Answer:
6.7 years
Explanation:
According to the scenario, computation of the given data are as follows,
Investment = $520,000
Net cash flow = $78,000
Life of equipment = 10 years
So, we can calculate the payback period for investment by using following formula,
Payback period for investment = Initial Investment ÷ Net cash flow
= $520,000 ÷ $78,000
= 6.67 years or 6.7 years
Answer:
Becky's loss = $60,000
Ann's loss = $31,068
Explanation:
Assuming a 365 day year, the loss allocation should be as follows:
- Ann (then Scott) 50% x $120,000 = $60,000
- Becky 50% x $120,000 = $60,000
From the 50% that corresponds to Ann:
- Ann = 189/365 x $60,000 = $31,068.49 = $31,068
- Scott = $60,000 - $31,068 = $28,932
Answer:
the contract is a. void.
Explanation:
this is because Huck has been declared as mentally incompetent by the court and that can only be changed by the court as well. so, when he agrees to sell and create a contract, it becomes void, no matter the value is or how closely it relates to the market value.
if it was Inez who came into the contract, then the contract would have been legally binding.
Answer:
d.$8,327
Explanation:
The computation of the amount used in the adjusting entry is shown below:
= Beginning balance of office supplies + supplies purchased - ending balance of office supplies
= $7,362 + $3,421 - $2,456
= $8,327
The adjusting entry is
Supplies expense $8,327
To Supplies A/c $8,327
(Being the supplies expense is recorded)
For recording this transaction we debited the supplies expense as it increased the expense account and credited the supplies account as it reduced the asset account
According to the given information, Mr Stanley would be considered an entrepreneur.
Hope this helps
