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fomenos
2 years ago
7

On the first day of the fiscal year, Shiller Company borrowed $63,000 by giving a five-year, 12% installment note to Soros Bank.

The note requires annual payments of $17,773, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $7,560 and principal repayment of $10,213. Journalize the entries to record the following: a1. Issued the installment note for cash on the first day of the fiscal year.
Business
1 answer:
lidiya [134]2 years ago
8 0

Answer:

Bank A/c  Dr           $63,000

  To Notes Payable                         $63,000

(Being the issuance of the installment note for cash is recorded)

Explanation:

The journal entry is shown below:

Bank A/c  Dr           $63,000

  To Notes Payable                         $63,000

(Being the issuance of the installment note for cash is recorded)

For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited

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Consider two spices, cumin and paprika, to be substitutes, a decrease in the supply of paprika, should cause an increase in the
makvit [3.9K]

Answer:

an increase in the price of both

Explanation:

A decrease in the supply of paprika would cause an increase in the price of both substitute goods. When the supply of paprika falls, the demand will be greater than what is available for sale and this would cause the sellers to raise it's price afterall it is now scarce.

Also as a substitute good, more people would begin to switch to buying cummin which would raise the demand for cummin. This increase in demand for cummin would then cause the price of cummin to go up.

3 0
3 years ago
Today is your 20th birthday, and your parents just gave you $5,000 that you plan to use to open a stock brokerage account. You p
Alex Ar [27]

Answer:

You anticipate that you will have $432,522 in the account on your 65th birthday, following your final contribution.

Explanation:

To calculate this, we use the formula for calculating the future value (FV) and FV of ordinary annuity as appropriate as given below:

FVd = D * (1 + r)^n ......................................................................... (1)

FVo = P * {[(1 + r)^n - 1] ÷ r} ...................... (2)

Where,

FVd = Future value of initial deposit or balance amount as the case may be = ?

FVo = FV of ordinary annuity starting from a particular year = ?

D = Initial deposit = $5,000

P = Annual deposit =s $500

r = Average annual return = 12%, or 0.12

n = number years = to be determined as necessary

a) FV in five years from now

n = 5 for FVd

n = 4 for FVo

Substituting the values into equations (1) and (2), we have:

FVd = $5,000 * (1 + 0.12)^5 = $8,812

FVo = $500 * {[(1 + 0.12)^4 - 1] ÷ 0.12} = $2,390

FV5 = Total FV five years from now = $8,812 + $2,390 = $11,201

FVB5 = Balance after $5,000 withdrawal  in year 5 = $11,201 - $5,000 = $6,201.

b) FV in 10 years from now

n = 10 - 5 = 5 for both FVd and FVo

Using equations (1) and (2), we have:

FV of FVB5 = $6,201 * (1 + 0.12)^5 = $10,928

FVo = $500 * {[(1 + 0.12)^5 - 1] ÷ 0.12} = $3,176

FV10 = Total FV 10 years from now = $10,928 + $3,176 = $14,104

FVB10 = Balance after $10,000 withdrawal  in year 10 = $14,104 - $10,000 = $4,104

c) FV in 45 years from now

n = 45 - 10 = 35 for both FVd and FVo

Using equations (1) and (2), we have:

FV of FVB10 = $4,104 * (1 + 0.12)^35 = $216,690

FVo = $500 * {[(1 + 0.12)^35 - 1] ÷ 0.12} = $215,832

FV45 = Total FV 45 years from now = $216,690 + $215,832 = $432,522

Conclusion

Therefore, you anticipate that you will have $432,522 in the account on your 65th birthday, following your final contribution.

5 0
3 years ago
Favorita candy's stock is expected to earn $2.40 per share this year. its p/e ratio is 18. what is the stock price?
MatroZZZ [7]
The formula to calculate p/e ratio is: price/earnings.

So, the price of the stock would be

p/e ratio = price/earnings

18 = price / 2.4

Price= 2.4 x 18

Price = 43.2 


3 0
3 years ago
samir owns a dental practice, but business has slowed down significantly over the last six months. which analysis would you reco
ExtremeBDS [4]

I will recommend SWOT Analysis for his Dental business

SWOT Analysis is a strategic planning technique used for identifying and analyzing internal strengths and weaknesses in an organization and the analysis includes Strength, Weakness, Opportunities and Threat.

  • This Strategic technique helps to identify a potential competitive advantage.

  • The SWOT Analysis are used to evaluate the company's competitive position because its assess both the internal and external factors.

In conclusion, i will recommend to Samir to use the SWOT Analysis to determine his dental business competitive potential.

Learn more about SWOT Analysis here

<em>brainly.com/question/18068310</em>

6 0
2 years ago
C Qu. 21 Sea Island Company is trying to decide which... Sea Island Company is trying to decide which one of two alternatives it
Nataliya [291]

Answer:

The differential revenue for this decision is $95000

Explanation:

Differential Revenue: In differential revenue it shows a difference between two projects revenues. Irrespective of whatever information is given in the question.

It is computed to check that how much increment or decrements is done as compare to previous year, or between projects.

So,

Differential revenue = Alternative B Projected Revenue - Alternative A Projected Revenue

= $310,000 - $215,000

= $95,000

Hence, the differential revenue for this decision is $95000

3 0
3 years ago
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