If 2.80 is the amount of discount what is the original price

A company that produces pleasure boats has decided to expand one of its lines. Current facilities are insufficient to handle the

user100 [1]

Answer:

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Explanation:

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6r77rf[7]

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7 0

3 years ago

Flintlnc. provided the following information for the year 2017.

gtnhenbr [62]

Answer: See explanation

Explanation:

1. Prepare a single-step income statement for 2017. Shares outstanding during 2017 were 100,000. (Round earnings per share to 2 decimal places, e.g. $1.48.)

The income from continuing operations for earnings per share was calculated as:

= 285000/100000

= $2.85

The loss on discontinued operations was calculated as:

= 35190/100000 shares

= 0.35

Check the attachment for the solution.

2. Prepare aretained earning statement for 2017. Shares outstanding for 2017 were 100000.

Check the attachment for the solution

8 0

4 years ago

On December 31, 2016, Marin Inc. borrowed $4,500,000 at 12% payable annually to finance the construction of a new building. In 2

denis23 [38]

Answer:

$274,500

Explanation:

*March 1 : Amount spent = 540,000; Period = 10

Weighted average accumulated expenditure = (10/12)*540000= 450,000

*June 1: Amount spent = 900,000; Period = 7

Weighted average accumulated expenditure = (7/12)*900000= 525,000

*July 1: Amount spent = 2,250,000; Period = 6

Weighted average accumulated expenditure = (6/12)*2250000= 1,125,000

*December 1: Amount spent = 2,250,000; Period = 1

Weighted average accumulated expenditure = (1/12)*2250000= 187,000

Therefore total Weighted average accumulated expenditure = 2,287,500

Interest on weighted average = 12% * 2,287,500 = 274,500 = Avoidable interest

Calculation of Actual interest on the instruments;

Bond: 13%*6,000,000= 780,000

Note: 10%*2,400,000= 240,000

Loan: 12%*4,500,000= 540,000

Actual interest = 1,560,000

According to GAAP; The least amount between Actual Interest and Avoidable interest can be capitalized.

Following the figures above, amount of interest to be capitalized in 2017 in relation to the construction of the building is $274,500

4 0

3 years ago

The stock exchange is based upon the economic laws of what two things

BigorU [14]

<span>I'd like to answer this, but I don't understand the stock market. Pretty much Greek to me. But I would think stocks would depend on buyers and sellers and how well a company is doing. If people believe in the future, they will be buying. If the future looks grim, many will be selling. Both greatly effect the health of the market.</span>

8 0

3 years ago

O’Dell Vegetables purchased a harvesting machine on July 1, 2016, for $984,000. The machine was estimated to have a useful life

dusya [7]

Answer:

Depreciation expense in 2019 is $144,050

Explanation:

O’Dell Vegetables uses the straight-line method of depreciation, Depreciation Expense each year is calculated by following formula:

Depreciation Expense = (Cost of machine − Salvage Value )/Useful Life

From July 1, 2016 to 2018:

Annual Depreciation Expense = ($984,000 - $140,000)/8 = $105,500

Depreciation Expense in 2016 = $105,500x6/12 = $52,750

Accumulated Depreciation (end 2018) = $52,750 + $105,500 + $105,500 = $263,750

From 2019, the machine would become uneconomical after December 31, 2023:

Salvage Value = 0 and Remaining useful life = 5 year

Depreciation Expense = (Historical Cost - Accumulated Depreciation - Salvage Value) / Remaining Useful Life = ($984,000-$263,750-0)/5 = $144,050

Depreciation in 2019 is $144,050

7 0

3 years ago