Answer:
1) The net income for the period ended December 31, 2018, is 68103.
2)The total liabilities and stockholders equity is 261615.
Explanation:
1) 1920 sales revenue is an unearned revenue since delivery will be made in 2019
Interest payable on note oct 1 :Interest =
[1 Oct - 31 Dec]
Interest receivable on march 1 :Interest= 
[1 Mar -31 -Dec]
Supplies used = 1850 unadjusted -980 ending inventory = 870
Insurance expired for the period =![[6200\times1/2 ] =3100 per year \times 9/12 =2325](https://tex.z-dn.net/?f=%5B6200%5Ctimes1%2F2%20%5D%20%3D3100%20per%20year%20%5Ctimes%209%2F12%20%3D2325)
[1april -31 dec ]
Answer: Interest rate can vary
Explanation: Based on the description of Greg's and Joyce's mortgage loan, the key term is the adjustable nature of the loan used to finance the mortgage. Being adjustable simply means not fixated. Hence, the interest on the loan is bound to change throughout the entire period of the loan. This type of mortgage loans are called ADJUSTABLE RATE MORTGAGE or FLOATING mortgage. The change in the interest rate applied on the outstanding balance of is usually at intervals which could be annually, semianually or monthly basis as the case may be.
Answer:
Company B (transaction d)
Explanation:
present value of transaction a (company D) = $1,100,000 / 1.08 = $1,018,519
present value of transaction b (company C) = $45,000 x 21.21211 (PV annuity factor, 2.4%, 30 periods) = $954,545
present value of transaction c (company A) = $1,000,000
present value of transaction d (company B) = $100,000 x 10.52141 (PV annuity factor, 4.8%, 150 periods) = $1,052,141
Answer:
1. B 2. B 3. A 4. C 5. B 6. C 7. B 8. D 9. D 10. D
