The sector that collect tax monies for provision of infrastructure

Akers Company sold bonds on July 1, 20X1, with a face value of $100,000. These bonds are due in 10 years. The stated annual inte

Taya2010 [7]

Answer:

$76,620.83

Explanation:

According to the scenario, computation of the given data are as follows

Future Value (FV) = $100,000

Rate of interest = 10% yearly

Rate of interest (Rate) = 10%÷ 2 = 5% semiannually

Number of period (Nper) = 9 × 2 = 18

Face value = $100,000

Payment (pmt) = $100,000 × (6%÷2) = $3,000

By putting the value in excel present value formula, we get,

PV = $76,620.83

Attachment is attached below

6 0

3 years ago

When might be the best time to start saving for retirement?

Delvig [45]

It would be d bc it not everyone does all of the things they are saying

7 0

3 years ago

Read 2 more answers

To balance columns, a _____ is inserted at the end of the text on a page.

Radda [10]

Salutations!

To balance columns, a _____ is inserted at the end of the text on a page.

To balance columns, a continuous section break is inserted at the end of the text on a page.

Hope I helped!

3 0

3 years ago

On January 1, 2018, Jolley Corp. paid $250,000 for 25% of the voting common stock of Tige Co. On that date, the book value of Ti

shusha [124]

Answer:

Dr. Investments in Associates 250,000

Cr. Cash 500,000

Dr. Cash 10,000

Cr. Investments in Associates 10,000

Dr. Investments in Associates 50,000

Cr. Investment revenue 50,000

Explanation:

The equity method is a type of accounting used to incorporate investments. It is used when the investor holds significant influence over the investee but does not exercise full control over it.

An investor is deemed to have significant influence over an investee if it owns between 20% to 50% of the investee’s shares or voting rights.

- Jolley receives dividends of $10,000, which is 25% of $40,000, and records a reduction in their investment account. The reason for this is that they have received money from their investee.

- Jolley records the net income from Tige Co. as an increase to its Investment account.

4 0

3 years ago

Carrying Amount $120,000 Selling Price $80,000 Costs of Disposal $5,000 Expected Future Cash Flows $90,000 Present Value of expe

frez [133]

Answer:

$35,000

Explanation:

Under IAS 36, an asset is said to be impaired where the carrying amount is more than the recoverable amount.

The recoverable amount is the higher of the fair value less cost to sell or the value in use which is the present value of the expected future cashflow.

Given that;

Carrying Amount = $120,000

Selling Price = $80,000

Costs of Disposal = $5,000

Hence fair value less cost to sell = $80,000 - $5,000 = $75,000

Expected Future Cash Flows = $90,000

Present Value of expected future cash flows = $85,000 ( this is the value in use)

Recoverable amount = $85,000 (since the value in use is higher that the fair value less cost to sell)

This is lower than the carrying amount hence the asset is impaired.

Impairment = $120,000 - $85,000

= $35,000

8 0

3 years ago