Answer: c. $94,240
Explanation:
On December 31, 2005, one payment has already been made which would mean that only 7 payments are left. As the first of these remaining 7 will be paid the year after, this is an ordinary annuity.
Note payable value = Present value of seven $20,000 payments
= 20,000 * Present value of ordinary annuity of 1 at 11% for 7 years.
= 20,000 * 4.712
= $94,240
Answer:
marginal cost is 15 cents
Explanation:
given data
car rent = $29.95
distance d1 = 150 miles
cost = 15 cents per miles
distance d2 = 200 miles
to find out
marginal cost
solution
first we find here cost for driving d2
cost for 150 to 200 miles = 15 × 50
cost for 150 to 200 miles = 750 cents = $7.5
so
cost for driving d2 = $7.5 + $29.95
cost for driving d2 = $37.45
so
marginal cost will be
marginal cost = change in cost / chance in distance
marginal cost = 37.45 - 39.95 / ( 200-150)
marginal cost = 7.5 / 50 = 0.15
marginal cost is 15 cents
Answer:
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800
Credit Rent Revenue $10,800
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)
Credit Rent Revenue $10,800
Losing they're investment dollars. calculating the cost of production.
