Answer:
$347,697
Explanation:
The interest revenue which shall be recorded by the Savor Corporation for the year ended 2018 in respect of equipment leased to Spree Company shall be calculated using the following mentioned formula:
Interest revenue=(Present value of lease equipment as at January 1, 2018-payment made on January 1, 2018)*interest rate
In the given question:
Present value of lease equipment as at January 1, 2018= $4,561,300
Payment made on January 1, 2018=$698,000
Interest rate=9%
Interest revenue=($4,561,300-$698,000)*9%=$347,697
Answer:
The right solution is "70375.08".
Explanation:
Given that,
Present value,
= 4360
Interest rate,
= 5%
Time period,
= 30
Now,
The present value of inflows will be:
= ![(1+rate)\times \frac{Present \ value[1-(1+Interest \ rate)^{-time \ period}]}{rate}](https://tex.z-dn.net/?f=%281%2Brate%29%5Ctimes%20%5Cfrac%7BPresent%20%5C%20value%5B1-%281%2BInterest%20%5C%20rate%29%5E%7B-time%20%5C%20period%7D%5D%7D%7Brate%7D)
= ![1.05\times 4360\times \frac{[1-(1.05)^{-30}]}{0.05}](https://tex.z-dn.net/?f=1.05%5Ctimes%204360%5Ctimes%20%5Cfrac%7B%5B1-%281.05%29%5E%7B-30%7D%5D%7D%7B0.05%7D)
= 
= 
Answer: $19037
Explanation:
The following can be deduced from the question:
Balance per Bank statement = $18361
Add: Deposits in Transit = $1450
Add: Bank error = $63
Less: Outstanding check = $837
Adjusted cash Balance per Bank:
= ($18361 + $1450 + $63) - $837
= $19874 - $837
= $19037
The adjusted cash balance per the bank records should be $19037.
N.B: The bank error was gotten as the difference between $92 and $29. $92 - $29 = $63
Answer:
The correct answer is the tax on food processors was unconstitutional.
Explanation:
On January 6, 1936, the Supreme Court decided in the United States v. Butler, that the act was unconstitutional for the collection of this tax on processors only so that it will be returned to the farmers. The regulation of agriculture was considered a state power. As such, the federal government could not force states to adopt the Agricultural Adjustment Act due to lack of jurisdiction. However, the Agrarian Law of 1938 remedied these technical problems and the agricultural program continued.
Answer:
The correct answer is a Fee simple defeasible estate.
Explanation:
A fee simple defeasible estate is a type of property that has some conditions attached to it. In case the conditions are not conformed the estate goes back to the grantor.
The holder of such an estate holds it as a fee simple subject to that condition. If the given condition is not met the estate either goes to the original grantor or to a third party.
