Answer:
a. Journal entry to record the issue of notes
Date Account Title & Explanation Debit $ Credit $
Jan 1 Cash 350,000
Notes Payable 350,000
(To record the issue of notes payable)
b. Calculation of Interest Expenses
Particulars Amount $
Beginning balance of loan payment 350,000
Annual interest rate 4%
Interest expenses 14,000
Hence the interest expenses = $14,000
Principal amount is calculated as the difference between the annual payment and the interest expenses as seen below
Particulars Amount $
Annual payment 96,590
Less: Interest expenses 14,000
Principal Payment 82,590
Hence, the principal payment =$82,590
Answer:
hope it helps..
Explanation:
Change management is an important part of project management in which the original project plan, represented by the baseline, is used to measure and assess project execution. ... The initial baseline is created by copying the data from the project after the project plan is completed, prior to starting.
Answer: No. It does not violate Title VII if Cynthia's employer does not grant her the leave.
Explanation:
From the question, we are informed that Cynthia, requested a two-week leave from her employer to go on a religious pilgrimage and that the pilgrimage was not a requirement of her religion, but Cynthia felt it was a calling from God.
Based on the scenario, Title VII is not violated if Cynthia's employer does not grant her the leave. According to the court, when an employee says that based on his or her religious belief, he or she is required to go to a pilgrimage, the person has to prove beyond reasonable doubt.
In this case, her church which is the Roman Catholic didn't call for a pilgrimage as it was her personal choice. Therefore, Title VII is not violated if Cynthia's employer does not grant her the leave.
Answer:
8.20%
Explanation:
Debt equity ratio = 0.95
or
Debt = 0.95 × equity
Cost of equity, ke = 11% or 0.11
Pretax cost of debt, kd = 7% or 0.07
Tax rate = 24% or 0.24
Therefore;
WACC = {Weight of equity × ke } + {Weight of debt × kd × (1-Tax rate)}
It is to be noted that ;
Weight of equity = Equity ÷ (Debt + Equity)
= Equity ÷ ( 0.95×Equity + Equity)
=1 ÷ 1.95
=0.513
Also,
Weight of debt = Debt ÷ ( Debt + Equity)
=0.95 × Equity ÷ ( 0.95 × Equity + Equity)
= 0.95 ÷ 1.95
=0.487
Hence,
WACC = {0.513 × 0.11} + {0.487 × 0.07 × (1-0.24)}
= {0.05643} + {0.03409 × 0.76}
= 0.0823384
or
0.0823384 × 100%
=8.23384
=8.20%
Answer:
The correct answer is letter "B": existence, completeness, and rights and obligations.
Explanation:
Assertions are management claims about certain matters regarding a company. Those claims are raised as a result of <em>auditing</em> the firm's financial statements. There are three (3) types of assertions which are:
- Transaction-level assertions: <em>accuracy, classification, completeness, cutoff, and occurrence.
</em>
- Account balance assertions: <em>completeness, existence, rights and obligations, and valuation.
</em>
- Presentation and disclosure assertions: <em>accuracy, completeness, occurrence, rights and obligations, and understandability.</em>
