Answer:
$85,735
Explanation:
Calculation for what amount would the land be reported on the balance sheet
First step is to calculate the PV using Financial calculator
Down payment: $12,000
Present Value=PV = $73,734.81
PMT: $12,000
Interest rate =10%
Number of years =10 years
Second Step is to calculate the amount that would the land be reported on the balance sheet
Amount to be reported= $12,000+$73,734.81
Amount to be reported= $85,735
Therefore the amount that would the land be reported on the balance sheet will be $85,735
Answer:
UCL= <u>0.044</u>
LCL=<u>-0.004</u>
Explanation:
Use following formula to calculate the UCL and LCL
UCL = p + z
Where
P = defect rate = 2% = 0.02
z = sigma control chart limit = 3
n = samploe size = 300
PLacing values in the formula
UCL = 0.02+3
UCL = 0.02 + 3 x 0.008082904
UCL = 0.02 + 0.024248711
UCL = 0.044248711
UCL = 0.044
Now calculate LCL using folllowing formula
LCL = p - z
Where
P = defect rate = 2% = 0.02
z = sigma control chart limit = 3
n = samploe size = 300
PLacing values in the formula
LCL = 0.02 - 3
LCL = 0.02 - 3 x 0.008082904
LCL = 0.02 - 0.024248711
LCL = -0.004248711
LCL = -0.004
Answer:
December 21, 2016,General Journal entries
Account Debit Credit
Notes Receivable $10,000
Account Receivable $10,000
Explanation:
December 21, 2016,General Journal entries
Account Debit Credit
Notes Receivable $10,000
Account Receivable $10,000
The accounts receivable of Alpha company were debited for $10,000 from Bravo company, When bravo company issued the note, Alpha company accepted it. Due to this acceptance, Accounts receivable were replaced by notes payable. So accounts receivable in debit were reduced to zero and were credited. Now notes receivable were debited as new asset.
Answer:
Break-even point (dollars)= $3,087,500
Explanation:
Giving the following information:
Fixed Cost per Unit $50 Selling Price per Unit $325 Variable Costs per Unit $175 Target Operating Income $200,000.
Break-even point (dollars)= (fixed costs + profit) / contribution margin ratio
Break-even point (dollars)= (175*7000 + 200,000)/[(325 - 175)/325]= $3,087,500
Answer:
Net Sales = $343,630
Gross Profit = $127,140
Net Income = $67,000
Explanation:
XYZ Company
Income Statement
For the year ended, Dec 31, 20xx
Particulars $
Sales Revenue 367,810
Less: Sales returns and allowances (10,000)
Less: Sales discounts <u> (14,180)</u>
Net Sales 343,630
Less: Cost of goods sold <u> (216,490)</u>
Gross profit 127,140
Less: operating expenses <u> (28,500)</u>
Income from operation 98,640
Less: Income tax expense <u> (31,640)</u>
Net Income <u>67,000</u>