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dsp73
3 years ago
14

On december 31, 2017, swan company sold for $150,000 an old machine having an original cost of $170,000 and a book value of $120

,000. the terms of the sale were as follows: $30,000 down payment $60,000 payable on december 31 each of the next two years the agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of transaction. what should be the amount of the notes receivable net of the unamortized discount on december 31, 2017 rounded to the nearest dollar? (the present value of an ordinary annuity of 1 at 9% for 2 years is 1.75911.)
Business
1 answer:
nydimaria [60]3 years ago
7 0
The answer in this question is 105,546 dollars. The present value of the annuity is ($60,000 × 1.75911) or 105,546 dollars. The formula to get the present value of annuity is $60,000 * 1.75911 so we can get an answer which is 105,546 dollars.
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Which of the following statements about materials is false?
weqwewe [10]

Answer:

The correct answer is B

Explanation:

Purchase is the term which is defined as the bought or purchase of raw material that is necessary or required for the business in order to create or manufacture goods or services. So, that the product could be presented into the market for sale and the business could make profit from the sale of product.

So, the statement is false as the acquisition of material is charged to the purchase account.

5 0
3 years ago
As the price level rises ceteris paribus people holding some of their wealth in monetary form because:_____
klio [65]

Answer:

a. less wealthy and they buy less.

Explanation:

we are assuming a situation where the price level rises (inflation rises), so anyone holding cash will be able to purchase a smaller amount of goods with the same amount of cash simply because the goods are more expensive. E.g. you purchased 10 goods with $100, but if the inflation rate increases to 10%, you will be able to purchase only 9 goods with the same $100. As inflation rises, people holding cash (or other monetary form) will lose wealth and purchasing power.

6 0
3 years ago
Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as
tensa zangetsu [6.8K]

Answer:

Department M

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Department A

Manufacturing overhead rate = $400,000/800,000 hrs = $0.5/hr

Manufacturing overhead cost allocated:

Department M = $3 x 8,000      = $24,000

Department A  = $0.5 x 12,000 = $6,000

Total manufacturing cost allocated = $30,000

Explanation:

This relates to overhead absorption. The manufacturing overhead rate is calculated as budgeted manufacturing overhead divided by budgeted direct labour hour.

Manufacturing overhead allocated = manufacturing overhead rate x actual labour hour for each department for the job.

6 0
3 years ago
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Answer:

$3,210.94

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Operating costs:               ($5,500)

Depreciation:                    ($1,250)

Interest payment              ($218.75)

($3,500*6.25%)

Profit before tax               $4,281.25

Taxes(25%)                       ($1,070.31)

NOPAT                              $3,210.94

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3 years ago
When a government collect more revenue in one year than it spends there is a budge
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there would be a budget surplus

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3 years ago
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