8. True False.

Sunland Company borrowed $1,028,960 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition,

Lynna [10]

Answer:

10.66%

Explanation:

The computation of the weighted-average interest rate is shown below:

Particulars Principal Interest

10%, 5-year note payable $2,013,900 $201,390

11%, 4-year note payable $3,826,400 $420,904

Total amount $5,840,300 $622,294

So, the weighted-average interest rate would be

= $622,294 ÷ $5,840,300

= 10.66%

4 0

4 years ago

Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $ 63,000 Sales tax 5,400 Shipment

Cloud [144]

Answer:

Explanation:

Before recording the journal entry, first we have to determine the total cost which is shown below:

= Purchase price + sales tax + Shipment of machine + Installation of machine

= $63,000 + $5,400 + $880 + $1,760

= $7,1040

Now the journal entry would be

Equipment A/c Dr $7,1040

Prepaid insurance A/c Dr $580

To Cash A/c $3,220 ($880 + $1,760 + $580)

To Accounts payable $68,400 ($63,000 + $5,400)

(Being the expenditure and equipment value is recorded)

8 0

3 years ago

A subtle form of racial discrimination in housing is "racial steering." racial steering occurs when real estate agents show pro

Olenka [21]

B. H0 : There is no association between race and the section of the apartment complex.
H A: There is an association between race and the section of the apartment complex.

Find the χ2 statistic
Solution
The formula for calculating χ2 statistic is given by ;
χ2∗ =∑(Oi−Ei)2/Ei, where Oi and Ei is the i^th observation and the i^th expected count
From the given data calculated the expected count using the formula; E = (row total *column total)/sample size

χ2 = 7.104439336,
χ2 = 7.104 (rounded to 3 decimal .places)

The P-value is;
Degrees of freedom = (2-1)*(2-1) = 1, χ2 = 7.1044
P-value from chi-square calculator is 0.007689

3 0

3 years ago

If the price level rose in three consecutive years from 100 to 120 to 140, then the annual inflation rate over those years would

Oksi-84 [34.3K]

We see a continuous fall in percentage the annual inflation rate over those years would decrease.

<h3>Annual inflation rate over years </h3>

Question Parameters:

if the price level rose in three consecutive years from 100 to 120 to 140,

Generally the equation for the is mathematically given as

So, annual inflation rate is

x=[(120-100)/100]*100

x= 20%

In the year 3, price level was 140, hence, the inflation rate

y= [(140-120)/120]*100

y= 16.67%.

Since, we see a continuous fall in percentage the annual inflation rate over those years would decrease.

For more information on Arithmetic

brainly.com/question/22568180

7 0

2 years ago

Miles uses the allowance method and wrote off the account of james. miles then received $559 as partial payment on the account o

Amanda [17]

<span>The journal entry to record the initial write-off includes is allowance for doubtful accounts. Allowance for doubtful accounts is a contra account to accounts receivable, and therefore has debit balance. It also needs to be diminished because you already used the bad debt when you make the allowance.</span>

6 0

4 years ago