1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Step2247 [10]
3 years ago
11

On March​ 1, 2018, Vintage Services issued an​ 8% long-term notes payable for​ $22,000. It is payable over a​ 16-year term in​ $

1,375 principal installments on March 1 of each​ year, beginning March​ 1, 2019. Each yearly installment will include both principal repayment of​ $1,375 and interest payment for the preceding​ one-year period. The journal entry to pay the first installment will include a debit to Interest Expense for​ $1,760. True or False?
Business
1 answer:
AveGali [126]3 years ago
7 0

Answer:

True. The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

Download xlsx
You might be interested in
Splish Brothers Inc. began operations on April 1 by issuing 52,300 shares of $5 par value common stock for cash at $15 per share
Ahat [919]

Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

                  (52,300*5)

                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

            (To record common stock issued)

Apr 19   Organisation expenses                         $28,900

                  Common stock                                                     $9,000

                  (1800*5)

                  Paid in common stock in excess of par              $19,900

            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

                  Preferred stock (1,100*$1)                                     $1,100

                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

7 0
3 years ago
​Billy's Hamburger Barn has a single​ drive-up window.​ Currently, there is one attendant at the window who takes the order ​(20
Umnica [9.8K]

Answer:

The map of the current process is found in the attached

The minimum cycle time is 1 min 40 seconds

The longest cycle time is 2 min 35 seconds

The new minimum cycle is 1 min 15 seconds

The new longest cycle time is  2 mins

The potential problem that could surface from splitting the process is that once the customer has finished paying the customer has to wait for about 30 to 55 seconds before the second attendant finishes with packaging,hence ,a queue would likely be formed awaiting the second attendant.

The problem could be solved by ensuring the taking money and packaging takes the same time.

Explanation:

Minimum cycle time=20+55+25=100 seconds=1 minute 40 seconds

The longest cycle time=30+90+35=155 seconds=2 min 35 seconds

The new minimum cycle time=20+55=75 seconds=1 min 15 seconds

Taking customer's money also happened in the first 35 seconds of the 55 seconds above.

The new longest cycle time=30+90=120 seconds=2 mins

Download xlsx
6 0
3 years ago
JPR Company's preferred stock is currently selling for $28.00, and pays a perpetual annual dividend of $2.00 per share. Underwri
scoundrel [369]

Answer:

8%

Explanation:

Data provided in the question

Current selling price of the preferred stock = $28

Annual dividend = $2 per share

Flotation cost = $3 per share

Firm tax rate = 40%

So by considering the above information, the cost of new preferred stock is

= Annual dividend per share ÷ (Current selling price of the preferred stock - Flotation cost)

= $2 ÷ ($28 - $3)

= $2 ÷ $25

= 8%

We simply applied the above formula so that the cost of preferred stock could arrive

7 0
3 years ago
The drought of 2011 devastated hay crops in the plains states and horse owners ranged far and wide to purchase hay for their hor
igor_vitrenko [27]

Answer:

The options are given below:

A. $10.

B. $4.

C. $6.

D. $11.

The correct options is D.

Explanation:

Landed cost refers to the total price of a product or shipment once it has arrived at a buyer's doorstep. It includes the original price of the product, the transportation fees (both inland and ocean), customs, duties, taxes, tariffs, insurance, currency conversion, crating, handling and payment fees.

Therefore, in calculating the landed cost of the question above, we sum all the costs incurred thus:

Purchase price = $4

Transportation cost = $6

Packing and loading cost = $1

Landing cost = $4 + $6 + $1 = $11.

5 0
3 years ago
In which of the following scenarios will you be entitled to pay the least amount of money out-of-pocket for a medical expense? A
Oliga [24]
<span> B.You have health insurance with a $500 deductible.
hope this helps.</span>
7 0
4 years ago
Other questions:
  • What is the advantage to spending less money than is earned?
    5·2 answers
  • The Constitution sets forth specific powers that can be exercised by the national government and provides that the national gove
    7·1 answer
  • Hockey Accessories Corporation manufactured 21 comma 100 duffle bags during March. The following fixed overhead data pertain to​
    5·1 answer
  • Which of the following statements is​ TRUE?
    10·1 answer
  • A new accountant at Windsor, Inc. is trying to identify which of the following amounts should be reported as the current asset "
    15·1 answer
  • Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of materi
    12·2 answers
  • Josh is an HR Manager at RoxCom LLC. He is responsible for conducting performance appraisals for all entry-level employees in hi
    15·1 answer
  • What may a vertically integrated company need to do when there are improvements in technology at the supply stage of the value c
    11·1 answer
  • Suppose the government introduces tax incentives to increase private household saving. What would be the effect on net capital o
    9·1 answer
  • Why does everybody hurt me
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!