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Strike441 [17]
1 year ago
13

Peachtree Company borrows $30,000 from the local bank at 7% interest. The term of the note is five years, and the annual payment

s remain constant at $7,317. Determine the decrease in notes payable that Peachtree Company should record in the first year.
a. $1,735.
b. $5,217.
c. $2,100.
d. $7,317.
Business
2 answers:
grandymaker [24]1 year ago
4 0

Answer:

B

Explanation:

Here, in this question, we are asked to determine the decrease in notes payable that peachtree should record in the first year.

To determine this, we proceed as follows;

Interest payment for the first year = 30000*7% i.e 2100

Principal amount paid = Total amount paid - Interest amount

= 7317 -2100 i.e 5217

Notes payable should be reduced by 5217

Leviafan [203]1 year ago
3 0

Answer:

b. $5,217.

Explanation:

Note annual payment includes the interest payment for the period and the residual of total payment made and interest is the the payment towards the principal value of the lease.

Total Loan value = $30,000

Annual Loan payment = $7,317

Interest for the period = $30,000 x 7% = $2,100

Principal Payment = $7,317 - $2,100 = $5,217

The Liability is decrease by $5,217

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U.S. company buys inventory from a supplier in Canada and pays for the inventory in Canadian dollars (C$). The inventory is conv
nataly862011 [7]

Answer:

A. The rate when the inventory was paid for

Explanation:

The U.S. company should register the inventory purchase in their balance sheet using the $/C$ exchange rate at that date the inventory was paid for since that would represent the actual monetary value spent on inventory. The rate is subject to change and, therefore, using the exchange rate at the time of delivery, sale or at the balance sheet date, could incorrectly represent the company's inventory expenses.

6 0
1 year ago
A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed
monitta

Answer:

c. increases

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

The production possibility frontier is graph that shows the two combinations of goods that an economy can produce given its resocurces.

As the production of donuts increases, the amount of beers that would be forgone in order to increase production of donuts rises.

I hope my answer helps you

5 0
2 years ago
Martina advises her tax client, Breslin Baked Goods, to disclose a matter by attaching a special form to its corporate tax retur
harina [27]

Answer: Martina should draft a memo for the files indicating that Breslin is a difficult client.

Explanation: The tax professional ethics standard states that one has to be under the rules and regulations that abides the profession, most especially the AICPA (American Institute of Certified Public Accountants). This means that for one to be ethical, the person's practice must be professional and in accordance to rules.

Because Martina has to be ethical, and also secure her client, she has to disclose the matter the way her clients wants it, but she also has to indicate that Breslin is a difficult person, so that her disclosure won't appear unprofessional, and for her license to be secured.

It will be unprofessional if Martina cannot handle a difficult clients. It is also unprofessional if Martina option becomes quiting or being sacked for not delivering a job.

7 0
1 year ago
The Reid Co. acquired a piece of land for a new factory paying $100,000. Reid demolished the old building at a cost of $20,000,
Julli [10]

Answer:

A$118,000 B.$333,000

Explanation

Land$100,000

Demolition20,000

Scrap value(5,000)

Title insurance1,000

Paving assessment2,000

Total land cost($118,000)

B. The cost of the building recorde

d by Reid

Archirectfees$25,000

Construction interest8,000

Building cost300,000

Total building cost. $333,000

3 0
2 years ago
Read 2 more answers
Although most international business is conducted in English, levels of comprehension can vary. How can you enhance your oral co
Arturiano [62]

The following from the given are the ways that would enhance the oral communication skills internationally,

  • Option A: Follow up in writing.
  • Option B:  Accept blame.
  • Option E: Encourage accurate feedback.
  • Option F: Smile when appropriate.

<u>Explanation:</u>

Oral communication can be said as the most easiest and fast way of conveying the message or the information. It is more important to develop the oral communication skills for each and every individual.

The following are some of the steps to upgrade the level of language and communicating ability internationally,

Listen - Keep listening whenever the other person speaks.

Accept the mistakes - This will help in rectifying the errors.

Body language - It is not only the words but the gestures of the individual speaks too. So, try to be more appealing when it comes to body language.

Watch your tone - Maintain the right tone in the right place.

6 0
2 years ago
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