Answer:
6.06%
Explanation:
The computation of the rate of return is shown below:
Given that
NPER = 20 years
PV = ($280,000 - $80,000) = $200,000
PMT = $0
FV = $75,000 × PVIFA factor at 10% for 21 years
= $75,000 × 8.6487
= $648,652.50
The following formula should be applied
= RATE(NPER;PMT;-PV;FV;TYPE)
The present value comes in negative
After applying the above formula, the rate of return is 6.06%
Answer:
True
Explanation:
Contracts should be in writing because this guarantees that all the terms of the agreement are documented and the responsabilities of each party are stated. Also, contracts that involve the sale of goods with a value higher than $500 have to be in writing to be enforceable. So, according to this and considering that the total cost of the lighting is $5,000, it is true that the contract needs to be in writing.
Answer:
C) $40.000 Decrease
Explanation:
The accounting equation states that: Assets = Liabilities + Equity, so in this case the Assets must decrease in the same amount that change the other side of the equation, $40.000.
Answer:
It's Frence.
city of Verdun-sur-Meuse in northeast France
Answer:
Option (b) is correct.
Explanation:
Sale value of the merchandise = $74,900
Sales tax liability = $74,900 × (7% ÷ 107%)
= $4,900
Sale value prior to sales tax = $74,900 - $4,900
= $70,000
Sales tax @7% on $70,000 = $4,900
Hope the above calculation will clear the concept since the question clearly mention that
Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900.
This $74,900 includes 7% tax also it means that the collected proceed is 100% + 7% = 107%
which includes 7% tax liability.
