Answer:
$29,750
Explanation:
Since the Annual Payments of $53,343 are all equal for the period of 10 years at 8.5% installment note, therefore we Simple interest formula here to calculate the interest amount;
I = Prt
P = Principal Amount = $350,000
r = Interest Rate = 8.5%
t = time = 10-year
I = Interest = 350,000 x 0.085 x 10 = 297,500
Hence, the first annual payment of interest expense will be:
= 297,500 / 10 = $29,750
Answer:
Net income will be decreased by $150.
Explanation:
Given:
The credit balance of interest payable (Opening) = $200
Credit balance of interest payable (Closing) = $50
Net income will be decreased by $150.
Decreased net income = credit balance of payable (Opening) - credit balance (Closing)
Decreased net income = $200 - $50
Decreased net income = $150
The interest of $150 was paid which would reduce the net profit.
To persuade people to go to funland
reason why is because it is showing that funland has more types of attractions, and a better price for it...
Answer:
1.
c. $21
2.
b. $20
Explanation:
1.
In lower-of-cost-or-market comparison, the cost of the product and the realizable value of the product are compared and lower is used to value the available inventory.
In the given Scenario the realizable value of product Z is the recoverable value of the product.
Hence The replacement value of $21 should be used in the lower-of-cost-or-market comparison.
2.
Calculate the net recoverable value for the product Z
Net recoverable value = Selling price of product Z - Cost to sell product Z
Net recoverable value = $25 - $3 = $22
Now by comparing the cost and net realizable value the lower value is cost of $20.
Hence $20 will be used in order to value the inventory.
This is an easement created by statute or court action.
<h3>What is a statute?</h3>
It should be noted that a statute simply means a written law that's passed by a legislative body.
In this case, purchases a property. the deed includes a description of an easement given to the neighboring property. this is an easement created by an easement created by statute or court action.
Learn more about laws on:
brainly.com/question/946945
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