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julia-pushkina [17]
3 years ago
7

On December 31, 2020, Flint Corporation sold for $150,000 an old machine having an original cost of $270,000 and a book value of

$120,000. The terms of the sale were as follows: $30,000 down payment $60,000 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar? (The present value of an ordinary annuity of 1 at 9% for 2 years is 1.75911.)
Business
1 answer:
dalvyx [7]3 years ago
3 0

Answer:

$105,547

Explanation:

Original cost of machine = $270,000

Machine sold for = $150,000

Book value = $120,000

Down payment = $30,000

$60,000 payable on December 31 each of the next two years .

Present value of an ordinary annuity of 1 at 9% for 2 years = 1.75911

The amount of the notes receivable net of the unamortized discount:

= Amount paid on December 31st ×  Present value of an ordinary annuity

= $60,000 × 1.75911

= $105,547

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3 0
1 year ago
Wayne worked in an office. He had no criminal record, had never had a complaint made against him about his work or his conduct,
boyakko [2]

Answer:

A) there was no way to foresee that the incident would happen.

Explanation:

Wayne hadn't done anything wrong before in the company, his behavior at the workplace could be described as very good; no complaint in 20 years and no criminal record what so ever. If Wayne was frustrated about his job, he disguised it very well. No one can predict this type of behavior if the person shows no prior signs of violence or frustration.

6 0
3 years ago
Using the data set below, what would be the forecast for period 5 using the exponential smoothing method? Assume the forecast fo
elena55 [62]

Answer:

The answer is C: 14300

Note: The actual answer is 14296, <em>and </em>the closest to that was option C.

Explanation:

Formula to calculate forecast using Exponential smoothing:

  •    F_{t} = F_{t-1} + \alpha ( A_{t-1} - F_{t-1} )

Where,

  • F_{t} = New Forecast
  • F_{t-1} = Previous period's forecast.
  • \alpha = Smoothing Constant
  • A_{t-1} = Previous period's Actual Demand.
  1. Calculating the forecast for period 5:

Data:

  • F_{5} = ?
  • F_{t-1} = 14000
  • \alpha = 0.4
  • A_{t-1} = 14750

Putting <em>values in the formula:</em>

F_{5} = 14000 + 0.4(14750-14000)

F_{5} = 14000 + 0.4 (740)

F_{5} = 14000 + 296

F_{5} = 14296

4 0
3 years ago
Major Co. reported 2016 income of $303,000 from continuing operations before income taxes and a before-tax loss on discontinued
Mama L [17]

Answer: $109,080; $145,920

Explanation:

Based on the information that have been provided in the question, the following can be gotten:

The amount for income tax expenses will be:

= 36% of $303,000

= 36/100 × $303,000

= 0.36 × $303,000

= $109,080

The net income will be:

Reported income = $303,000

Less income tax = $109,080

Less loss on discounted operation = $48,000

Net income = $145,920

Loss on discounted operation:

= $75,000 × (1 - 36%)

= $75,000 × (1 - 0.36)

= $75,000 × 0.64

= $48,000

3 0
3 years ago
Imagine a hypothetical economy with a population of 100 people, 80 of which over sixteen. Forty eight of these people who are wo
Ainat [17]

Answer:

a) unemployment rate = 15

b) unemployment rate = 2.5

Explanation:

unemployed people are those who are willing and available to work and have actively been seeking a job in the past four weeks. This accurately describes the 12 people who are willing, able and looking for work but cannot find jobs. To calculate the unemployment rate in percentage, the following formula is used:

unemployment\ rate = \frac{number\ of\ unemployed}{labour\ force} \times 100\\

Where:

a) Number of unemployed = 12

Labour force = 80 (number of people over 16 years of age)

\therefore unemployment\ rate = \frac{12}{80} \times 100 = 0.15 \times 100 = 15\\

b) if 10 of the unemployed people get discouraged and give up looking for work, the number of unemployed becomes 2 persons, (12 - 10 = 2).

\therefore unemployment\ rate = \frac{2}{80} \times 100 = \frac{200}{80} =  2.5

6 0
3 years ago
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