $30,000 from the local bank at 7% interest. The term of the note is five years, and the annual payment

s remain constant at $7,317. Determine the decrease in notes payable that Peachtree Company should record in the first year.
a. $1,735.
b. $5,217.
c. $2,100.
d. $7,317.
Business
2 answers:
grandymaker [24]3 years ago
4 0

Answer:

B

Explanation:

Here, in this question, we are asked to determine the decrease in notes payable that peachtree should record in the first year.

To determine this, we proceed as follows;

Interest payment for the first year = 30000*7% i.e 2100

Principal amount paid = Total amount paid - Interest amount

= 7317 -2100 i.e 5217

Notes payable should be reduced by 5217

Leviafan [203]3 years ago
3 0

Answer:

b. $5,217.

Explanation:

Note annual payment includes the interest payment for the period and the residual of total payment made and interest is the the payment towards the principal value of the lease.

Total Loan value = $30,000

Annual Loan payment = $7,317

Interest for the period = $30,000 x 7% = $2,100

Principal Payment = $7,317 - $2,100 = $5,217

The Liability is decrease by $5,217

You might be interested in
Broadway Corporation was granted a patent on a product on January 1, 2007. To protect its patent, the corporation purchased on J
Karolina [17]

Answer

The answer and procedures of the exercise are attached in image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

4 0
3 years ago
People who are high on authoritarianism do not do well
____ [38]

Answer:

(D) In organizations where employees expect clear directions.

Explanation:

Authoritarianism is coined from the word "authority". Authoritarianism is a system of ruling whereby the leader (Authoritative person or Dictator) gives all orders and doesn't expect to be questioned or argued with.

In organizations where employees expect clear directions, people who are high on authoritarianism will not do well, since they could switch orders indefinitely and expect no one to argue with them.

An authoritative boss could say that members of a department should submit their files to his desk by 3pm and then change his mind an hour to the deadline and send a new instruction that those employees should gather for a meeting (without their files) by 3pm.

Such confusion will impede the smooth running of day-to-day activities in that organization; especially as no one challenges the leader.

4 0
2 years ago
Read 2 more answers
The present government has initiated the tax reforms such as relaxation of taxes on relaxing a property sales tax, and removal o
DochEvi [55]

Answer:

= the IS curve shifts right and the

economy moves along the LM curve

Explanation:

= the IS curve shifts right and the

economy moves along the LM curve= the IS curve shifts right and the

economy moves along the LM curve= the IS curve shifts right and the

economy moves along the LM curve

5 0
2 years ago
Home & More is considering a project with cash flows of −$368,000, $133,500, −$35,600, $244,700, and $258,000 for Years 0 to
AVprozaik [17]

Answer:

Modified Internal Rate of Return (MIRR) is higher than the discount rate. Therefore, this offer should be accepted.

Explanation:

Find the given attachment

7 0
3 years ago
Which of the following serves as the justification for the periodic recording of depreciation expense? a. Association of efforts
SIZIF [17.4K]

Answer:

"B"

Explanation:

Depreciation is a practice of systematic allocation of the cost of an asset to the income generated over its useful life time , either on a straight line method or reducing balance.

As demanded by the matching concept of accounting , revenue are expected to be linked to associated expenses otherwise profit will end up being overstated and and management misinformed and wrong decisions likely to be taken

7 0
3 years ago
Other questions:
  • Olivia is trying to save for a new laptop computer. To help her save, she should start a _____.
    11·2 answers
  • Credit card A has an APR of 12.5% and an annual fee of $48, while credit card B has an APR of 15.4% and no annual fee. All else
    5·1 answer
  • What might happen if an economy is unable to produce wanted goods and services
    6·2 answers
  • What is the factorization of the trinomial below?
    10·1 answer
  • Davidson Electronics has the following: Units Unit Cost Inventory, Jan. 1 5,000 $ 8 Purchase, April 2 15,000 10 Purchase, Aug. 2
    5·1 answer
  • A state police force has set a height requirement of 5 feet 10 inches for all officers. this requirement is irrelevant to job ef
    8·2 answers
  • Jing-Sheng facilitated a hiring committee for his advertising company. Six employees (including two managers) met together to di
    15·1 answer
  • What is the minimum number of integers that you must pick between 0 and 9 (inclusive), such that two of them add up to 9?
    11·1 answer
  • How can entrepreneurship help school leavers to not become a part of the unemployed?
    6·1 answer
  • A traveler needs to _____________ only when upon returning from an international trip.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!