Answer:
$26,036.74
Explanation:
Tom is able to pay $390 per month for 7 years. The interest rate is 6.8 %. Tom will pay an equivalent of the present value of a $390 annuity for & years 6.8 per cent
The applicable formula is
PV = P × 1 − (1+r)−n
r
Where PV is the present value
P is 390
r is 6.8% per year or 0.005666
n is 7 year or 84 months
PV = $390 x 1-(1+0.005666)84
0.00566
PV = $390 x 1- 0. 622133410)
0.00566
PV =390 x (0.37786659/0.00566)
PV = $390 x 66.760
PV = $26,036.74
Answer:
3. net income is understated by $175
Explanation:
There were two transactions omitted. The first transaction is unearned rent revenue of which $450 was earned. This earned rent revenue increases income by $450. While the second transaction was accrued interest payable of which $275 is owed. This interest payable increases liabilities by $275.
Therefore, from the above, income or revenue is understated by $450, while expenses is understated by $275.
Therefore, net income is understated by income less expenses, thus 450 - 275 = $175. This also implies that liabilities are overstated by $175.
<u>Answer:</u>
The correct answer for this is 'non price competition'.
<u>Explanation:</u>
When a real estate agent says the three most important factors when buying a property are “location, location, location,” the agent is referring to one of the forms of non price competition.
Non-price competition is a type of competition where two or more than two producers use factors like customer service, packaging or delivery rather than the price to increase the demand of the product or service.
Here, location is used as a non-price competition to increase the demand.
Answer:
Land not currently used in operations - Long-term investments
Notes payable (due in five years) - Long-term liabilities
Accounts receivable - Current assets
Trademarks - Intangible assets
Accounts payable - Current liabilities
Store equipment - Plant assets
Wages payable - Current Liabilities
Cash - Current assets