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Nitella [24]
3 years ago
10

Red Co. recorded a right-of-use asset of $100,000 in a 10-year finance lease. Payments of $16,275 are made annually at the end o

f each year. The interest rate charged by the lessor and known by Red was 10%. The balance in the lease payable after two years will be:
a) $80,000b) $116,309c) $86,823d) $121,000
Business
1 answer:
pychu [463]3 years ago
3 0

Answer:

c) $86,823

Explanation:

The balance in the lease payable after two years will be: $86,823

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Which one of the following statements about best practices is false?
alisha [4.7K]

Answer:

e. Normally, the best practices utilized by other organizations have to be adapted to fit the specific circumstances of a company's own business and operating requirements.

Explanation:

The best practices are the guidelines, ideas that are set by the company in order to run an organization in a better way. It is created by the regulators or the government bodies.

So going through the options, the option e is false as it reflects that it should be fit according to the specific needs and requirements of the business as well as the operating one

So this option would be considered

8 0
3 years ago
What is the primary goal of financial management for a sole proprietorship? maximize net income given the current resources of t
Ludmilka [50]

A sole proprietorship has the single owner of the business and the main goal of the owner is to increase the value of his capital invested in the business which is also called as Equity.  

The objective of maximization include the maximization of net income given the current resources of the firm  

A proprietorship has only one owner so there is no need to decrease long-term debt to reduce the risk to the owner.  

The proprietor wants to earn more income and he will have to pay more taxes so the goal is not to minimize the tax impact on the proprietor.  

Similarly, the goal is also not to minimize the reliance on fixed costs.

Hence the correct answer is:

Maximize the market value of the equity  


4 0
3 years ago
Beverly Company has determined a standard variable overhead rate of $1.25 per direct labor hour and expects to incur 1 labor hou
Elan Coil [88]

Answer:

(i) 95 (F)

(ii) 125 (F)

(iii) 220 (Overapplied)

Explanation:

Variable Overhead Rate Variance:

= Actual Hours × (Actual Rate - Standard Rate)

= 1,900 × ($1.20 - $1.25)

= 95 (F)

Variable Overhead Efficiency Variance:

= Standard Rate × (Actual Hours - Standard Hours)

= $1.25 × (1,900 - 1 × 2,000)

= 125 (F)

Over- or Underapplied Variable Overhead:

= Actual Overhead Incurred - Overhead Applied

= (1,900 × $1.20) - (2,000 × $1.25)

= 220 (Overapplied)

7 0
3 years ago
In 1-2 sentences, explain how wage discrimination results in unequal pay.
oksian1 [2.3K]
Wage discrimination 
when somebody is paid less than somebody else based upon a physical characteristic
5 0
3 years ago
Price and Output data over a five year period for an economy that produces only one good. Assume that year 2 is the base year. Y
olasank [31]

Answer:

$90

Explanation:

Nominal GDP is GDP calculated using current year prices.

Nominal GDP = current year prices x unit of output

18 x $5 = $90

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

7 0
3 years ago
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