Answer:
It would take a total of 14.572001 Months to pay off the balance, with interest
Explanation:
$2470.04 Would take 12.6 months to pay off, therefore, you must apply 17.99% yearly interest to this figure.
$2470.04 * .1799 = $444.36 interest
Principal + interest = total
$2470.04 + $444.36= $2914.4
$2914.4 / $200 = 14.57 months
Answer:
Adjusting journal entries
a) 1 . Debit Depreciation $10500 Credit Accumulated depreciation $10500.
2 . Debit interest expense $40 , Credit Bank $40
3 . Debit Admission revenue $ 60000, Credit Unearned admission revenue $60000
4. Debit Prepaid expense $1100 , Credit Advertising expense $1100
5. Debit salary $4700, Credit Salary payable ( accrued salary) $4700
Explanation:
Depreciation = (cost - salvage value)/ useful life
it is said that the equipment has a useful life of 16 years at that date (31 Dec) and depreciation needs to be adjusted for the year. Even even that $192000 is Carrying amount it is not depreciable amount we still need to subtract the salvage value hence (192000- 24000)/16 = $10500 Depreciation
interest expense = 90000*8%*72/360 = $1440
The 72 days numerator is arrived at by adding the remaining 11 days in Oct plus full 30 days Nov plus full 31 days Dec. $1400 of interest has already been recorded so in adjusting to the total of $1440 we need to record $40 of interest.
december coupon = 2000*$30 =$60000
if the coupon admission book revenue for december is not included in the trial balance then its journal entry is debit bank $60000 credit unearned revenue $60000
Explanation:
The answer is True!!!!!!!
Answer:
c.$20,140
Explanation:
Net present value is the Net value all cash inflows and outflows in present value term. All the cash flows are discounted using a required rate of return.
Initial investment in the machine is the cash outflow and the net cash flows are the values that are used for Net present value.
Net Present Value = Present value of net cash flows - Initial Investment
Net Present Value = ( 95,000 x 4.212 ) - $380,000
Net Present Value = $400,140 - $380,000
Net Present Value = $20,140
Answer:
True
Explanation:
An example is at a checkout station of a grocery store, where they scan UPCs