An item is regularly priced at $40 . tom bought it on sale for 65% off the regular price. how much did tom pay?

When a corporation purchases treasury stock, the acquisition:

goldenfox [79]

Answer:

A. decreases the company’s total assets and total stockholders' equity.

Explanation:

The journal entry will be: Treasury stock (Debit - Increased) 6,000 and Cash (Credit - Decreased) 6,000.

Treasury stock is a contra equity account that increases, decreasing Equity and Cash or another payment medium are assets that decrease, balancing the Accountable equation.

8 0

3 years ago

Starting on your 25th birthday, and continuing through your 60th birthday, you deposit 750 each year on your birthday into a ret

Tanya [424]

Answer:

9.09%

Explanation:

With the payment for first term with interest rate for 5%. we choose to set up problem as ordinary annuity, then we should use 36 rent periods because term would start at one period before first deposit.

We have formula with resulting equation to find out future value of first annuity, that gives a value of an annuity on his 60th birthday:

Formula is as under

S = R((1 + i)^n – 1) / i

putting values we get

= $750((1 + 0.05)^36 – 1) / 0.05

S = $71,887.24

Because value of S is located Fred’s 65th birthday, now you can use such value as present value of fund compounded for Five years. Future value of these fund, will later be equated to present value of annuity-due, is given by following equation:

S = P(1 + j)^n where i=j and n=5 so…

S = $718,772.42(1 + j)^5

Now you calculate present value of annuity-due & equate it to equation just give.For annuity-due, went as rent payments of $5,800 each with effective interest rate of 4%. Because this payments occur each month & annuity-due lasts for 25 years, you have (25*12) periods= 300 periods. Further, You must calculate new interest rate, given by following equation:

(1 + .04)^1 = (1 + i(12)/12)^12 Therefore… i(12)/12 = 0.00327

Now calculate present value of annuity-due:

P = R(1 + i)(1 – (1 + i)^-n)

P = $5800(1 + .00327)(1 – (1 + .00327)^300) / .00327

P = $1,111,979.

Finally, equate earlier equation with the new present value:

$1,111,979.84 = $718,772.42(1 + j)^5

Therefore j = 9.09%

8 0

3 years ago

You are planning to buy 2019 MINI Cooper on a loan. Price of the car is $26,000. You are planning to make monthly payments for t

Sergeu [11.5K]

Answer:

$1,223.91

Explanation:

As per the concept of time value of money, the value of money today is more than the value of money tomorrow.

Given:

Price of car = $26,000

Interest rate 12%, compounded monthly

Tenure = 2 years

Now, Price of the car is the value of money today to purchase the car. So, while computing the monthly payment for car $26,000 will be considered as present value.

Monthly payment for car can be computed easily using Microsoft excel.

Use the following mentioned formula to calculate the monthly payment.

"=PMT(rate,nper,pv,[fv])"

wherein,

Rate = 12%/2 (because it has been compounded monthly)

nper = 2*12 (because 2 years are to be compounded monthly.)

Pv = $26,000 (as mentioned earlier)

Since, there is no Fv so it blank.

5 0

4 years ago

Outlinr the selection procedure as a huma resource activity

erma4kov [3.2K]

Answer and Explanation:

A selection process as a human resources activity must be outlined, starting with the filling out of a form by the candidates for the vacancy that they are being offered through the selection. This form must contain basic information that will allow the human resources department to select people who have the minimum requirements necessary to participate in the next phase of the process. The next phase should be an interview, to get to know the candidates, assess their communication skills and ask incisive questions about the skills they have and the level of interest in the vacancy they are competing for. This is the key moment in the process, where the human resources department will be able to determine who deserves to be selected.

3 0

3 years ago

An annual insurance policy is paid in advance by a company. How will the company treat this initial payment and the subsequent e

jeka57 [31]

Answer:

The question requires the answering party to pick all that apply as found in the attached.

A. The initial payment will be recorded as an increase to a Prepaid Insurance account.

B. Over time, the expired portion of the policy must be removed from the asset account as it has been used up and is no longer considered an asset.

C. As a portion of the policy expires, the expired portion will be removed and transferred to an expense account.

Explanation:

The initial payment will be recorded as increase to an asset account,prepaid insurance is a correct statement,pending when the insurance cost is cost,

Subsequently,the expired the portion of the prepayment would be removed from the account,hence point B is also correct.

Finally,when the expired portion is removed from prepaid insurance account,it is transferred to insurance expense account,point C is also on point.

3 0

3 years ago