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Alex777 [14]
3 years ago
8

Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures w

ere $6370000 on March 1, $5280000 on June 1, and $8650000 on December 31. Coronado Industries borrowed $3170000 on January 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 11%, 3-year, $6350000 note payable and an 12%, 4-year, $12350000 note payable. What are the weighted-average accumulated expenditures
Business
1 answer:
lubasha [3.4K]3 years ago
7 0

Answer:

Coronado Industries

The weighted-average accumulated expenditures are:

= $8,388,333.

Explanation:

a) Data and Calculations:

Amount borrowed on June 1 = $3,170,000

Interest rate = 13%

Outstanding 11% 3-year note payable = $6,350,000

Outstanding 12% 4-year note payable = $12,350,000

Date               Expenditure      Weight     Weighted-Average

                                                                       Expenditure

March 1          $6,370,000         10/12                $5,308,333

June 1            $5,280,000          7/12                  3,080,000

December 31 $8,650,000         0/12                    0

Weighted-average accumulated expenditure $8,388,333

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Answer:

Monthly deposit= $485.93

Explanation:

Giving the following information:

You want to retire exactly 35 years from today with $2,020,000 in your retirement account.

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First, we need to calculate the monthly interest rate.

Monthly interest rate= 0.1035/12= 0.008625

Now, using the following formula we can calculate the monthly deposit:

FV= {A*[(1+i)^n-1]}/i

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Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 35*12= 420

A= (2,020,000*0.008625) / [(1.008625^420)-1]

A= $485.93

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3 years ago
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Answer:

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Explanation:

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Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to?
WARRIOR [948]

Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to promote workforce diversity.

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A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transact
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Answer:

B. Debit cash $27,500 ; Credit common stock $27,500

Explanation:

The journal entry to record the transaction is;

Cash account Dr $27,500

(2,500 shares × $11)

To Common stock account Cr $27,500

Cash is an asset hence debited because it decreases as it was used to pay for bills while common stock is credited because it increases shareholder's equity.

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3 years ago
The Work in Process Inventory account of a manufacturing company has a $11,625 debit balance. The company applies overhead using
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Answer:

The multiple choices are given below:

217%.

148%.

68%.

147%.

46%.

The correct option is 217%

Explanation:

Overhead applied can be  determined using the  below formula total cost formula:

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total cost of work-in-process is $11,625

direct material cost is $3,700

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6 0
3 years ago
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