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kaheart [24]
3 years ago
11

Frasquita acquired equipment from the manufacturer on 6/30/2018 and gave a noninterest-bearing note in exchange. frasquita is ob

ligated to pay $550,000 on 4/30/2019 to satisfy the obligation in full.if frasquita accrued interest of $15,000 on the note in its 2018 year-end financial statements, what amount would it record the equipment on its 6/30/2018 balance sheet?
Business
1 answer:
Alinara [238K]3 years ago
5 0
Since this is a noninterest-bearing note, or a zero-interest-bearing note payable, what's entered into the 6/30/2018 balance sheet is the Future Value of the equipment. The future value, or the face value, is the amount that Frasquita is obligated to pay on 4/30/2019. 

This means that $550000 is the amount recorded as a Notes Payable in the 6/30/2018 balance sheet.
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The Unique Bookshelf Company is considering the purchase of a custom delivery van costing approximately $50,000. Using a discoun
Georgia [21]

Answer:

$1,200

Explanation:

Given that

Purchase of a customer delivery van = $50,000

discount rate = 20%

Present value of future cost savings = $51,200

Yield = 20%

Based on the above information, as per the net present value the initial cost of the equipment should not be more than the present value of cash inflows  i.e. $51,200

So the more than amount is

= $51,200 - $50,000

= $1,200

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3 years ago
Michael works as a sales representative for an oilfield supply business in West Texas. He sells highly technical safety equipmen
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Answer:

d. the complexity of the product.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. The pre-service strategies includes identifying the following target market, design, branding, market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Personal selling also known as face-to-face selling can be defined as a sales technique or strategy in which the salesperson meets with the potential buyer (customer) for the sole purpose of convincing him or her to buy a product.

For Michael, personal selling works better than other forms of promotion because of the complexity of the product i.e high technicalities associated with the product. The product Michael are highly technical and as such would require guidance or explanation on how to safely use them.

4 0
3 years ago
Adam, Ben and Erica are liquidating their partnership. Before selling the assets and paying the liabilities, the capital balance
ser-zykov [4K]

Answer:

Adam = $41,000 , Ben = $31,000 , Erica =$20,000

Profit and loss sharing Ratio respectively =1:1:2

<u>Requirement 1</u>

Cash available                                 $72,000

Add: Cash received from sale of   <u>$50,000</u>

non-cash assets

                                                         $122,000

Less: Cash paid against account   <u>$20,000 </u>

receivables  

Cash to be distributed                    <u>$102,000</u>

<u />

<em><u>Distribution</u></em><em> </em>

Adam= $102,000 * 1/4 = $25,500

Ben = $102,000 * 1/4 = $25,500  

Erica = $102,000 * 2/4 = $51,000

<u>Requirement 2</u>

Cash available                                 $72,000

Add: Cash received from sale of   <u>$25,000</u>

non-cash assets

                                                         $97,000

Less: Cash paid against account   <u>$20,000 </u>

receivables  

Cash to be distributed                    <u>$77,000</u>

<u />

<em><u>Distribution</u></em><em> </em>

Adam= $77,000 * 1/4 = $19,250

Ben = $77,000 * 1/4 = $19,250

Erica = $77,000 * 2/4 = $38,500

3 0
2 years ago
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Receiving an 'E' will not give you any point average.
6 0
3 years ago
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Answer:

CONSUMPTION TO THE LEVEL OF DISPOSABLE INCOME

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