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katen-ka-za [31]
3 years ago
8

Payments on an installment note include the accrued interest expense plus a portion of the amount borrowed. Question 5 options:

True False
Business
1 answer:
Vitek1552 [10]3 years ago
5 0

Answer:

The statement is: True.

Explanation:

Installment payments are those paid on a regular basis as part of the terms of a loan. A debtor requires a loan to the creditor who after an evaluation determines if the debtor is approved or not. If approved, the debtor commits to make regular installments that partly cover the principal of the loan and the interest rate inherent of the amount borrowed.

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Archie Co. purchased a framing machine for $45,000 on January 1, 2021. The machine is expected to have a four-year life, with a
k0ka [10]

Answer: $10,000 and $25,000

Explanation:

DEPRECIATION FOR 2022.

Straight line method of depreciation means it depreciates by the same amount every year. You can calculate by

(Cost - Residual Value) / useful life.

=($45,000 - $5,000) / 4

= $10,000.

Each year the framing machine reduces by $10,000 meaning in 2022 the depreciation will be $10,000.

BOOK VALUE AT DECEMBER 31, 2022

We've established that every year the value drops by $10,000.

On December 31, 2021, it dropped by $10,000.

On December 31, 2022, it dropped by another $10,000.

Adding that together gives you 10,000 + 10,000 = $20,000.

$20,000 is the total depreciation at the end of 2022.

Subtract that figure from the cost,

=$45,000-$20,000

=$25,000.

BOOK VALUE ON DECEMBER 31, 2022 is $25,000.

8 0
3 years ago
Which of the following statements is true if total fixed costs decrease while the sales price per unit and variable cost per uni
Trava [24]

Answer:

D. The breakeven point decreases.

Explanation:

Breakeven point of a business is defined as the point where it's total cost and total revenues are equal, at this point there is no gain or loss. Hen revenue is above this point profit is made, and when revenue is below this point there is loss.

The formula for break-even is

Breakeven point= Total fixed cost/(Sales price per unit- Variable cost per unit)

Since sales price and variable cost is constant, let's say

(Sales price per unit- Variable cost per unit)= constant (k)

So when we cross-multiply in the formula

Breakeven* k= Total fixed cost

It shows that Breakeven point is directly proportional to Total fixed cost.

So a reduction in Total fixed cost will result in a reduction in Breakeven point.

3 0
3 years ago
Your career goals might help determine the postsecondary educational institute you attend.
s344n2d4d5 [400]
I believe that it does help determine that because if you want to be a teacher then 9 times out of 10 you go to a college to be a teacher and get your degree.
7 0
3 years ago
Read 2 more answers
Definition of a corporation, two examples. LOTS OF POINTS.
Andrei [34K]
The dictionary definition of a corporation is "<span>a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law." So basically a company that has been given the legal rights of a person. Examples of this would be Google, or Burger King because they are given these legal rights by the government.</span>
7 0
3 years ago
Read the scenario:
Mashcka [7]
Determine how much each month she can afford
6 0
3 years ago
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