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skelet666 [1.2K]
3 years ago
13

Q 4.26: on december 31, 2017, before any year-end adjustments, canterbury shoe repair's prepaid insurance account had a balance

of $3,500. It was determined that $2,200 of the prepaid insurance had expired. The adjusted balance for prepaid insurance at december 31, 2017, will be
Business
1 answer:
melamori03 [73]3 years ago
3 0

<u>Calculation of adjusted balance for prepaid insurance at December 31, 2017:</u>


It is given that on December 31, 2017, before any year-end adjustments, Canterbury shoe repair's prepaid insurance account had a balance of $3,500. It was determined that $2,200 of the prepaid insurance had expired.

So the adjusted balance for prepaid insurance at December 31, 2017, shall be (3500-2200) = <u>$1,300</u>




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Answer:

Project A's payback period = 2.23 years

Project B's payback period = 3.3 years

Explanation:

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initial investment                                 $290,000               $210,000

useful life                                               6 years                   11 years

yearly cash flow                     $83,653 + $46,500     $46,000 + $17,727

                                                         = $130,153                = $63,727

salvage value                                          $11,000                 $15,000

payback period                      $290,000 / $130,153  $210,000 / $63,727

                                                        = 2.23 years              = 3.3 years

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3 years ago
Scott Rolen, major league third baseman, agrees to defer $5 million from his salary this year for 10 years at 7 percent compound
iVinArrow [24]

Answer:

What will be the amount of this annuity payment?

$711.888

Explanation:

N Monthly principal interest Net value

                           5.000.000

1 711.888 361.888 350.000 4.638.112

2 711.888 387.220 324.668 4.250.893

3 711.888 414.325 297.562 3.836.568

4 711.888 443.328 268.560 3.393.240

5 711.888 474.361 237.527 2.918.879

6 711.888 507.566 204.322 2.411.313

7 711.888 543.096 168.792 1.868.218

8 711.888 581.112 130.775 1.287.106

9 711.888 621.790 90.097 665.315

10 711.888 665.315 46.572 (0)

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2 years ago
Which of the following is not a fee that contributes to the initial cost of leasing a car? a. First payment b. Final payment c.
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The final payment is <u><em>not </em></u>a fee that contributes to the original cost of leasing an automobile, option B is the correct answer.

<h3 /><h3>How is leasing charged?</h3>

The first payment is, predictably, the same as one month's rent.

A lender or lessor will impose an acquisition fee to offset the costs of establishing a loan or lease agreement.

A disposition fee, sometimes known as a turn-in fee, is a cost associated with returning a rented vehicle.

Therefore, final payment doesn't contribute to leasing a car.

For more information about leasing, refer below

brainly.com/question/1059164

6 0
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Read 2 more answers
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Cross-elasticity of demand is a) the willingness to substitute other products.

If the goods are alternative products, the cross elasticity of demand is tremendous which means that demand for one product will increase when the charge of the alternative product will increase and vice versa

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The go-rate elasticity formulation is an equation for calculating the pass-price elasticity of call for (XED) of separate services or products: go rate elasticity (XED) = (% change in call for of product A) / (% alternate of fee of product B), wherein merchandise A and B are exceptional services.

In economics, the pass elasticity of call for or go-price elasticity of demand measures the percentage change of the quantity demanded an awesome to the percentage change in the fee of another proper, ceteris paribus.

The cross elasticity of call for is an economic concept that measures the responsiveness in the amount demanded of one good while the fee for some other correct modifications.

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Barney Googal owns a garage and is contemplating purchasing a tire retreading machine for $12,820. After estimating costs and re
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Answer:

the present value is $13,588.97

Explanation:

The computation of the present value of the retreading operation is shown below:

As we know that

Present value = Future value ÷  (1 + rate of interest)^time period

= $2,700 ÷ 1.09^1 + $2,700 ÷ 1.09^2 + $2,700 ÷ 1.09^3 + $2,700 ÷ 1.09^4 + $2,700 ÷ 1.09^5 + $2,700 ÷ 1.09^6 + $2,700 ÷ 1.09^7

= $13,588.97

Hence, the present value is $13,588.97

5 0
2 years ago
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