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Margarita [4]
3 years ago
13

During 2021, Marquis Company was encountering financial difficulties and seemed likely to default on a $300,000, 10%, four-year

note dated January 1, 2019, payable to Third Bank. Interest was last paid on December 31, 2020. On December 31, 2021, Third Bank accepted $250,000 in settlement of the note. Ignoring income taxes, what amount should Marquis report as a gain from the debt restructuring in its 2021 income statement?
Business
1 answer:
Nata [24]3 years ago
7 0

Answer:

$80,000

Explanation:

Calculation for the amount that Marquis should report as a gain from the debt restructuring in its 2021 income statement

Gain from the debt restructuring=$300,000 + ($300,000 x 10%) - $250,000

Gain from the debt restructuring=$300,000+$30,000-$250,000

Gain from the debt restructuring = $80,000

Therefore amount that Marquis should report as a gain from the debt restructuring in its 2021 income statement will be $80,000

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Write 2 paragraphs about comparing technology with checks when it comes to running a company​
hjlf

Answer:

       Checks like money-? Because then, you are talking prices. The higher the price the more it most likely is. If you run a company, to you you want to make the higher quality things more, unless you just want to scam somebody. Thats all i can do for now, i can finish later maybe.

Explanation:

Checks like money-?

3 0
2 years ago
Brewster’s is considering a project with a 5-year life and an initial cost of $120,000. The discount rate for the project is 12
Ket [755]

Answer:

NPV = $27,792

Explanation:

Net Present Value = Present Value of Future Cash Flows - Initial Investments

To compute the Present value of Future Cash Flows, we need to first compute the cash inflows during the life of the project:

Year 1: 2,100 * 20 = $42,000

Year 2: 2,100 * 20 = $42,000

Year 3: 2,100 * 20 = $42,000

The units of Year 4 and Year 5 are calculated as follows:

⇒ (0.5 * 1,400) + (0.5 * 2,500) = 1,950 units

Year 4: 1,950 * 20 = $39,000

Year 5: 1,950 * 20 = $39.000

Now, discount the cash inflows at a rate of 12% to calculate the Present Value of Future Cash Flows

⇒ <u>42,000 </u>+ <u>42,000</u>+ <u>42,000</u> + <u>39,000</u> + <u>39,000</u>

     (1.12)^1      (1.12)^2   (1.12)^3    (1.12)^4      (1.12)^5

⇒  37,500 + 33,482 + 29,895 + 24,785 + 22,130  

⇒ $147,792

Net Present Value = Present Value of Future Cash Flows - Initial Investments

NPV = 147,792 - 120,000

NPV = $27,792

3 0
2 years ago
Dan, a computer programmer, holds a garage sale to sell a lawnmower, some clothes, some CDs and some old clothes. Will, a lawyer
olga2289 [7]

Answer:

The correct answer is letter "D": Judy, an expert horse trainer, sells Bob a horse.

Explanation:

According to the Uniform Commercial Code (<em>UCC</em>) a <em>merchant </em>is a person who deals with a product or service of a business in which that person is regularly engaged. The <em>merchant </em>has knowledge and expertise related to the practices involved in the business transaction.

In that sense, only Judy, who is a horse trainer, would be labeled as a <em>merchant </em>by the UCC for selling a horse.

6 0
2 years ago
Halloween costume makers and retailers make generous profits from selling costumes that allow their wearers to be indian princes
goldenfox [79]

Answer:

Cultural appropriation

Explanation:

Cultural appropriation is a tradition and a system where one culture is adopted by individuals from another culture. This can be questionable when individuals from a prevailing society try to adopt a culture that is not so prevailing and when its a minority culture. And evidently cultural appropriation  is different from cultural exchange and there are different aspects that are debatable.

6 0
3 years ago
The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporati
lisov135 [29]

Answer:

$(52)

Explanation:

Calculation to determine the net pension asset/liability reported in the balance sheet at the end of the year

First step is to calculate the Ending PBO using this formula

Ending PBO=(Asset Beginning balance)+(Service cost)+(Interest cost)+(Loss on PBO)+Retiree benefits

Let plug in the formula

Ending PBO = $(880) + ($78) + ($44) + ($8) + $81

Ending PBO= $(929)

Now let calculate the Net pension liability

Using this formula

Net pension liability=(Ending PBO)+Ending balance

Let plug in the formula

Net pension liability = $(929) + $877

Net pension liability= $(52)

Therefore the net pension liability reported in the balance sheet at the end of the year is $(52)

5 0
2 years ago
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