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Nutka1998 [239]
3 years ago
15

Adventure Travel signed a​ 14%, 10-year note for​ $152,000. The company paid an installment of​ $2,200 for the first month. Afte

r the first​ payment, what is the principal​ balance? (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
Business
1 answer:
Likurg_2 [28]3 years ago
5 0

Answer:

The principal​ balance is $151,573

Explanation:

For computing the principal balance, we need the following calculation which is shown below:

1. First we have to compute the 1 month interest payment which equals to

= Note amount × rate × 1 month ÷ total months in a year

= $152,000 × 14% × 1 ÷ 12

= 1773.33

2. Now deduct the first month interest  from installment amount which equals to

= Installment amount - Interest amount

= $2,200 - $1773.33

= $426.67

3. Now subtract step 2 amount from notes amount which equals to

= Notes amount - principal amount

= $152,000 - $426.67

= $151,573.33

Hence, the principal​ balance is $151,573

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In a condition given above where the Giannis Corporation sells a proportion of its trading securities, costing $9,000, for an amount of $10,000, the journal entry of the transaction would include a gain of $1,000. Therefore, the option C holds true.

<h3>What is the significance of gains?</h3>

The gains of a business organization can be referred to or considered as the surpluses earned by a company from the extraordinary and indirect operations, which are unrelated to its normal business activities. Any such gains are recorded under ''Other Revenues'' Accounts of the firm.

Therefore, the option C holds true and states regarding the significance of gains.

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The question seems to be incomplete. It has been added below.

Giannis corporation purchases debt investments as trading securities at a cost of $150,000 on December 1. This is its first and only purchase of such securities. On January 5, Giannis corporation decides to sell a portion of its trading securities (costing $9,000) for $10,000 cash. The journal entry to record this sale would include a:

A. Loss of $10,000

B. Gain of $10,000

C. Gain of $1,000

D. Gain of $9,000

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2 years ago
An increase in the demand for loanable funds will occur if there is A. an increase in the real interest rate. B. an increase in
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Answer:

C, a decrease in the real interest rate

Explanation:

When factors such as changes in expectation, technology, demands for goods and services, etc cause in shift in the demand curve for capital, interest rates act as the determinant of the capital demand.

If the interest rates of loans are high, capital demand will be reduced but in the event that interest rates are low, capital demand is high or increases.

Cheers

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Which is not a typical job responsibility for a marketing communications manager? A. Creating marketing presentations
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New Town Instruments is analyzing a proposed project. The company expects to sell 1,600 units, ±3 percent. The expected variable
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Answer:

  • What is the sales revenue under the worst-case scenario?

$ 125,032

Explanation:

Initial Escenario

TOTAL     Income Statement Unit   Quantity

$ 1,035,200 Total Net Sales       $ 647  1.600  

-$ 352,000 Variable Cost          $ 220  

-$ 64,000 Depreciation Expenses  

$ 619,200 Contributing Margin  

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Worst Case Escenario

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Price Fall 2% from $647 to $634

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Anual Fixed Cost Increase 2% from $438,000 to $446,760

Depreciation Expenses maintained at the same level.

TOTAL Income Statement Unit Quantity

$ 984,061 Total Net Sales $ 634  1.552  

-$ 348,269 Variable Cost         $ 224  

-$ 64,000 Depreciation Expenses  

$ 571,792 Contributing Margin  

-$ 446,760 Anual Fixed Costs  

$ 125,032 Segment Margin  

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When did Toronto​ pearson​Airport​(Canada) start​ using​ technology​ or​ scanner​
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Answer:

  1. Canada's busiest airport will soon start to use artificial intelligence- powered technology to detect weapons.
  2. The technology can detect both metallic and non-metallic weapons ranging from  guns and knives to explosives, according to Liberty Defense Holdings Ltd., a  Vancouver-based company which first marketed the technology.  Known as Hex wave, the technology works by capturing radar images, then using  artificial intelligence to analyze them for concealed weapons in bags or under clothing.  
  3. Liberty's CEO, Bill Riker explained, "radar essentially is emitting this form of energy,  it's reflecting off a person and it's identifying any items on a person's body that don't  belong on a body."
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