Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000 to be amortized in four equal payments at the end of each of the next four years, and the interest rate is paid 15 percent on the outstanding loan. How much is the payment applied to interest on the 4th year?
Q: A and B realized that the partnership is hindering them from starting their respective families. Due…
A: Since, in the given case partners by themselves decided to fissolve the partnership. Thus, its a…
Q: A company has an overdue 10% note payable to Filipino Bank amounting to P8,000,000 with accrued…
A: Debt Restructuring - It is an event under which debtor is in financial difficulty and creditors…
Q: Question 14 Becky is a corporate account manager at a company that sells athletic equipment to other…
A: In the given question, Becky’s total earnings for the month was $ 3,782. These earnings included her…
Q: Using the following accounts and balances, prepare the stockholders' equity section of the balance…
A: The amount of assets remaining after all liabilities have been paid is referred to as stockholders'…
Q: what is the amount of owner’s equity (also known in "real-life" as net worth) for this business?
A: Accounting equation refers to an equation which shows that the both the debit side as well as credit…
Q: Inc., has 2300 shares of 5%, $50 par value, cumulative preferred stock and 100000 shares of $1 par…
A: Stockholders are the Persons of entities whom the company issues its ownership rights in the form of…
Q: On March 1, 2021, a Philippine company sold merchandise to a foreign customer in Singapore dollars…
A: Foreign currency transaction should be recorded using the exchange rate prevailing on the date of…
Q: reate a new company in Microsoft office Accouting
A: STEP.1 OPEN MISCROSOFT OFFICE ACCOUNTING SOFTWARE. STEP2. SELECT START A NEW COMPANY STEP3.A NEW…
Q: A was the designated managing partner in the Articles of Partnership. One day, A received an order…
A: A was the designated managing partner in the Articles of Partnership. One day, A received an order…
Q: Waterway Corporation was organized on January 2, 2020. During 2020, Waterway issued 39200 shares at…
A: Purchase of treasury stock will reduce the stockholders equity. The net income will be added to…
Q: Identify which category of shareholder's equity is affected by the item and briefly explain how it…
A: Treasury Stock or Securities or reacquired shares or treasury Shares are one which are repurchased…
Q: Bonneau Corporation declares a cash dividend of $100,000 on July 1 for any shareholder on record on…
A: The dividend to shareholders is declared and paid from the retained earnings of the business.
Q: Which financial statement is a summary of the revenue and expenses for a specific period of time,…
A: income statement: Matches revenues and expenses to calculate net profit or loss. pie chart: shows…
Q: B. While examining the accounts of Granny Co. on December 31, 2020, the following errors were…
A: Part1: Corrected Net Income of 2019 Unadjusted Net Income of 2019…
Q: In a liquidating distribution Ann receives cash of $3,000, inventory in which the partnership's…
A: A partnership is a type of business that is conducted by two or more partners who work together in…
Q: 10 In a liquidating distribution Ann receives cash of $3,000, inventory in which the partnership's…
A: Gain / (Loss) on distribution= Interest - Cash received - Inventory - Land basis. = $25000 - $3000 -…
Q: D4
A: Most of the company pays dividends at fixed rate of its earnings each year. this fixed rate of…
Q: irections: THE EVENTS COMMON TO THE ACCOUNTING FUNCTION OF A BUSINESS ENTITY ARE LISTED BELOW. ON…
A: Introduction:- An accounting cycle is a process of recording, identifying, and analyzing accounting…
Q: Errors can occur in posting debits and credits from the journal to the ledger. One way to detect…
A: Errors in accounting refers to the mistakes made while recording the business transactions in the…
Q: You invested 5,000 in government treasury bill today that pays 5% interest annually. if you leave…
A: t = ln(A/P)/{n[ln(1 + r/n)]} where Maturity amount (A) = 6,077.53 Principal (P) = 5,000 Interest…
Q: (Hidden Goodwill) joseph, Marco and David were partners sharing profits in the ratio of 2:2: 1.…
A: 1. Total Amount Paid to Macro on retirement = $ 560,000 Capital after all adjustments except…
Q: A Ltd owns an owner-occupied asset that is measured using the revaluation model. The asset’s…
A: As per revaluation model, The asset is carried at a revalued amount, being its fair value at the…
Q: The liability created by a business owner when purchasing an asset like office supplies or equipment…
A: The liabilities are the amount due to be paid to the creditors or suppliers of the business.
Q: Excel Online Structured Activity: Corporate valuation Dantzler Corporation is a fast-growing…
A: Horizon Value of Terminal Value or Perpetuity Value refers to the value of the firm or stock when…
Q: The following information has been extracted from the financial statements of ChopChop Pty. Ltd., a…
A: Current ratio is one of the liquidity ratio of the business which shows ratio between current assets…
Q: In translating a foreign subsidiary's financial statements, which exchange rates does the current…
A: Introduction:- As per U.S. GAAP the current rate method is required for translating (assets and…
Q: Ayres Services acquired an asset for $168 million in 2021. The asset is depreciated for financial…
A: Introduction: The deferred tax liability on a corporation's balance sheet signifies a future tax…
Q: 3. Buildz Manufacturing currently produces 1,000 tables per month. The following per unit data for…
A: Total variable cost per table = 50+10+15 = £75
Q: In the eBook, NetSolutions calls their revenue earned from providing services __________________.…
A: Solution: Service revenue are the revenue earned by a business for providing services. It can be…
Q: Zitrik Corporation manufactured 130,000 buckets during February. The variable a Budgeted 130,000…
A: Variable overhead costs mean the cost that changes with the volume of production changes. These…
Q: S1: Taxation and power of Eminent Domain may be exercised simultaneously. S2: Taxation and Police…
A: Taxes are one of the liability or obligation which needs to be paid out by the business or…
Q: Problem 1. Our company is considering investing $5 million in R+D for a new product. There is a 50%…
A: Part 1: Should we go ahead with R&D? The R&D cost is $5 millions. Even if the company is…
Q: On April 1, 2022, Pink Company signed an agreement to operate as a franchisee for a franchise fee of…
A: cost of franchisee= Initial payment + PV of future payment Future payment = 500000 semi annual…
Q: At the beginning of the reporting period, it has $5 million of share capital and 1.5 million…
A: In order to determine the earning per share, the total earning available to the equity shareholder's…
Q: 2. For financial accounting purposes, what is the total amount of period costs igcurred to sell…
A: Period cost are those cost which is not directly connected with the production process. All other…
Q: Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik Torsten on July 1, 2022, the promissory…
A: Disclaimer: We have solved 3 sub-parts, if you want to resolve it further, please resubmit it with…
Q: A company estimates that a certain piece of machinery will have to be replaced in five years' time…
A:
Q: Compute NET Profit margin ratio Income Statement (SM) 2019 Revenue 372 12 Depreciation Other…
A: Lets understand the basics. Net profit margin ratio indicates the net income generated in compare to…
Q: One of the criticisms of the NLRB is that they are too powerful and are constantly fining companies…
A: Here discuss about the activities of the National Labor Relation Board (NLRB) and it primary aims to…
Q: he General’s Favorite Fishing Hole Income Statement
A: An Income statement shows the financial position of the company It is an important statement that…
Q: C) majority and mino:
A: Stockholders are the people associated with the company but have a separate entity so they are…
Q: Lemuel bought bottles of food supplements at Php 1 800 each. He is planning to sell this at 15%…
A: In this question, we are required to calculate the quantity of bottles to be sold to be in break…
Q: So that he will not be delayed in delivering the coffee beans, D gave an additional P50,000.00. What…
A: The answer for the multiple choice question and relevant explanation are presented hereunder : D was…
Q: essa Inc. has a project that costs $800,000. It has a 70% chance of a $1,500,000 payoff and a 30%…
A: Expected Profit or loss from the project can be calculated by subtracting the costs of the project…
Q: What are the rights of creditors (claims against the assets of the company--creditors' equity) that…
A: Amount payable with In normal operating cycle is called as current liability.
Q: Hours Wait time 19.5 Process time 2.3 Inspection time 1.3 Move time 3.2 Queue time 10.3 The delivery…
A: The total amount of time from when an order is being received from the customer to when the…
Q: Memphis Wholesale Market applies the lower of cost or net realizable valuation to individual…
A: The net realizable value is calculated as selling price minus costs to sell.
Q: Which of the following is a connector account? O Retained Earnings O Prepaid Rent O Common Stock O…
A: Connector accounts are those accounts which connects or joins two particular financial statements.
Q: On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a…
A: Treasury stocks are repurchased shares of the company. The firm can reissue these stocks at a…
Q: What is a list of the accounts the company uses that includes the account numbers called with the…
A: All the accounts are listed in the chart of accounts with their respective account number.
Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000 to be amortized in four equal payments at the end of each of the next four years, and the interest rate is paid 15 percent on the outstanding loan. How much is the payment applied to interest on the 4th year?
Step by step
Solved in 2 steps
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?
- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000 to be amortized in four equal payments at the end of each of the next four years, and the interest rate is paid 15 percent on the outstanding loan. What is the annuity payment?Can someone help me with this quastion, i got wrong answer before. You have borrowed SEK 40,000 from your friend on the condition that you repay the loan with the same amount payments once a year, at the end of December, for 5 years with 8% interest. Calculate the annual annuiteterna.
- You take out a 6-year amortized loan to buy a new car. After making monthly payments of $242.30 for 4 years, you still owe $5309. If you decided to pay the loan off, how much will you save in interest?In order to buy a car, you borrow $22,500 from a friend at 10%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments. d. Three and one-half years after borrowing the money, you decide to pay off the loan. You have not yet made the payment due at that time. What is the payoff amount for the loan?You want to buy a $170000 home. You plan to pay $51000 as a down payment, and take out a 15 year loan at 5.25% interest for the rest. After 6 years, you decide to pay off the entire loan.a) What is the amount of the payment?$ b) What is the outstanding principal after 6 years?$c) If the bank charges 2 points on the loan, what is the amount charged for points?$d) If the bank charges 2 points on the loan, what is the true interest rate?$ TVM SOLVER
- A person borrows $390 that he must repay in a lump sum no more than 10 years from now. The interest rate is 9.9% annually compounded. The borrower can repay the loan at the end of the any earlier year with no prepayment penalty. What amount will be due if the borrower repays the loan after 1 year? How much would the borrower have to repay after 4 years? What amount is due at the end of the tenth year?How much money must be deposited today in order to withdraw P500 monthly for 5 years if interest rate is 10% compounded monthly?2. A man obtained a loan of P50,000 at the rate of 6% compounded annually in order to repair his house. How much he pay monthly to amortize the loan within a period of 5 years?3. What is the accumulated amount of an 8 year annuity paying P2000 with an interest of 15% compounded quarterly?4. What is the present worth of a P15,000 annuity starting at the end of the 3rdyear and continuing to the end of the 10th year, if the annual interest rate is 8%?5. What is the present value of a perpetuity that pays P15,000 per month if the interest rate is 6% compounded semiannually?In order to buy a car, you borrow $25,000 from a friend at 12%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments. Solve, a. How much are the monthly payments? b. How much interest is in the 23rd payment? c. What is the remaining balance after the 37th payment? d. Three and one-half years after borrowing the money, you decide to pay off the loan. You have not yet made the payment due at that time. What is the payoff amount for the loan?