True, you can use a formula in Excel spreadsheet!
Answer: A Property Management Agreement
Explanation: A Property Management Agreement is a legally binding contract between a property owner and a property manager which details the duties and responsibilities of the two parties.
A property owner is an individual or company that has owners right to the property. He is responsible for payment of rates and taxes that arise. While property managers may be responsible for finding and screening prospective tenants.
Note that a property owner may decide to manage his property himself but in a situation where he decides not to, he requests the services of a property manager to handle that task. In such a situation, a Property Management Agreement is prepared and is binding.
Answer:
The total amount of property, plant, and equipment that will appear on the balance sheet is $$1,950,000
Explanation:
The computation of the total amount of fixed assets are shown below:
= Land + Land (held for future use) + building + equipment + furniture - accumulated depreciation
= $100,000 + $800,000 + $800,000 + $450,000 + $100,000 - $300,000
= $1,950,000
The inventory is a current assets so it would not be included while computing the total value of the fixed assets.
To calculate the APR, we first calculate the monthly rate and then the APR (Annual percentage rate)
Monthly rate is calculated by using RATE function in excel as in =RATE(NPER,PMT,PV) where
NPER = number of period in months = 48
PMT = Monthly payment = 960
PV = Loan value = 38400
Monthly rate = RATE(48,960,-38400) = 0.77015%
APR = Monthly rate * 12
APR = 0.77015%*12
APR = 9.24% (Rounded to 2 decimals)
Answer:
C) International Financial Reporting Standards
Explanation:
The International Financial Reporting Standards are accounting standards which are recognized and issued out by the International Accounting Standards Board (I.A.S.B) and the International Financial Reporting Standard Foundation with the former being responsible for accepting or approving and issuing of standards used in accounting by accountants. These accounting standards make up a standard manner in which a company or firm's financial performance is evaluated using their financial statements which should be understandable. These accounting standards are used by firms which own shares on a public stock exchange.
