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spin [16.1K]
3 years ago
9

The Cash T-account of Rainbow, Inc. has a beginning balance of $52,000. During the year, $244,000 was debited and $241,000 was c

redited to the account. What is the ending balance of cash?
Business
1 answer:
morpeh [17]3 years ago
5 0

Answer:

Ending balance will be equal to $55000

Explanation:

We have given beginning balance = $52000

Debited amount = $244000

And credited amount = $241000

We have to find the ending balance of cash

Ending balance is given by

Ending balance = beginning balance + credit amount - credited amount

So ending balance =52000+244000-241000=55000

So ending balance will be equal to $55000

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Jarvis is a coffee farmer who wants to hedge his entire coffee crop that will be harvested by September. The December coffee con
aleksandr82 [10.1K]

Answer: Sell four December coffee future contracts at $2.00 per pound

Explanation:

Based on the scenario in the question, the number of contracts that is required for hedging the entire crop will be gotten by dividing the total number of crops by the pounds that are available in one contract. This will be:

= 150,000/37,500

= 4 contracts

Therefore, the answer will be for Jarvis to sell four December coffee future contracts at $2.00 per pound

6 0
3 years ago
Tool Manufacturing has an expected EBIT of $82,000 in perpetuity and a tax rate of 24 percent. The company has $143,500 in outst
Dima020 [189]

Answer:

The value of the firm according to M&M Proposition I with taxes is $513,824.62

Explanation:

Value of firm = [EBIT x (1-Tax) / Equity Cost] + [Debt x Tax rate]

Value of firm = 82000 x (1-24%) / 13% + 143500 x 24%

Value of firm = 62320 / 0.13 + 143500 x 0.24

Value of firm = 479,384.62 + 34,440‬

Value of firm = $513,824.62‬

7 0
3 years ago
Project A requires a $280,000 initial investment for new machinery with a five-year life and a salvage value of $30,000. The com
solong [7]

Answer:

4 years

Explanation:

Payback period is the time in which a project returns back the initial investment in the form of net cash flow.

Initial Investment = $280,000

Net Income = $20,000

To calculate the net cash flows add bask the depreciation expense in Net income each year.

Depreciation = ($280,000 - $30,000) / 5 = $50,000

Net Cash Flow = $20,000 + $50,000 = $70,000

Payback period = Initial Investment / yearly cash flow = $280,000 / $70,000 = 4 years

5 0
3 years ago
Delta Construction Corporation, a general contractor, hires Eagle Electrical Company, a subcontractor, to wire a new office buil
nignag [31]

Answer: excused by Delta's failure to pay.

Explanation:

Delta Construction Corporation hires Eagle Electrical Company, as a subcontractor, to wire its new office building. After the completion of the work, Eagles is owed more than $50000.

Eagle's suspension of work is most likely due to the excuse by Delta's failure to pay. Delta has a right to pay up the money owed to Eagle. Lack of payment can lead to court cases.

3 0
3 years ago
The date on which the principal amount is repaid to the bondholder is known as the​ ________.
blagie [28]
The answer is “Bond Maturity Date”.
8 0
1 year ago
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