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bogdanovich [222]
3 years ago
10

The _____ is a nationwide group of international trade attorneys who provide free initial consultations to small businesses on e

xport-related matters.
Business
1 answer:
kherson [118]3 years ago
8 0
Export Legal Assistance Network
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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli
Cerrena [4.2K]

Answer:

The balance in Eve's prepaid insurance account as of December 2021 is $18000 as shown below.

Explanation:

The balance of prepaid insurance would be the balance left after 12 months expense has taken from both amounts

Liability policy $36000*6/18=$12000

Crop damage policy $12000*12/24=$6000

Balance of prepaid insurance           $18,000

The balance of $18000 would be left in the prepaid insurance account,whereas the balance damage crop policy account would be enough for the coming year, there is a need for 6 months insurance policy payment in respect of liability policy in the year 2022

6 0
3 years ago
Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Product Units Cost
zysi [14]

Answer:

Martinez Company

Ending inventory is:

= $8,806.

Explanation:

a) Data and Calculations:

Product       Units   Cost per Unit   Market per Unit

Helmets       27             $ 55                   $ 59

Bats             20                 83                      77

Shoes           41               100                      96

Uniforms     45                 41                       41

Lower of cost or market value Valuation:

Product       Units   Cost per Unit   Market per Unit     LCM

Helmets       27             $ 55                   $ 59               $1,485

Bats             20                 83                      77                1,540

Shoes           41               100                      96               3,936

Uniforms     45                 41                       41                1,845

Total cost of ending inventory                                    $8,806

4 0
2 years ago
Dubai Corporation is looking to purchase a building costing $830,000 by paying $265,000 cash on the purchase date, and agreeing
neonofarm [45]

Answer:

Each payment is closest to $41,573.69.

Explanation:

This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value or the balance to pay for the building = $830,000 - $265,000 = $565,000

P =Quarterly payment or payment after every three months = ?

r = Quarterly interest rate = Incremental borrowing rate / Number of quarters in a year = 16% / 4 = = 4%. or 0.04

n = number of quarters = Number of years * Number of quarters in a year = 5 * 4 = 20

Substitute the values into equation (1) and solve for P, we have:

$565,000 = P * ((1 - (1 / (1 + 0.04))^20) / 0.04)

$565,000 = P * 13.5903263449677

P = $565,000 / 13.5903263449677

P = $41,573.69

Therefore, each payment is closest to $41,573.69.

4 0
3 years ago
Ms. Cole purchased a $546,000 insurance policy on her own life and named her son as sole beneficiary. She has paid $33,852 total
sergejj [24]

Answer:

Does she recognize income on the liquidation?

Yes, she must recognize the difference between the policy's surrender value and the total premiums paid = $42,042 - $33,852 = $8,190 must be recognized as income.

Does she recognize income on the liquidation?

No, she doesn't have to pay any taxes. Payments to terminally ill policy holders are treated in the same way as death benefits.

8 0
3 years ago
Read 2 more answers
Calculate the annual coupon payment if the semi-annual coupon paying bond price is $920, the yield for the bond is 6%, the bond'
Jobisdone [24]

Answer:

$48.40

Explanation:

Yield = 6%

Rate = Yield/2 = 6%/2 = 3%

YTM = 9

Nper = YTM*2 = 9*2 = 18

Face value = $1,000

Price(PV) = $920

Monthly payment = PMT(0.03, 18, -920, 1000)

Monthly payment = $24.1833

Coupon rate = (PMT/Face value) * 2

Coupon rate = (24.1833/1000) * 2

Coupon rate = 0.0241833 * 2

Coupon rate = 0.0483666

Coupon rate = 4.84%

Annual coupon payment = Face value * Coupon rate

Annual coupon payment = $1000 * 4.84%

Annual coupon payment = $48.40

4 0
3 years ago
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