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maxonik [38]
3 years ago
15

Polo Publishers purchased a multi-color offset press with terms of $40,000 to be paid at the date of purchase, and a noninterest

-bearing note requiring payment of $30,000 at the end of each year for five years. The interest rate implicit in the purchase contract is 11%. Polo would record the asset at:
Business
1 answer:
Ivanshal [37]3 years ago
3 0

Answer:

$150,876.91  

Explanation:

To calculate, the present value of an ordinary annuity formula is used as follows:

PV = P × [{1 - [1 ÷ (1+r)]^n} ÷ r] …………………………………. (1)

Where;

PV = Present value of the payments =?

P = yearly payment = $30,000

r = interest rate = 11% = 0.11

n = number of years = 5

Substitute the values into equation (1) to have:

PV = $30,000 × [{1 - [1 ÷ (1+0.11)]^5} ÷ 0.11] = $110,876.91

Amount to record = $40,000 + $110,876.91 = $150,876.91  

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Answer: Option C

Explanation:

A. As per the general principles of accounting expenses are recorded on the debit side thus they are increases when debit transaction is made.

B. Transactions involving liabilities are recorded on credit side of the accounts.

C. Revenues are recorded on credit side of the transactions thus revenues increased when accounts are credited.

D. Transactions involving purchase of assets are recorded on debit side thus debit transactions increases debits.

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Carlos was born with cataracts in both eyes. Even though they were removed when he was 5, his lack of visual experiences during
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d) degeneration of neural connections in visual reception areas of the brain.

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2 years ago
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Jeff's Pizzeria can handle 30 orders during the day. It wanted to increase this number, so it started making its delivery boys d
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Jeff's pizzeria can handle 30 orders during the day.It wanted to increase this number,so it started making its delivery boys do minor chores in the kitchen when they were not out for delivery and made some of the chefs pick up customers' calls.This doubled the number of order Jeff's Pizzeria could handle.This approach is an example of <u>Synergy</u>

Answer: The correct answer is (B)

<u>Explanation:</u>

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6 0
3 years ago
Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000
umka21 [38]

Answer:

<em>Collections for September is $ 57,100</em>

Explanation:

Computation of cash receipts for September

Collections from cash sales of September                                       $   5,000

Collections from credit sales of August - 57 % of $ 50,000           $  28,500

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3 years ago
What evaluation criteria is used in economic analysis?a. Time to completion b. Technical feasibility c. Sustainability d. Financ
Ilia_Sergeevich [38]

Answer:

The evaluation criteria used in economic analysis is:

d. Financial units (dollars or other currency)

Explanation:

The evaluation criteria for economic analysis is usually based on financial units, which are national currencies.  They represent the monetary values of the elements of any economic analysis.  For instance, to ascertain the profitability or otherwise of a transaction, the sales value is compared to the costs.  The excess of the sales value over the costs is regarded as the profit.  The reverse is regarded as the loss.  The evaluation criteria for these two economic analysis is based on the financial units of sales and costs expressed as national currencies.

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