Answer:
Yes, Tangshan Mining company should accept the project.
Explanation:
Payback period is the number of years it takes for a project's expected cash inflows to recover the initial investment amount.
Tangshan company's required payback period = 3.5 years
<u>Year CF Net CF</u>
0 -5,000,000 -5,000,000
1 1,800,000 -3,200,000
2 1,900,000 -1,300,000
3 700,000 -600,000
4 1,800,000 1,200,000
<em>Payback period = last year with -net CF +(absolute net CF that year /total CF the following year)</em>
Payback period = 3 + (600,000 / 1,800,000)
=3 + 0.33
= 3.33 years
Since 3.33 years is lower than the required payback period of 3.5 years, Tangshan Mining company should ACCEPT the new project; it will take less years to fully recover the initial amount investment.
Answer:
a. Journal entries to record the reinstatement of the account receivable
Account Title and Description Debit Credit
Account receivable account $600
Allowance for Doubtful Accounts account $600
(Reinstatement of the account receivable)
b. Journal entries to record the receipt of cash
Account Title and Description Debit Credit
Bank Account $600
Account receivable account $600
(Receipt of cash)
Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, morals, beliefs, and habits.
I may be wrong but I believe it’s false
Using the <em>Single's Person Weekly payroll</em> distribution , the number of allowances claimed by Frica Morrison will be 3.
<u>Given that</u> :
- Weekly pay = $513.66
- Federal income tax withheld = 33
<em>From the payroll table</em>, Frica's weekly pay falls inbetween $510 - $520 ; checking along the row, we can see from the <em>table(attached)</em> that Federal income tax withheld of $33 falls under the 3 allowances claimed.
This means that for Frica to have $33 withheld from his <em>weekly pay of $513.66</em>, then he must have claimed 3 allowances.
Therefore, the Number of allowances claimed by Frica Morrison is 3.
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