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Maru [420]
1 year ago
5

On January 1, year 2, Connor Corporation signed a $100,000 noninterest-bearing note due in three years at a discount rate of 10%

. Connor elects to use the fair value option for reporting its financial liabilities. On December 31, year 2, Connor's credit rating and risk factors indicated that the rate of interest applicable to its borrowings was 9%. The present value factors at 10% and 9% are presented below.
PV factor .751 10%, 3 periods
PV factor .826 10%, 2 periods
PV factor .909 10%, 1 periods
PV factor .772 9%, 3 periods
PV factor .842 9%, 2 periods
PV factor .917 9%, 1 periods
At what amount should Connor present the note on the December 31, year 2 balance sheet?
Business
1 answer:
Molodets [167]1 year ago
4 0

Answer:

the amount that should present the note in year 2 is $84,200

Explanation:

The computation of the amount that should present the note in year 2 is shown below:

= Amount of non-interest bearing note × present value factor for 2 years at 9%

= $100,000 × 0.842

= $84,200

hence, the amount that should present the note in year 2 is $84,200

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Juli2301 [7.4K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Molly estimates that she will use 10,000 pounds of cheese filling each month. The costs associated with each pound of cheese filling consist of $10.64 direct materials, $14.96 direct labor, $14.60 variable overhead, and $13.00 fixed overhead. Pasta Specialties (PS) has approached Molly and offered to supply 10,000 pounds of cheese filling each month for $405,200.

Make in house:

Unitary cost= 10.64 + 14.96 + 14.60= $40.2

Nose of the fixed cost are avoidable, therefore they are taken into account to make the decition.

Buy= 405,200/10,000= $40.52

Cost difference= 40.2 - 40.52= -0.32

8 0
2 years ago
Gans argues that _____________ account for more than ethnic culture in explaining the social mobility and success of ethnic grou
klemol [59]

Answer:

The correct answer is letter "C": class factors.

Explanation:

American sociologist Herbert Gans (born in 1927) in his book "<em>The Levittowners</em>" (1967) concludes after the observation of residents in Long Island (New York) that demographic factors like <em>class, ethnicity, </em>and <em>culture</em> are variables affecting the lifestyle of the neighborhood. In fact, class is the most important of all three that drive the community to success.

7 0
1 year ago
The Walden Manufacturing Corp. has office support salaries of $4,000, factory supplies of $1,000, indirect labor of $6,000, dire
Sedbober [7]

Answer: <em>Total Period Cost = $20,500</em>

Explanation:

Given :

Salary = $4000

Factory supply = $1000

Indirect labor = $6000

Direct material = $16000

Advertising expense = $2500

Office expense = $14000

Direct labor = $20000

Period costs are the costs incurring that do not tend to be a section of manufacturing process. Therefore, we compute the Period Cost using the following formula:

<em> Period costs = Salary + Advertising expense + Office expense </em>

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bixtya [17]

Answer:

e. accessory equipment

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8 0
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klasskru [66]

Answer:

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