Based on this research, which activity is this

What is the loan balance (in dollars) after the third payment, of a 5 year loan of $100,000 with an APR of 10% and annual paymen

sweet [91]

110,000 total I thing I am not to sure

7 0

3 years ago

At December 31 of the current year, Sunland Corporation had a number of items that were not reflected in its accounting records.

yan [13]

Answer:

Dr Maintenance and repair expense $900

Cr Accrued expense $900

Being entries to record maintenance and repair costs incurred

Utilities costing $370 were used but not paid

Dr Utilities expense $900

Cr Accrued expense $900

Being entries to record utilities used but unpaid for

use of a warehouse space worth $2,070 was provided to a tenant who had not been billed as of the end of the month

Dr Unbilled receivables $2,070

Cr Rental Income $2,070

Being entries to recognize income from warehouse space unbilled

Explanation:

When an expense is incurred but unpaid for, an accrual is recognized to capture the cost. For income earned but unbilled, unbilled receivable is recognized. This is based on the accrual concept.

Considering the transactions given

Maintenance and repair costs of $900 were incurred but not paid

Dr Maintenance and repair expense $900

Cr Accrued expense $900

Being entries to record maintenance and repair costs incurred

Utilities costing $370 were used but not paid

Dr Utilities expense $900

Cr Accrued expense $900

Being entries to record utilities used but unpaid for

use of a warehouse space worth $2,070 was provided to a tenant who had not been billed as of the end of the month

Dr Unbilled receivables $2,070

Cr Rental Income $2,070

Being entries to recognize income from warehouse space unbilled

7 0

3 years ago

On January 1, Year 1, the Accounts Receivable balance was $20,100 and the balance in the Allowance for Doubtful Accounts was $1,

wel

Answer:

$18,400

Explanation:

A/R $20,100

Less: Allowance for doubtful accounts ($1,700)

net realizable value of A/R $18,400

The write off amount is already included in allowance for doubtful accounts on provision basis therefore it can't be separately deducted again.

4 0

3 years ago

One important way in which banks make economic growth possible is by

solong [7]

Answer:

Here is the full question:

<em>One important way in which banks make economic growth possible is by :</em>

<em>A) selling savings bonds. </em>

<em> B) cashing payroll checks. </em>

<em> C) lending money to business startups. </em>

<em> D) offering checking and savings accounts</em>

Answer is C).

Explanation:

Bank loans are the most important bank product as loans represent the most profitable segment for the bank. Of course, banks do earn fees and commissions on various transactions and they do offer general personal account maintenance.

However, loans are the primary source of income for all banks, as loans are the bank products that give the bank a monthly interest rate, which is very lucrative in the long run.

8 0

3 years ago

Suppose a firm has two types of customers but cannot tell which type of buyer the customer is before a purchase is made. If the

scoundrel [369]

Complete Question:

Suppose a firm has two types of customers but cannot tell which type of buyer a customer is before a purchase is made. One group of customers has an inverse demand of P = 100 – 10Q, while another group of customers has an inverse demand curve of P = 110 – 22.5Q. If the firm wanted to use a quantity discount pricing scheme, what prices should it set? Assume that the marginal cost of production is constant at $20.

A) The firm could charge $65 per unit for any quantity purchased or $60 per unit if buying 4 or more units.

B) The firm could charge $50 per unit for any quantity purchased or $40 per unit if buying 8 or more units.

C) The firm could charge $25 per unit for any quantity purchased or $20 per unit if buying 2 or more units.

D) The firm could charge $85 per unit for any quantity purchased or $75 per unit if buying 6 or more units.

Answer:

Option A. The firm could charge $65 per unit for any quantity purchased or $60 per unit if buying 4 or more units.

Explanation:

<u>Group One Customers:</u>

We will find the price and quantity by using the following relationship:

Marginal Revenue = Marginal Cost

But the first step would be to calculate marginal revenue.

<u>Step1: Calculate Marginal Revenue</u>

The price and quantity relation of group one customers is given as under:

P = 100 - 10Q

Now we will use total revenue equation which is given as under:

Revenue = Price * Quantity

Here

Price = 100 - 10Q

By putting this in the above equation, we have:

Revenue = (100 - 10Q) * Q

Revenue = 100Q - 10Q^2

Taking derivative on both sides we have:

Marginal Revenue = 100 - 2*10*Q = 100 - 20Q

Now as we know that:

Marginal Revenue = Marginal Cost

Here

Marginal Revenue = 100 - 20Q

Marginal Cost = $20

By putting values, we have:

$100 - 20Q = $20

$100 - $20 = 20Q

Q = $80 / $20 = <u>4 Units</u>

Now putting this value in the price equation we have:

Price = $100 - 10*4 = <u>$60</u>

<u>Group Two Customers:</u>

We will find the price and quantity by using the following relationship:

Marginal Revenue = Marginal Cost

But the first step would be to calculate marginal revenue.

<u>Step1: Calculate Marginal Revenue</u>

The price and quantity relation of group one customers is given as under:

P = 110 – 22.5Q

Now we will use total revenue equation which is given as under:

Revenue = Price * Quantity

Here

Price = 110 - 22.5Q

By putting this in the above equation, we have:

Revenue = (110 - 22.5Q) * Q

Revenue = 110Q - 22.5Q^2

Taking derivative on both sides we have:

Marginal Revenue = 110 - 2*22.5*Q

Marginal Revenue = 110 - 45Q

Now as we know that:

Marginal Revenue = Marginal Cost

Here

Marginal Revenue = 110 - 45Q

Marginal Cost = $20

By putting values, we have:

$110 - 45Q = $20

$110 - $20 = 45Q

Q = $90 / $45 = <u>2 Units</u>

Now putting this value in the price equation we have:

Price = $110 - 22.5*2 = <u>$65</u>

<u></u>

<h2><u>The data extracted from the above two scenario is as under:</u></h2><h2><u>For Group 1, Price is $60 and Quantity is 4 Units</u></h2><h2><u>For Group 2, Price is $65 and Quantity is 2 Units</u></h2><h2><u>Hence the option A is correct.</u></h2>

7 0

3 years ago