Answer:
$25711.08
Explanation:
The amount of sales revenue to be recorded at the commencement of the lease is the present value of all cash flows receivable from the lease
The pv formula in excel can be to determine the present of the ending of the payments(totaling 3)
=pv(rate,nper,pmt,fv)
rate is 7% the rate implicit in the lease.
nper is 3 years
pmt is the yearly payment of $7000
fv is the future value of the lease,it is unknown
=pv(6%,3,7000,0)=$18711.08
Then we to add the $7000 received on day one
=$
18711.08+$7000=$25711.08
Answer:
Option C is correct.
Explanation:
The statement of cash flow presents us the information about the cash, where the cash was invested including how much cash we have earned by investing in projects, how much cash the operations has created and how much cash has been created from the financing activities. This statement tells us about the origin of the cash and where the company is spending it.
Answer:
$4,277.5
Explanation:
Given:
Selling cost of the house = $245,000
Percentage of commission = 3%
Amount of commission = 0.03 × $245,000 = $7,350
Now,
The salesperson is on a 65% commission schedule with her broker
This means that the salesperson will get only 65% of the amount of commission
thus,
Commission to paid = 0.65 × $7,350 = $4,777.5
The final amount received = Commission - office expenses
or
The final amount received = $4,777.5 - $500 = $4,277.5
An emergency fund is an account that is used to set aside funds that will be needed in the event of a personal financial dilemma. The size of one emergency fund depends on one's income, dependants and lifestyle. It is recommended that one put aside at least three months worth of expenses.In the question given above, the monthly expenses is $2000.00, so the person has to put away at least $2000 * 3 months, which is equal to $6000.00.