Answer:
selling price of this car is $22700
Explanation:
given data
zero interest = 72 months
monthly payment = $350
market interest rate = 3.5% per year = 0.2917 % per month
time = 6 year = 72 months
solution
we get here present value of annuity that is
present value annuity = ( 0.2917 % per month , 72 months )
present value annuity = 64.8568
so here selling price of car is
selling price = monthly payment × present value annuity ............1
selling price = $350 × 64.8568
selling price = $22700
so selling price of this car is $22700
Answer:
$5000
Explanation:
Since Elm City issued a purchase order for supplies with an estimated cost of $5,000, although when the supplies were received, the accompanying invoice indicated an actual price of $4,950, the amount that Elm should credit to encumbrances outstanding in its general fund after the supplies and invoice were received; is $5000
Notice that encumbrances are set aside funds for a purpose, therefore upon ordering, encumbrances balance would increase, and Elm would have passed the following entry
Dr. Encumbrances...$5000
Cr. Fund Balance.....................$5000
Therefore even if the supply came with a shortfall in amount, in order for Elm City to show that the purpose for making that encumbrance has been met, it has to be liquidated by crediting the Encumbrance account by the full amount of $5000
Answer:
d. Enterprise resource planning.
Explanation:
Enterprise resource planning is a well integrated system of planning which is based on real time data of different section of the organisation . It tracks cash , raw material , orders , pay rolls , bank transaction on real time basis , with the help of computers etc.
Answer:
Solution as seen below
Explanation:
Bond = 1,700 × $1,000 × 98%
= $1,666,000
Allocation :
Issue price $1,751,000
(1,700 × $1,000 × 103%)
Bonds ( $1,666,000 )
Warrants $85,000
($1,751,000 - $1,666,000)
Bond face value $1,700,000
(1,700 × $1,000)
Allocated FMV ($1,666,000)
Discounts $34,000
($1,700,000 - $1,666,000)
