1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Leona [35]
2 years ago
13

Libby Company purchased equipment by paying $6,700 cash on the purchase date and agreed to pay $6,700 every six months during th

e next four years. The first payment is due six months after the purchase date. Libby's incremental borrowing rate is 6%. The equipment reported on the balance sheet as of the purchase date is closest to _________?
Business
1 answer:
vladimir1956 [14]2 years ago
5 0

Answer:

The answer is $53,732.

Explanation:

The value of the equipment reported on Libby Company's balance sheet is equal to:

Cash payment at purchase + Present value of 8 equal semiannual payment, $6,700 each discounted at 3% ( because semiannual payment is made for 4 years so we have 2 x4 = 8 payments; and annual borrowing rate is 6% so we have discount rate = 6% /2 = 3%).

with:

Cash payment at purchase = $6,700;

Present value of 8 equal semiannual payment, $6,700 each discounted at 3% = (6,700/3%) x ( 1 - 1.03^(-8) ) = $47,032 ( that is, apply the formula to find present value of annuity).

we have:

The value of the equipment reported on Libby Company's balance sheet = 6,700 + 47,032 = $53,732.

You might be interested in
Electronic filing (e-filing): a. Reduces the chances that the IRS will make mistakes when inputting tax return information. b. R
TiliK225 [7]

Answer:

a. Reduces the chances that the IRS will make mistakes when inputting tax return information.

Explanation:

Electronic filing simply has to do with the storage of business data on a computer system. It is way safer than filing on paper because these files can be stored and they have backup systems for them too. These systems gives a way of managing such files by organizing, updating, storing and retrieving the files whenever it is necessary.

Option a is the best answer for This question as it points out one of the many advantages of such a system.

3 0
3 years ago
a manufacturing company has been facing codification challenges caused by fluctuating levels of stock.stores departments must ma
Dima020 [189]

The key considerations that should be made when choosing the most suitable type of stock is to control the stock.

<h3>What should the company control stock?</h3>

When stock is controlled it ensures that there is materials or resources available enough for production.

It includes adequate monitoring of the stock level to ensure sustainability through details inventory and monitoring.

Therefore, the key considerations that should be made when choosing the most suitable type of stock is to control the stock.

Learn more on stock below

brainly.com/question/690070

#SPJ1

4 0
2 years ago
The managerial purpose of setting objectives include: Select one: a. Converting the strategic vision into specific performance t
Aleksandr [31]

Answer: d. All of these

Explanation:

Objectives are very important in ensuring that a company achieves that which it wants to achieve. With an objective in mind, the company is able to set deadlines that it can work towards to enable it achieve performance results. Without objectives, there would be no aim in sight to work towards which means that performance cannot truly be measured.

Objectives also help turn a company's strategic vision into actual performable targets which will enable the company achieve its long term goals by breaking the activities into doable segments.

Finally with an objective in mind, employees will be spurred towards it which will enable them to try to perform at full potential and deliver the best results so that they may reach the objectives set.

7 0
3 years ago
The owners equity in a business amounted to $56,000 at the beginning of the year and $100,000 at the end of the year. the owner
natta225 [31]
Net income = revenue - expenses.

The revenue was $100,000 + $19,000 = $119,000
Expenses was $56,000

$119,000 - $56,000 = $63,000 


The net income is $63,000.
4 0
3 years ago
1. The _____ measures your level of education and income.
musickatia [10]
1. The _____ measures your level of education and income. A. educational attainment
B. degree level
C. educational achievement
D. income-education levels

Answer: Option D. income - education levels

This is a graph (or function) that relates the education levels with income.

2. A resume does all of the following EXCEPT _____.
A. list your experience
B. list your education
C. help you apply for a job
D. find you a new job

Answer: option D. find you a job.

You have to find the job by writing a good resume and having a great interview.

3. When calculating total gross pay, you should _____.
A. use only your hourly wage
B. use your hourly wage and tips
C. use only your tips
D. use your hourly wage and tips minus any deductions
Answer: option B. use your hourly wage and tips.

Gross pay includes all the incomes without deductions.
7 0
3 years ago
Other questions:
  • A professional gambler moves from a state where gambling is illegal to a state where gam-bling is legal. Most of his income was,
    12·1 answer
  • The internal rate of return is that discount rate that equates the present value of the cash outflows (or costs) with the presen
    9·1 answer
  • Acme Global hired a director of safety to help the organization ensure proper compliance with the Occupational Safety and Health
    11·1 answer
  • Suppose that the equation for the SML is Y = 0.05 + 0.07X, where Y is the average expected rate of return, 0.05 is the vertical
    12·1 answer
  • Meredith, the General Manager at Gladfle Inc., is planning to use certain new strategies to control and reduce the health care b
    10·1 answer
  • A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than
    8·1 answer
  • This information relates to Blossom Co..
    14·1 answer
  • The endpoints (horizontal and vertical intercepts) of the budget line: Group of answer choices represent the quantity of each go
    12·1 answer
  • Which structure is used to supply customers (often other MNEs) in a coordinated and consistent way across various countries
    15·1 answer
  • Evaluating od interventions always involves measuring their impact on employee satisfaction, productivity, and the bottom line.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!