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mestny [16]
3 years ago
6

Robert and pam get a $175,000 mortgage for 30 years at a fixed rate of 6.75%. their monthly payment amount is $1,135.05. what wi

ll the principal payment be when they make their fourth payment?
Business
1 answer:
MA_775_DIABLO [31]3 years ago
7 0

We will have to construct an amortization table as shown below to calculate the principal payment in the 4th payment

Month Payment Interest Principal Outstanding

0 175000.00

1 1135.05 984.38 150.68 174849.33

2 1135.05 983.53 151.52 174697.80

3 1135.05 982.68 152.37 174545.43

4 1135.05 981.82 153.23 174392.20

As per the above table. principal payment in the 4th payment = $153.23

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Teal Mountain Golf Inc. was formed on July 1, 2019, when Matt Magilke purchased the Old Master Golf Company. Old Master provides
g100num [7]

Answer:

Teal Mountain Golf Inc.

a. Journal Entry:

December 31, 2020:

Debit Amortization Expense $17,680

Credit Accumulated Amortization $17,680

To record the amortization expense for the year.

b. Intangible Assets Section of Teal Mountain Golf Inc. as at December 31, 2020:

Goodwill                     $160,000

less acc. amortization    16,000    $144,000

Trade Name                    6,000

less acc. amortization     1,200           4,800

Copyright                      19,200

less acc. amortization       480          18,720

Total net intangible assets          $167,520

Explanation:

a) Data and Calculations:

Amount paid for Old Master Golf Company = $780,000

Fair value of old master's assets = $810,000

Less liabilities =                                 (190,000) (620,000)

Purchased Goodwill =                                       $160,000

Intangible assets:      Amortization Period  Amortization Expense for 2020

Goodwill = $160,000      10 years                  $16,000 ($160,000/10)

Trade name $6,000        5 years                      1,200 ($6,000/5)

Copyright   $19,200      40 years                        480 ($19,200/40)

Total amortization expense for 2020 =       $17,680

6 0
3 years ago
Consider a monopolist currently selling output Q to two different markets: Market A and Market B. This monopolist is able to pri
sweet [91]

Answer:

1. This is true because demand in market A is more inelastic which means demand curve and marginal revenue curve are steeper in this market. at any quantity marginal revenue will be higher in market A than in market B

2. This is true because market where demand is inelastic have a higher price. This is because revenue is increased when higher price is charged in market with inelastic demand.

3. This is false/uncertain because when price is higher in market a the quantity will be lower relativity. This is due to the downward sloping demand function in which price is increased quantity will decline.

Explanation:

8 0
3 years ago
On April 1, 2017, La Presa Company sells some equipment for $18,000. The original cost was $50,000, the estimated salvage value
aksik [14]

Answer:

Option (a) is correct.

Explanation:

Depreciation in 2017:

=\frac{Original\ cost-Salvage\ value}{Useful\ life}\times time\ period

=\frac{50,000-8,000}{6}\times\frac{3}{12}

      = $1,750

Accumulated Depreciation = $29,400 + Depreciation in 2017

                                             =  $29,400 +  $1,750

                                             =  $31,150

Book value on date of sale = Original cost - Accumulated Depreciation

                                             = 50,000 - 31,150  

                                              = 18,850

Loss on sale = Book value on date of sale - Sales price

                     = 18,850 - 18,000

                     = $850 (Loss)        

8 0
3 years ago
Read 2 more answers
Investing in collectibles is very risky. True False
Basile [38]
Its true lol ......................................
3 0
3 years ago
Professor Very Busy needs to allocate time next week to include time for office hours. He needs to forecast the number of studen
Serhud [2]

Answer:

b. 77

Explanation:

The formula for forecasting is :

F_{t} = \alpha D_{t-1} + (1 - \alpha) F_{t-1}

where F_{t} is forecast for the period and D_{t} is the actual demand for the period.

Last week forecast is = \alpha * Demand 2 weeks ago + (1 - \alpha) * Forecast 2 weeks ago

0.2 * 65 + (1 - .02) * 90 = 13

Current week forecast is = \alpha * Demand Last weeks + (1 - \alpha) * Forecast Last weeks

0.2 * 50 + (1 - 0.2) * 83  = 77.

6 0
3 years ago
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