Answer:
The rate at which to discount the payments to find sum borrowed is 12.68%
Explanation:
The discount rate to be used in computing the sum borrowed can e derived from the effective annual rate formula below:
Effective annual rate = (1 + Quoted interest rate/m)^m - 1
quoted interest rate is 8.40
m is the number of months in a year when compounding is done which is 12
effective annual rate=(1+8.40%/12)^12-1
effective annual rate=(1+0.01)^12-1
effective annual rate=(1.01)^12-1
effective annual rate=1.12682503
-1
effective annual rate=0.12682503=12.68%
Answer: $1000
Explanation:
First, we calculate the amount if bad debt expense which will be:
= 3% × $50000
= $1500
Therefore, the balance of accounts receivable at the end of the first year will be:
= Amount of bad debts expense - Account written off
= $1500 - $500
= $1000
Answer:
Explanation:
The government taxes packs of cigarettes both to discourage smoking and to raise tax revenue. The average excise tax on a pack of cigarettes is $2.50 per pack. The table below presents the annual demand and supply schedules, in billions of packs, both before and after the tax on packs of cigarettes.
In this report, there are three variables being
mentioned. These are:
1st variable = 19 minutes
2nd variable = 7 jumps
3rd variable = 79%
In this problem, I believe what we are asked to do is to
identify the type of variable the 2nd variable is. We are given that
the 2nd variable is “7 jumps”.
This means that the 2nd variable is quantitative because it
refers to or relating to a measurement of something rather than the quality. We
also know that jumps can only take whole numbers, not decimal. Therefore it is
also discrete. Hence, the 2nd variable is:
quantitative and discrete
Answer:
Puffin’s E & P after taking into account the distribution of the car is $6,000.
Explanation:
E & P will be decreased by the higher of the adjusted basis or the fair market value of the distributed property, net of any liabilities. The distribution losses will not be taken into consideration when determining E & P. Thus the current E & P of Puffin’s $30,000 is reduced by $24,000 ($30,000 basis of the car minus the liability amount). The remaining after the distribution current E & P will be $6,000.
Therefore, Puffin’s E & P after taking into account the distribution of the car is $6,000.
