Answer:
It's mostly likely he would search the internet for information.
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:
a. 45%
Explanation:
The sum of total probabilities is always equal to 1. Since in the given question only three probabilities are given, so the sum of these three probabilities shall be 1 which is represented as follows by the equation:
probability of boom+probability of normal+probability of recession=1
In the given question:
probability of boom=30%
probability of recession=25%
30%+probability of normal+25%=1
Probability of normal=1-25%-30%=45%
So based on the above calculations, the answer shall be a. 45%
Answer:
D. $42,000 should be debited to Land Improvements
Explanation:
The cost of the land housing the parking is recorded in the land account. Other costs such as paving cost and lights are improvements and as such are added and recorded in the Land Improvements accounts.
Total Land improvements = $30,000 + $12,000
= $42,000
The right answer is D. $42,000 should be debited to Land Improvements.
