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lianna [129]
3 years ago
14

The Sanchez Company purchased a delivery truck on February 1, 2018. The purchase agreement required Sanchez to pay the total amo

unt due of $15,000 on February 1, 2019. Assuming an 8% rate of interest, the calculation of the price of the truck would involve multiplying $15,000 by the:
Business
2 answers:
pashok25 [27]3 years ago
7 0

Answer:

0.925926

Explanation:

present value = future value / (1 + r)ⁿ

  • future value = 1
  • r = 8%
  • n = 1

present value = 1 / (1 + 8%) = 1 / 1.08 = 0.925926

0.925926 = the present value of $1 using an 8% discount rate for the period of 1 year. To determine the actual price of the truck you can just multiply $15,000 by 0.925926 = $13,888.89 ≈ $13,889

The basic premise of finance is that the value of money decreases in time and $1 today is worth more than $1 tomorrow.

diamong [38]3 years ago
4 0

Answer:

Present value of $1

Explanation:

In this question, we are asked to give the value by which the amount due on a truck is to be multiplied given the interest rate.

From the question, we can identify that $15,000 is the future value of the truck.Now, we are tasked with calculating the present value of the truck.

In order to obtain the present value, the $15,000, which is the present value will have to be multiplied by the present value of $1 for an interest rate i of 8% and a time of year n = 1( considering the time between February 1 2018 and February 1, 2019)

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Joint stock companies were organizations meant to establish colonies in the americas by people from
Alex17521 [72]

Answer:

Britain

Explanation:

Once they landed in America, the British set up a joint stock company, which was the start of what we now recognize as a corporation These stocks were marketed to investors with the thought of getting some cash, which created minimal-risk capital.Citizens embraced the idea as there was minimal risk and significant benefit. It really is accurate, therefore, that joint stock companies were organisations planned by the British to create colonies in America.

7 0
3 years ago
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Neko [114]

Answer:

Partnership Business

Explanation:

Partnership business is a business enterprise owned, managed and financed by a minimum of two individuals for the purpose of making profit.

Grub Galore is owned by Bob and Rob which makes it a partnership business.

Advantages

1) Profit is shared by partners only.

2) It is financed by more than one person which makes capital more available.

3) Decision making is faster company to limited liability companies

Disadvantages

1) Loss is shared among partners only.

2) Death of one partner might lead to the end of the business.

3) Disagreement between partners might end the business.

5 0
3 years ago
A $340,000 property sells at a 7ommission with a 50-50 co-brokerage split and a 50 gent split with her broker. what is agent's c
dusya [7]

The agent's commission is $5,950

A commission agent acts as a go-between for enterprises of all sizes when dealing with suppliers. A person in this position may operate in a variety of fields, including real estate, sales, and entertainment, as well as throughout the world. Additionally, a commission agent may simultaneously serve multiple companies.

An international agent who receives payment as a percentage of the sales they bring in. The Agent strictly complies with the sale terms specified to it by the Principal while making products available to potential customers in a certain territory (often a country). The Agent's and Principal's relationship is solely business-related; there is no employment connection between them.

To learn more about agent's commission here

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6 0
1 year ago
Under _________dividend reinvestment plan, the company gives any cash dividends that investors would have received in a bank, wh
ankoles [38]

Answer:

Old Stock

Explanation:

The Dividend Reinvestment Plan is a platform where investors or shareholders in a company, reinvest the dividends they gained into more shares sold by the same company, most times without having to pay commissions.

Under the <em>Old stock dividend reinvestment plan, </em>an outside trustee, that is, a member of the board who is not an officer in the company, repurchases the company's existing shares in the stock market and then allocates the shares purchased among the stockholders. They sell the shares at market price. Most times, in order to encourage shareholders participation the company making the repurchase takes care of the commission fees.

8 0
3 years ago
Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
kenny6666 [7]

Answer:

Given that,

Petty cash fund on September 1 = $250

Office Supplies = $73

Merchandise inventory = $137

Miscellaneous expenses = $22

Fund has a balance = $18

When Petty Cash fund is reimbursed,

the expenses incurred through Petty Cash are recorded by debiting those expense.

Therefore, all the expenses incurred to be debited from the accounts.

Hence, the journal entry to record the reimbursement of the fund on September 30 includes a debit of Office Supplies for $73.

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3 years ago
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