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2 years ago

Mar. 29 Received a $30,000, 60-day, 5% note dated March 29 from Karie Platt on account.

Business

1 answer:

dolphi86 [110]2 years ago

5 0

Answer:

Explanation:

Date Description Post. Ref. Debit Credit Assets Liabilities Equity

1 Mar.29 Notes receivable 30000 30000

2 Accounts receivable-Karie Platt 30000 -30000

3 Apr.30 Notes receivable 24000 24000

4 Accounts receivable-Jon Kelly 24000 -24000

5 May.28 Accounts receivable-Karie Platt 30250 30250

6 Notes receivable 30000 -30000

7 Income Summary ($30000 x 5% x 60/360) 250 250

8 Jun.29 Accounts receivable-Jon Kelly 24320 24320

9 Notes receivable 24000 -24000

10 Income Summary ($24000 x 8% x 60/360) 320 320

11 Aug.26 Cash 30855 30855

12 Accounts receivable-Karie Platt 30250 -30250

13 Income Summary ($30250 x 8% x 90/360) 605 605

14 Oct.22 Allowance for Doubtful Accounts 24320 24320

15 Accounts receivable-Jon Kelly 24320 -24320

163745 163745 1175 0 1175

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We are evaluating a project that costs $1.68 million, has a six-year life, and has no salvage value. Assume that depreciation is

zvonat [6]

Answer:

Best-Case Worst-Case

NPV NPV

PV of cash inflows $2,897,706 $3,187,477

PV of project cost $1,680,000 $1,848,000 ($1,680,000 * 1.1)

NPV $1,217,706 $1,339,477

Explanation:

a) Data and Calculations:

Initial project cost = $1.68 million

Project's estimated life = 6 years

Salvage value = $0

Depreciation expense = $280,000 ($1.68 million/6)

Income Statement:

Sales revenue (90,000 * $37.95) = $3,415,500

Cost of goods sold:

Variable cost (90,000 * $23.20) = 2,088,000

Gross profit = $1,327,500

Fixed costs = 815,000

Income before tax = $512,500

Income tax (21% of $512,500) = 107,625

Net income = $404,875

Add depreciation expense 280,000

Annual cash inflows = $684,875

PV annuity factor for 6 years at 11% = 4.231

PV of annual cash inflows of $684,875= $2,897,706 ($684,875 * 4.231)

Annual cash inflows = $753,363 ($684,875 * 1.1)

PV of annual cash inflows of $753,363 = $3,187,477 ($753,363 * 4.231)

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2 years ago

Rolf Steps is the production manager for a local manufacturing firm. This company produces staplers and other items. The annual

Mumz [18]

Answer:

His maximum inventory level would be 180 units

Explanation:

According to the given data we have the following:

daily demand rate , d=1,600/200=8 units;

daily production rate p=80 units;

C0=25 dollar

Cc=2 dollar

Therefore, Qopt=√2*25*1,600/(2(1-8/80))

Qopt=210.82

But here Rolf decide to produce 200 units each time he started production, hence fix Q=200

Therefore, Maximum inventory level=200*(1-8/80)=200*0.9

Maximum inventory level=180 units

His maximum inventory level would be 180 units

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2 years ago

Determine what paul will have to pay on an annual bases for his $449,000 home if his insurance company is charging him $0.41 per

dusya [7]

Answer:

He has to pay the insurance company=$1840.90

Explanation:

Value of his home=$449,000

Insurance company charges $0.41 per $100 of value in his home

Number of $100's in $449,000=449000/100=4490

They charge 0.41 for every $100=4490×0.41= $1840.90

He has to pay the insurance company=$1840.90

4 0

2 years ago

Cost-volume-profit analysis can also be used in making personal financial decisions. For example, the purchase of a new car is o

jek_recluse [69]

Answer:

A) 0.08; 0.12

B) 0.04

C) 150,000 miles

D) Insurance cost, carbon emission, Second hand value, Licensing fee, E. t. C

Explanation:

What is the variable gasoline cost of going one mile in the hybrid car?

The variable gasoline cost = ( cost per gallon / total miles per gallon)

Cost per Gallon = $2.40

Miles per gallon(hybrid car) = 30

Variable gasoline cost(hybrid car) =( 2.40/30) = 0.08

What is the variable cost of going one mile in the traditional car?

The variable gasoline cost = ( cost per gallon / total miles per gallon)

Cost per Gallon = $2.40

Miles per gallon(traditional car) = 20

Variable gasoline cost(hybrid car) =( 2.40/20) = 0.12

B.) variable cost savings on a per-mile basis.

Variable cost difference (0.12 - 0.08) = 0.04

C.) break even point in miles

(additional fixed cost / cost saving per mile)

(6000 / 0.04) = 150,000 miles

D) other factors may include ;

Insurance cost

carbon emission

Second hand value

Licensing fee and so on

8 0

2 years ago

If an adjustable-rate 30-year mortgage for $120,000 starts at 4.0 percent and increases to 5.5 percent, what is the increase in

Lelu [443]

Answer:

The increase in the monthly payment amount is $180

Explanation:

In order to calculate the increase in the monthly payment amount we would have to make the following calculation:

increase in the monthly payment amount=installment increase-installment

installment=(loan amount/1,000)*rate of interest

installment=($120,000/1,000)*4

installment=$480

installment increase=(loan amount/1,000)*rate of interest

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installment increase=$660

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increase in the monthly payment amount=$180

The increase in the monthly payment amount is $180

7 0

2 years ago