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Margaret [11]
3 years ago
9

On October 17, Nickle Company purchased a building and a plot of land for $589,200. The building was valued at $312,276 while th

e land carried a value of $276,924. Nickle paid $61,900 down in cash and signed a note payable for the balance. Write the journal entry.
Business
1 answer:
Travka [436]3 years ago
3 0

Answer:

Explanation:

The journal entry is shown below:

Building A/c Dr $312,276

Land A/c Dr       $276,924

        To Cash A/c             $61,900

        To Notes payable A/c $527,300

(Being the purchase of building and land for cash and note payable is recorded)

The computation of the notes payable is shown below:

= Total purchase value - cash paid

= $589,200 - $61,900

= $527,300

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Your family is expanding in number, and so you decide to sell your current home and upgrade to a larger home. You estimate that
castortr0y [4]

Answer:

The Estimated Monthly Mortgage Payment

=    $2,810.81

Explanation:

Data and Calculations:

House price = $475,000

Down payment = $100,000

Percentage of down payment = 21.05% ($100,000/$475,000 * 100)

Finance period = 15 years = 180 months (15 * 12)

Nominal annual interest compounded monthly = 4%

The estimated monthly mortgage payment using an online finance calculator:

Monthly Pay:   $2,810.81

House Price $475,000.00

Loan Amount $380,000.00

Down Payment $95,000.00

Total of 180 Mortgage Payments $505,946.54

Total Interest $125,946.54

Mortgage Payoff Date Jan. 2036

6 0
3 years ago
A study published in 2011 by the OECD noted that Group of answer choices the real household income of unskilled workers in the U
slavikrds [6]

Answer:

the gap between the poorest and richest segments of society in some OECD countries had widened.

Explanation:

A study published in 2011 by the Organisation for Economic Co-operation and Development (OECD) noted that the gap between the poorest and richest segments of society in some Organisation for Economic Co-operation and Development (OECD) countries had widened.

8 0
2 years ago
The management of California Corporation is considering the purchase of a new machine costing $400,000. The company's desired ra
Julli [10]

Answer:

c. 1.14

Explanation:

Year         Cash Flow    PV Factor 10%     PV of Cash flows

                        ($)                                                              ($)

Year 1             180,000         0.909                     163,620

Year 2             120,000         0.826                       99,120

Year 3             100,000         0.751                       75,100

Year 4               90,000         0.683                       61,470

Year 5               90,000         0.621                       55,890

                                                                Total              =    455,200

Initial cash outflow = $400,000

Cash inflow = $455,200

So, we can calculate the present value index by using following formula,

Present value index = Cash inflow ÷ Cash outflow

= $455,200 ÷ $400,000

= 1.14

4 0
2 years ago
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The answer is<u> "Identifying potentially troublesome areas so that corrective action can be taken".</u>


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Budgeting and financial forecasting are devices or tools that organizations use to build up an arrangement of where the executives needs to take the organization and whether it's going the correct way. Albeit budgetary determining and planning are frequently utilized together, there are particular contrasts between the two.

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$788 to me and my brother in law I come see him
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