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1 year ago

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Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments o

f $2,000,000 for 10 years with the first payment due today. If the interest rate is 3.61 percent, what is the value of this liability today?

1 answer:

fomenos1 year ago

5 0

Answer:

The value of this liability today is $24,234,083.39...

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Troy filed a good faith complaint of discriminatory harassment against his supervisor, Cynthia. One day after receiving notice o

Paraphin [41]

Answer:

Of course this is a retaliatory action. Troy filed a complaint for discriminatory harassment against Cinthia and she answers back by discriminating against Troy even more. All she needed to do was stop discriminating against Troy, she wasn't supposed to increase discrimination against him. This is an example of what shouldn't happen.

Explanation:

5 0

2 years ago

During the month of March, Sunland Company’s employees earned wages of $79,000. Withholdings related to these wages were $6,044

Brilliant_brown [7]

Answer:

The Journal entry is as follows:

On March 31st,

Salaries and Wages Expense A/c Dr. $79,000

To Wages Payable $59,377

To Federal Withholding Payable $9,258

To FICA Payable $6,044

To State Withholding Payable $3,827

To Union Dues Payable $494

(To record the salaries and wages expense and salaries and wages payable)

6 0

1 year ago

If Dominion Bank also pays 3.25% annual interest, compounded daily. If you had the following deposits and withdrawals, calculate

dimaraw [331]

Answer:

It would have earned 15.91 dollars of interest

Explanation:

We will calcualte for compounding at each moment:

First, we will calculate for $6,500 for March 1st to March 15th:

Then, from March 16th to march 27th we calculate for $5,000 + accrued interest of the peri

and from March 28th to 31th we calcualte $5,700 + accrued interest

$Principal (1 + \frac{r}{m} )^{n \times m} = Amount$

n = 15/365 days

m = 365

r = 0.0325

$6,500 (1 + \frac{0.0325}{365} )^{15/365 \times 365} = Amount$

6508.69

Then we withdraw 1,500

And we calcualte for hte period marchth to March 27th for the currnet value: 5,008.69

$5,008.69 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount$

Amount: 5,013.60

Then we deposit 700 and calcualte the rest of the month:

$5,713.60 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount$

Amount: 5,715.64

We can now calcualtethe interest earned:

6,508.96 - 6,500 = 8.96

5,013.60 - 5,008.69 = 4.91

5,715.64 - 5,713.60 = 2.04

total interest = 15.91

5 0

2 years ago

Ryan Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year p

ollegr [7]

Answer:

$475,000

Explanation:

The amount should be reported as unearned service contract revenues in Ryan's December 31, Year 1, and balance sheet will be the amount that has not expired in year 1 or outstanding service contracts that will expire in year 2 to year 4. Therefore,

Year 2 + Year 3 + Year 4 = $150,000 + 225,000 + 100,000 = $475,000 should be reported as unearned service contract revenues.

5 0

2 years ago

On January 1, Year 1, the Hoverman Corporation made amendments to its defined benefit pension plan, resulting in $150,000 of pas

Lapatulllka [165]

Answer:

Check the explanation

Explanation:

a)

In IFRS according to IAS 19 all past service cost is recognized in the net income in the period in which amendment (change) is made by entity for defined benefit pension, it does not matter what is the status of the employees who will benefit the change. So in Year 1 $150000 will be expended completely and in subsequent years the amount is $0

Year 1 =$150000

Subsequent years= $0

b) In US GAAP the past service cost is recorded in Accumulated other comprehensive income in the year of amendment. It is amortized over the future working life of the participants.

Year 1 is year of adoption hence $0 is amortized because $150000 is included in Accumulated other comprehensive income.

Subsequent years: (150000/10=15000) $15000 will be amortized for each year for 10 years.

3 0

2 years ago