Answer:
1. T-account balances.
<em>Common stock</em>
$50,000
<em>Land </em>
$20,000
<em>Cash </em>
$34,500
<em>Note Payable</em>
$15,000
<em>Supplies </em>
$900
<em>Trade Payable</em>
$400
<em>Equipment </em>
$10,000
2. A classified balance sheet for Lantana Company
Non - Current Assets
Land $20,000
Equipment $10,000
Total Non - Current Assets $30,000
Current Assets
Supplies $900
Cash $34,500
Total Current Assets $35,400
Total Assets $65,400
Equity and Liabilities
Equity
Common stock $50,000
Total Equity $50,000
Current Liabilities
Trade Payable $400
Total Current Liabilities $400
Non - Current Liabilities
Note Payable $15,000
Total Non - Current Liabilities $15,000
Total Equity and Liabilities $65,400
Explanation:
T-account balances.
Common stock
$50,000
Land
$20,000
Cash
$50,000 - $5,000 - $10,000 - $500 = $34,500
Note Payable
$15,000
Supplies
$900
Trade Payable
$900 - $500 = $400
Equipment
$10,000
Answer:
42.45 years
Explanation:
Discounting is the means by which the today's value of an amount in the future is computed. Compounding is the process by which the future value of a present amount is determined. In other words, the present value of $1 tomorrow is determined by discounting while the future value of $1 tomorrow is determined by compounding.
Where
Fv = Pv(1 + r)^n
Fv is the future value
Pv is the present value
r is rate
n is time
215000 = 36000(1 + 0.043)^n
215/36 = 1.043^n
Taking the log of both sides
log (215/36) = log 1.043^n
n = log (215/36) / log 1.043
n = 42.45 years
It will take 42.45 years to have enough to buy the car
Answer:
there are no options and says which one of the following
Explanation:
I don't University
Answer:
$10,710
Explanation:
Given:
Total amount paid for assets = $21,000
Market value of assets
Land = $ 6,500
Equipment = $2,600
Building = $3,500
Total Market value of Assets = $6,500 + $2,600 + $3,500 = $12,600
Computation :
Amount Debited to Land account = (Market value of particular assets / Total Market value of Assets) x Total amount paid for assets
= ($6,500/$12,600) x $21,000
= 0.51 x $21,000
= $10,710
The Answer is C. Plan for protecting assets . I just took the test
