1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fed [463]
4 years ago
15

Camp Elim obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2021. If the monthly payment is $2,416.60, by

how much will the carrying value decrease when the first payment is made on January 31, 2021?A. $1,791.60 B. $625.00 C. $2,416.60 D. $1,000.60
Business
1 answer:
Virty [35]4 years ago
4 0

Answer:

The answer is A. $1,791.60

Explanation:

Annual interest payment on the loan is:

6% x $125,000

=$7,500

Therefore, monthly interest payment is $625($7,500/12 months).

Monthly payments (which comprise principal and interest payment) is $2,416.60.

The carrying value decrease when the first payment is made on January 31 was made will be:

$2,416.60 - $625

= $1,791.60

You might be interested in
Orange County Shop follows the revenue recognition principle. Orange County services a bicycle on July 31. The customer picks up
sp2606 [1]

The correct answer is A) July 31st.

Orange County shows that the revenue was recognized on July 31st.

The other options of the question were B) August 1. C) August 5. D) August 6.

To be successful, a business needs good control and operation systems. Accounting is of the utmost importance when controlling the finances of a company. You have to keep your records straight. Your accountant needs to clearly understand when to record revenue in your book. So the accountant has to understand the general principles of accounting. According to the revenue recognition principle, revenue has to be recognized when they are realized, so you keep it in the book.

4 0
3 years ago
Adam, the owner of adam's roofing, was talking to a visitor in his office, telling her that "we are a fun-loving group that beli
juin [17]
<span>adam was referring to his company's: Organizational culture

Company's organizational culture is a shared of value and principles that shared by all members of the companies.
This value and principles will influence every aspect of company's operation and how they deal with the problems that they face.</span>
3 0
3 years ago
What is yall favorite song minez is mood swings by pop smoke
Alex17521 [72]

Answer:

cool

Explanation:

4 0
3 years ago
Read 2 more answers
Noelle, assistant manager at Green Gardens Restaurant, is preparing a questionnaire to help her evaluate customer satisfaction.
wariber [46]

Hi there, i cannot find the complete question so that i can pick an option from so im going to do my best to answer your question.

Explanation:

Noelle can use the question: on a scale of 1 to 4, rate your level of satisfaction of the meal at Green Gardens Restaurant. 1 to 4 can be represented as shown below.

1- very bad

2- bad

3- good

4- very good

With this sort of question to customers, Noelle would be able to get an understanding of how bad or well the restaurant is doing in terms of customer satisfaction.

Cheers.  

7 0
4 years ago
Isaiah is lucky to have such talented friends. Here’s where you come in:
anygoal [31]

Answer:

I can't figure it out sorry

5 0
3 years ago
Read 2 more answers
Other questions:
  • He degree to which an organization achieves a stated goal rehttps://.com/35621172/mgt-3013-ch-2-flash-cards/
    9·1 answer
  • Knox Inc. is deciding between the two dividend payment plans below: Year Plan A Plan B 1$3.00$0.50 2$3.05$1.75 3$3.10$3.25 4$3.1
    12·1 answer
  • A railroad which runs between two cities offers two products: passenger and freight service. The marginal cost of carrying an ex
    15·1 answer
  • Oriole Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,000 and fair value of $87,000.
    10·1 answer
  • QUIZ ENDS AT 12:OOPM TODAY. WILL MARK BRAINLIEST!!!!!
    6·2 answers
  • Danaher Corporation manufactures a variety of products, including electronic measurement instruments and network communications
    5·1 answer
  • Bleeding Edge Technologies makes surgical scalpels which are supplied to medical equipment suppliers in boxes. The weekly demand
    14·1 answer
  • Hewo how are u today
    15·2 answers
  • Why does compound interest earn you a higher annual percentage yield
    9·1 answer
  • hard hat company is in the process of purchasing several large pieces of equipment from machine corporation. several financing a
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!