Answer: a. $73,810.88
b. $10,185.18
Explanation:
a. The payments of $11,000 are constant so this can be considered an Annuity.
The cost of the Computer is it's present value which is,
Present Value of Annuity = Annuity Payment * Present Value Interest Factor of Annuity, 11%, 10 periods
= 11,000 * 6.71008 (Payment is made at the end of the year so this is an Ordinary Annuity)
= $73,810.88
b. When an Annuity is instead paid at the beginning of the period it is considered to be an Annuity due.
The formula is the same but for the figures ,
Present Value of Annuity Due = Annuity * Present Value Interest Factor of an Annuity Due, 11% , 10 periods
73,810.88 = Annuity * 7.24689
Annuity = 73,810.88/7.24689
= $10,185.18
Answer:
$11,650
Explanation:
The adjusted cash balance per bank at August 31 2022 is calculated as;
= Cash balance per bank - Outstanding checks + Deposits in transits
Given that;
Cash balance per bank = $10,690
Outstanding checks = $840
Deposits in transits = $1,800
= $10,690 - $840 + $1,800
= $11,650
Therefore the adjusted cash balance per bank is $11,650. It means that the cash balance per bank statement has to be adjusted to accommodate outstanding checks and deposits in transit. For outstanding checks , they are checks that have not yet been found on the bank statement , while deposits in transit are those deposits, that have not yet been found or appear on the bank statement.
Answer:
self-managed
Explanation:
Self-managed teams are made up of a group of workers that are responsible for defining and signing responsibilities and tasks. They tend to be extremely integrated groups that work very well together. As their name suggests, they are allowed to make decisions and manage themselves, including the supervision and control of each member's performance.
Answer:
The Journal entry is as follows:
Land A/c Dr. $400,850
To Cash A/c $100,850
To Notes payable $300,000
(To record purchase of land with cash and notes payable)
Workings:
Purchase price of land = $392,000
Total cost of land:
= Purchase price of land + Property taxes + Title insurance + Removal of building
= $392,000 + $2,100 + $950 + $5,800
= $400,850
The contract must be very detailed and should include all the contingencies spelled out in it.
<u>Explanation:</u>
Contract is a document that is made between two or more than two parties who have come in to an agreement with each other over a particular thing. The contract might be a business contract that the parties make which should have the proportion of profit and liabilities of the business that is to be shared among the partners.
Since the profit and losses are to be shared between the business partners on the basis of this contract, the contract should have very detailed information in it and all the contingencies should be spelled out in it.
