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Andreas93 [3]
3 years ago
15

On January 1, 2018, Allgood Company purchased equipment and signed a six-year mortgagenote for $186,000 at 15%. The note will be

paid in equal annual installments of $49,148, beginningJanuary 1, 2019. Calculate the portion of interest expense paid on the third installment. (Roundyour answer to the nearest whole number.)A) $21,048 B) $164,752 C) $27,900 D) $49,148
Business
1 answer:
Ne4ueva [31]3 years ago
5 0

Answer:

The correct answer is A: interest= $21048

Explanation:

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. While each periodic payment is the same amount early in the schedule, the majority of each payment is interest; later in the schedule, the majority of each payment covers the loan's principal.

Each payment is the same ($49,148), but the proportions of interest and capital pay changes. The interest proportion decreases from pay to pay.

Loan= 186000

i= 15%

n= 6 years

First pay:

i=186000*0,15=27900

amortization= 49148-27900=21248

Second pay:

i=(186000-21248)*0,15=24712

amort=49148-24712=24436

Third pay:

i=(164752-24436)*0,15=21048

amort=49148-21048=28100

While payments progress, interest decreases and amortization increases.

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Answer:

The most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

Explanation:

When there isn't a statute, the buyer bears the risk of loss when property subject to a contract for sale is destroyed without fault of any party prior to the date specified for closing. Unless the contract specifies otherwise, the buyer must pay the contract price even if the property is damaged by fire.

The inn was burned down in this case after the landowner and the buyer signed a contract for the sale of the property, but before the closing date. The contract appears to be silent on the risk of loss, and no appropriate statute exists. As a result of the common law rule, the buyer bears the risk of loss. Therefore, the landowner has the right to particular execution of the contract, which implies that the entire stipulated contract price must be paid by the buyer.

Regardless of the property's drop in worth owing to the fire, the $1 million contract price must be paid by the buyer because he bears the risk of loss.

Therefore, the most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

6 0
2 years ago
Unions and productivity In some industries, the labor productivity of union workers exceeds the labor productivity of nonunion w
MA_775_DIABLO [31]

Answer:

C. Because union wages exceed nonunion wages, employees may be encouraged to work harder.

D. Unions may provide information to companies about how to improve operations and eliminate problems in the work environment.

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Workers' unions have been instrumental in ensuring that workers work in the environment that is safe and conducive. Not only that, the unions also ensure that the workers are remunerated fairly for their labor and services. Thus, the wages of the unioned workers are higher because unions bargain for the increase in the worker's wages.

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Yvonne works in the distribution center for publix supermarket, creating and placing price and identification labels on merchand
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At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, $120 of previ
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Answer:

=$140

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At the beginning of the year, the account had a credit(positive balance of $760)

Previously bad debt that has been reinstated, $120

The new balance will be $760 + $120 = $860

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=$140

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3 years ago
When mary does gymnastics for two hours and her grade on the economics test?
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