Answer: $251758.53
Explanation:
Based on the information given in the question,
Total lease liability = $280,000
Then, the balance in the lease payable account when the first lease payment takes place on January 1, 2021 will be:
= $280,000 - $16,427
= $263573
The, the interest that is included in the lease payment that's made on April 1, 2021 Will be:
= $263573 x 7% x 1/4
= $4612.53
Then, the principal amount that's included in the lease payment made on April 1, 2021 will be:
= $16,427 - $4612.53
= $11814.47
Therefore, the balance in the lease payable account after the April 1, 2021, lease payment will be:
= $263573 - $11814.47
= $251758.53
You can recognize a commercial vessel towing at night by its towing light based on the boat safety rules. A commercial boat has one light or more which indicates it is towing or not at the night time. This light has a yellow color and this light is called the towing light which functions as a towing sign for a commercial vessel<span>.</span>
Answer:
The total shareholders’ equity at the end of Year 1 is $487,400
Explanation:
The computation of the ending total shareholders’ equity is shown below:
= Common stock value in exchange of cash + net income + net holding gains - dividend paid
= $442,400 + $98,000 + $1,000 - $54,000
= $487,400
While calculating the ending balance of shareholder equity we added the net income, net holding gains and deducted the dividend paid to the common stock value amount
Answer:
ADJUSTED BOOK BALANCE
Bank balance $59,549 Book balance $61,709
+ Deposit in transit $4,250 Interest earned $33
- Outstanding checks <u>$2,075</u> Bank service fees <u>$18</u>
Adjusted book <u>$61,724</u> <u>$61,724</u>
balance
Answer:
Explanation:
Total asset turnover = Sales/total assets
3.2= 14000000/Total assets
Total assets = 4375000
E/A = 1-D/A = 1-0.45 = 0.55
Equity = E/A*assets = 0.55*4375000=2406250
Net income = (EBIT-interest)*(1-tax rate)
=(1344000-546000)*(1-0.25)=598500
ROE = Net income/total equity
ROE% = 598500/2406250=0.248
ROE% = 24.8
