Answer:
The answer is A
Explanation:
The loan is an interest only loan since he is only paying the interest potion of 7%
Interest only loan is when the borrower pays only the interest for some or all the term of the loan with no changes in the borrowed amount
Answer:
The answer is $80,000
Explanation:
The formula for straight-line depreciation is:
[Cost of asset - salvage value(if any)] ÷ useful life of the asset
Depreciation = $4,000
Cost of asset= ? (represented by y)
Useful life of the asset = 20 years
$4,000 = y ÷ 20 years
y is $4,000 x 20 years
y = $80,000
Therefore, the initial cost of the asset was $80,000
Answer:
revenue tariff
Explanation:
A revenue tariff is a tax levied on imported goods or services whose main purpose is to increase government revenue. It differs from other types of tariffs whose goal is to protect domestic products. E.g. a flat tariff levied on all types of imported goods.
Answer:
5000 partial depreciation
Explanation:
straight line formula is = <u>cost - scrape value</u>
useful life in years
since there is no residual value (scrape value) therefore, we divide <u>100,000 </u>
5
the answer we get 20000 per year depreciation. but the equipment is bought on 1st oct, and if assume that the year ends on Dec, 31 so it is measure for 3 month depreciation which is 5000.
