Answer:
a. $46,000
see the other answers in the explanation
Explanation:
(a) Fair value of leased asset to lessor $245,000
Less: Present value of unguaranteed residual value $24,335 X .63017
(present value of 1 at 8% for 6 periods) $15,335
Amount to be recovered through lease payments $229,665
Six periodic lease payments $229,665 ÷ 4.99271 $46,000*
*Present value of an annuity due of 1 for 6 periods at 8%.
b.
(c)
1/1/17
Lease Receivable 245,000
Cost of Goods Sold 229,665
Sales Revenue 229,665
Inventory 245,000
1/1/17
Cash 46,000
Lease Receivable 46,000
12/31/17
Lease Receivable 15,920
Interest Revenue 15,920
1/1/18
Cash 46,000
Lease Receivable 46,000
12/31/18
Lease Receivable 13,514
Interest Revenue 13,514
Answer:
annual net income is $23077.25
Explanation:
Given data:
sales volume = 4200 units
selling price/units $50
variable cost/units $25
fixed cost is $45000
Total sales 
selling price/unit 
variable cost/unit 
fixed cost 
sales 
variable cost 
difference = 229320 - 104737 = 124583
fixed cost = $43650
depreciation exchange = $11000
so total income prior to tax = 124583 - (43650 + 11000) =$ 69932.5
tax rate is 33%
so total income after tax is 
Answer:
C. That Mr. Parnell knew that the product was contaminated before shipment occurred
Explanation:
Answer:
The correct answer is $105,000.
Explanation:
According to the scenario, the given data are as follows:
Cost of the plane = $85,000
Modification cost = $20,000
So, we can calculate the net cost of the plane by using following formula:
Net cost of the Plane = Cost of the plane + Modification cost
By putting the value, we get
Net cost of the plane = $85,000 + $20,000
= $105,000
