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victus00 [196]
3 years ago
14

The manufacturing units of phoenix autos inc. uses a facility layout in which the workers remain in one location and the automob

iles move from one worker to another. each person in turn performs his or her assigned tasks on the automobiles. thus, phoenix autos inc. is using a _____.
Business
1 answer:
CaHeK987 [17]3 years ago
3 0
<span>The use of a system in which a physical product - in this case an automobile - is moved from one worker to the other, each of whom performs a specific assigned task upon the product, is known as an assembly line. This is a production concept whose creation is attributed to Ransom Olds, but has also been heavily utilized by Ford Motors since its early days. Specialized robots can also be utilized instead of human labor.</span>
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On January 1, a company borrowed cash by issuing a $300,000, 5%, installment note to be paid in three equal payments at the end
Stella [2.4K]

Answer & Explanation:

1- What would be the amount of each installment?

The principal to be paid in each instalment = $300,000/3 = $100,000

1st instalment = $300,000*5% + $100,000 = $115,000

2nd instalment = $200,000*5% + $100,000 = $110,000

3rd installment = $100,000*5% +$100,000 = $105,000

2- Prepare an amortization table for the instalment note.

Please see excel in attachment  

3- Prepare the journal entry for the second installment payment.

Debit loan payables account: $100,000

Debit Interest expenses: $10,000

Credit cash: $110,000

Download xlsx
5 0
3 years ago
Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account that currently pays 7%. How muc
diamong [38]

Answer:

$50,258.

Explanation:  

According to the scenario, computation of the given data are as follow:-

We can calculate the deposit amount at the end of 15 years by using following formula:-

Deposit Amount per year(PMT) = $2,000

Interest rate = 7% = 0.07

Deposit year (n) = 15 years

Future value(FVIFA) = PMT × [{(1 + interest rate)^number of years - 1} ÷ interest rate]

= $2,000 × [{(1 + 0.07)^15 - 1} ÷ 0.07]

= $2,000 × [{2.7590315 - 1} ÷ 0.07]

= $2,000 × [1.7590315/0.07]

= $2,000 × 25.129022

= $50,258

According to the analysis total deposit at the end of the year is $50,258.

         

5 0
3 years ago
Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an
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Answer:

Loan principal amount = $19,700

Bank M:

Interest rate charges = 7.1% compounded monthly

Loan will be paid off in = Five years

Bank N:

Interest rate charges = 7.8% compounded monthly

Loan will be paid off in = Four years

From the above information, we would recommend that Maria choose her loan from Bank M if she wants a lower monthly payments and Maria choose her loan from Bank N if she wants a lower lifetime cost.

3 0
3 years ago
Miles is floating happily on a rubber raft in his swimming pool in new jersey when the raft busts and cuts his eye. his doctor s
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Based on the scenario, Intack files a motion to have the case moved to federal court in New Mexico in which they claim that New Jersey lacks jurisdiction over the case in which made Intack not correct about their claims as they don’t have significant amount of business in the New Jersey and in addition, it could be expected that it is sued there.

5 0
3 years ago
Why do some products have to wait for government standards HELP PLEASE (food or any products)
SVEN [57.7K]

Answer:

because they have to make sure it is safe for the people to eat (for food)

so that the product's name won't be damaged and is safe to use (for products)

Explanation:

3 0
3 years ago
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