Prebankruptcy counseling includes all of the following except:

Other than getting laborers to work their land, how did the sharecrop system benefit landowners? a. Government subsidies provide

LekaFEV [45]

The answer is D. It reduced their risk when cotton prices were low.

8 0

2 years ago

The 10% bonds payable of Crane Company had a carrying amount of $4060000 on December 31, 2020. The bonds, which had a face value

faust18 [17]

Answer:

The correct answer is "43,000".

Explanation:

The given values are:

Carrying amount,

= $4060000

Face value,

= $3900000

Now,

For June 30, 2021, the Interest expense will be:

= $4060000\times 10 \ percent\times \frac{1}{2}$

= $203,000$

For June 30, 2021, the cash interest will be:

= $3900000\times 8 \ percent\times \frac{1}{2}$

= $156,000$

Now,

On June 30, 2021, the premium's amortization will be:

= Interest expense - Cash interest

= $203,000-156,000$

= $47,000$

On retirement, the cash paid will be:

= $3900000\times 104 \ percent$

= $4,056,000$

On June 30, 2021, the less carrying amount will be:

= Carrying amount - amortization

= $4060000-47000$

= $4,013,000$

Then,

The loss on retirement as well as ignoring taxes will be:

= Cash paid - less carrying amount

= $4,056,000-4,013,000$

= $43,000$

6 0

2 years ago

You're prepared to make monthly payments of $310, beginning at the end of this month, into an account that pays 4 percent intere

umka2103 [35]

Answer:

59 Payments

Explanation:

Future value = $20,175

Monthly payment= $310

Interest rate= 4%/12 = 0.3333% per month

How many payments will you have made when your account balance reaches $20,175?

Now we use Ms Excel to calculate the number of payment

Number of payment = N(FV, -PMT, I/Y)

Number of payment = N(20,175 , -310 , 0.3333%)

Number of payment = 58.9989

Number of payment = 59.

8 0

2 years ago

You have just purchased a new car! You made a down payment of $5,000 and financed the balance. According to the purchase agreeme

erik [133]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

The down payment of $5,000 and financed the balance. According to the purchase agreement, you must pay $600/month for four years, beginning one month from today. The credit agreement is based on an annual interest rate of 12%.

First, we need to calculate the final value of the monthly payment.

FV= {A*[(1+i)^n-1]}/i

A= annual deposit= 600

i= 0.12/12= 0.01

n= 12*4= 48

FV= {600*[(1.01^48)-1]}/0.01= 36,733.56

Now, we calculate the present value:

PV= FV/ (1+i)^n= 36,733.56/ (1.01^48)= 22,784

Total cost= 22,784 + 5,000= $27,784

8 0

2 years ago

Equipment was purchased at a cost of $78,000. The equipment had an estimated useful life of five years and a residual value of $

lyudmila [28]

Answer:

Loss of $7,000

Explanation:

Data provided in the question:

Purchasing cost = $78,000

Residual value = $3,000

Useful life = 5 years

Selling cost = $8,000

Now,

Annual depreciation = [ Cost - Residual value ] ÷ Useful life

= [ $78,000 - $3,000 ] ÷ 5

= $75,000 ÷ 5

= $15,000

Therefore,

Accumulated depreciation of 4 years = 4 × Rate of depreciation

= 4 × $15,000

= $60,000

Therefore,

Book value at the end of 4 year = Cost - Accumulated depreciation

= $75,000 - $60,000

= $15,000

Since,

Book value at the end of 4 year is greater than the selling cost

therefore,

there is loss = Book value - Selling cost

= $15,000 - $8,000

= $7,000

Hence,

Loss of $7,000

7 0

3 years ago