Answer:
c
Explanation:
A stale green light is light that is about to turn yellow because it has been green for a while
Cover brake involves taking ones foot off the accelerator and hovering it over the brake pedal.
Cover brake is necessary when there is a stale green light in case there is a need to stop suddenly or reduce speed
Answer:
$3.64 million
The Npv can be turned into cash by borrowing $18.18 million today and paying back in one year time with the $20 million that would be paid
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-10 million
Cash flow in year 1 = $20 million - $5 million = 15 million
I = 10%
NPV = 3.63 million
The Npv can be turned into cash by borrowing $18.18 million today as the present value of 20 million is 18.18 million
20 million / 1.10 = 18.18 million
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Answer:
b. inventory for $600
Explanation:
Before giving the answer, first we have to compute the amount which is shown below:
= (Purchase amount of inventory - the cost of returned goods) × discount rate
= ($33,000 - $3,000) × 2%
= $30,000 × 2%
= $600
Since the payment is made within 10 days. So, Elkins can avail of the 2% discount.
This transaction would credit the inventory for $600 as in the perpetual inventory method the amount of discount is adjusted to the inventory amount.
The journal entry is shown below:
Accounts payable A/c Dr $30,000
To Cash A/c $29,400
To Inventory A/c $600
(Being the amount is paid and the difference would be credited to the cash account)
Answer:
The answer is: Reed's promise is not enforceable because he is a minor.
Explanation:
Minors (people under 18 years of age) are not allowed to participate in any kind of contract except for essential items like medicine or food.
In order for a promise to be enforceable, Reed's parents must give prior consent. Only if Reed was an emancipated minor would he be able to make contracts or legal promises, but apparently this isn't the case.