Answer:
The interest expense of $59,463 must be recognize on its 2020 income statement.
Explanation:
With the given data make an amortization schedule
Hint : First determine the Future Value of the 5-year note
PV = $750,000
N = 5
Pmt = - $195,327
P/yr = 1
i = 9.5%
Fv = 0
<em>Input the elements in a Financial Calculator.</em>
2019
interest expense = $71,250
2020
interest expense = $59,463
Conclusion :
The interest expense of $59,463 must be recognize on its 2020 income statement.
Answer:
(1) If you get a promotion, what is the probability that you will also get a raise?
25% or 0.25
(2) Are getting a raise and being promoted independent events? Explain using probabilities.
yes, they are independent events because you a given one probability for getting a raise (40%) and another one for getting both a raise and a promotion (25%). If they were dependent events, the probability would be the same but they are not.
(3) Are these two events mutually exclusive? Explain using probabilities.
No they are not, again the probability of getting both a raise and a promotion is 25%.
Answer:
$4,269,950
Explanation:
The Cost of an asset include Purchase Cost and other costs directly incurred to put the asset in the location and condition intended for use by management.
Calculation of Cost of the Building :
Architect’s fees $46,800
Insurance $3,600
liability insurance $3,900
Excavation $15,660
Contractor $4,200,000
Total $4,269,950
Therefore,
The cost of the building that should be recorded by Wilson Co. is $4,269,950
