Answer:
The amount of life insurance is $259700
Explanation:
Easy method for calculating amount of life insurance is a method for families with both spouses working, in good health, with average debt, and not more than three children. It gives an estimate of 7 years of income at 70%. Using easy method, the formula is given as:
life insurance requirement = Annual income × 7 years × 70%
Given that Annual income = $53000
amount of life insurance = $53000 × 7 years × 70% = $259700
The amount of track improvement cost that should be allocated to the Western Division is $3,200,000.
<h3>What amount should be allocated to
Western Division?</h3>
The amount that should be allocated to Western Division is a function of the miles travelled on the Western division.
The amount to be allocated to Western Division : (miles travelled on Western division / total miles travelled) x cost of the revision
- miles travelled on Western division = 800,000 miles
- total miles travelled = 1,200,000 + 800,000 = 2,000,000 miles
The amount to be allocated to Western Division : (800,000 / 2,000,000) x 8,000,000 = $3,200,000
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Answer:
$557,000
Explanation:
Operating activities: It includes those transactions which affect the working capital. It means that the increase in current assets and a decrease in current liabilities would be deducted and a Decrease in current assets and an increase in current liabilities would be added.
The computation is shown below:
= Income reported on the income statement + decrease in account receivable
= $539,000 + $18,000
= $557,000
The decrease in account receivable
= $142,000 in beginning of the year - $124,000 in end of the year
= $18,000
Answer:
$3,860
Explanation:
The balance in the account Allowance for Doubtful Accounts is expected to be the projected amount in receivables of the company that will not be converting to cash.
Therefore to calculate final balance of allowance for doubtful balance
Beginning balance 2700
Bad debt expense (410000*1%) 4100
Less: Written off -2940
Ending balance 3860
So answer is $3,860
Answer:
12%
Explanation:
The discount rate will be PV/FV -1
i.e., i = (Fv/pv )-1
i= (280/250) - 1
i = 1.12-1
i=12%
