Answer:
4 years
Explanation:
Payback period is the time in which a project returns back the initial investment in the form of net cash flow.
Initial Investment = $280,000
Net Income = $20,000
To calculate the net cash flows add bask the depreciation expense in Net income each year.
Depreciation = ($280,000 - $30,000) / 5 = $50,000
Net Cash Flow = $20,000 + $50,000 = $70,000
Payback period = Initial Investment / yearly cash flow = $280,000 / $70,000 = 4 years
Answer:
The account should be opened as a Joint account with tenancy in common. Option C.
Explanation: This type of account is one that is owned by at least two people and in which there is no rights of survivorship.
In this type of account, the members do not want their investments to go to other members of the joint account upon their death, but they specify in a will how the investment will be distributed to their beneficiaries.
Joint account with tenancy in common can hold an unequal amount of investment among members, but they still have equal rights to the account.
c pay the miminum balance each month
Answer:
Charles is classified in the adopter category called "Latecomers"
Explanation:
Latecomers are traditional consumers. For them, buying a new product brings a feeling of extreme psychological discomfort. They do not like news, even flee from it, and consider it immature to buy an innovative article in the market.
Latecomers represent 16% of consumers, are insecure to adopt new things, do not like to try new things and do not follow fads. Being traditionalists, they always perform the same way and only adopt innovation when there is no other alternative. Like Charles, who only bought the color TV because his old tv stopped working.
The question is incomplete. The complete question is as follows,
At December 31, 2011 the accounting records of Gordon, Inc. contain the following items:
Accounts Payable 2500
Land 30000
Building 31250
Notes Payable ?
Retained earnings 125000
Accounts Receivable 18750
Cash ?
Equipment 40000
Capital Stock 12500
If the Notes Payable is $10,000, the December 31, 2011 cash balance is:
Answer:
Cash = $30000
Explanation:
The accounting equation states that the sum of total assets is always equal to the sum of total liabilities plus total equity. We can state the equation as follows,
Total Assets = Total Liabilities + Total Equity
So,
(30000 + 31250 + 18750 + 40000 + Cash) = (2500 + 10000) + (125000 + 12500)
120000 + Cash = 12500 + 137500
Cash = 150000 - 120000
Cash = $30000
