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Semenov [28]
2 years ago
3

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments o

f $16,500 not due for three years. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
Business
1 answer:
dlinn [17]2 years ago
6 0

Answer:

Canliss borrow 43,301.21 dollars.

Explanation:

we need to solve for the present value of a ordinary annuity of 16,500 for three years discounted at 7%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C $ 16,500

time: 3 years

rate: 0.07

16500 \times \frac{1-(1+0.07)^{-3} }{0.07} = PV\\

PV $43,301.2147

You might be interested in
Balance Sheet
anyanavicka [17]

Answer:

a.  current ratio  = 1.98

b. average collection period = 32.85 days

c.  debt ratio = 35,56%

d. total asset turnover ratio = 1.11 times

e.  operating profit margin  = 47,50%

f.  inventory turnover ratio = 2 times

Explanation:

a.  current ratio

Current ratio  = Current Assets / Current Liabilities

                     = 3,075,000 / 1,550,000

                     = 1.98

b. average collection period.

Average collection period = Accounts Receivable / (Sales / 365)

                                            = 900,000 / (10,000,000 / 365)

                                            = 32.85 days

c.  debt ratio.

Debt ratio = Interest bearing debt / Total Assets × 100

                 = (700,000+2,500,000)/ 9,000,000 × 100

                 = 35,56%

d. total asset turnover ratio.

Total asset turnover ratio = Sales / Total Assets

                                          = 10,000,000 / 9,000,000

                                          = 1.11 times

e.  operating profit margin

Operating profit margin  = Operating Profit / Sales × 100

                                       = (4,550,000+200,000) / 10,000,000 × 100

                                       = 47,50%

f.  inventory turnover ratio

Inventory turnover ratio = Cost of Sales / Inventory

                                        = 3,000,000 / 1,500,000

                                        = 2 times

7 0
2 years ago
The following costs and inventory data were taken from the accounts of Simon Company for 2010:
kenny6666 [7]

Answer:

Part a

Direct Materials Schedule

Beginning Materials                               $ 8,000

<em>Add</em> Purchases                                      $83,000

<em>Less</em> Ending Materials                          ($ 7,000)

<em>Less</em> Indirect materials                          ($4,000)

Direct Materials Used in Production    $80,000

Part b

Overheads Incurred during the year

                                     $

Factory rent                  8,000

Factory utilities            10,000

Indirect materials          4,000

Indirect labor                 6,000

Total Overheads       $28,000

Part c

Cost of Goods Manufactured Schedule

Direct Materials                                   $80,000

Direct labor                                          $42,000

Overheads                                           $28,000

Add Opening Work In Process           $15,000

Less Closing Work In Process           ($13,000)

Cost of Goods Manufactured           $152,000

Part d

Cost of Goods Sold

Beginning Finished goods Inventory       $16,000

Add Cost of Goods Manufactured         $152,000

Less Ending Finished Goods Inventory ($12,000)

Cost of Goods Sold                                 $156,000

Explanation:

The following steps must be done to reach the cost of goods sold :

  1. Use the Manufacturing Cost Schedule to calculate the Cost of Goods Manufactured
  2. Use the Finished Goods Inventory Account to calculate the Cost of Goods Sold.

See the calculations and schedules prepared above.

8 0
2 years ago
Which one of the following statements regarding the economic order quantity (EOQ) is true? a. If an order quantity is larger tha
Nata [24]

Answer:

yes

Explanation:

Because yes

6 0
2 years ago
You are a newly hired operations manager for Hospital XYZ. You are required to:
Sergeu [11.5K]

Answer:

Follows are the solution to this question:

Explanation:

follows are the tasks, which is not in the priority order and at hand at Hospital XYZ:

HR domain: share the latest recruitment procedures throughout the emergency department of public health.

Operations: nurse staffing methods for function or treatment.

Funding: Review financial requests for both the purchase of new protections on wax surfaces by protection from the environment.

IT: IT reviews complaints regarding a possible breach of information.

IT: Study application in the physician's office for the implementation of new technology.

If valuing such activities, it should remember, that this patient (client) becomes impacted mainly. The clinicians or staff involved in Tasks 1 & 2, because Task 2, the very first priority must be considered, and also some standards must be developed, by each nurse, with remote care issues.

Information from its daily client is provided to control the staff, and a specific training program is intended for both the newly employed and negative feedback staff.

Respondents-Patients, Professions

Task 1, which directly affects the daily quality of service in a hospital, should be the secondary priority, with such a smaller shortage of hospitals due to customer dissatisfaction.

Members – Patients, medical personnel, permanent employees, doctors.

Task 4 When information violation is alleged, the third priority should to the loss of important patient data to certain other entities that may use for financial gains.

Participants – IT department, patients.

Task 3 will help its hospital cleaner if funds are required to purchase new buffers. Especially in comparison with all the above 3 tasks, it was taken as the fourth priority.

It was important, and that does not affect mostly the client nor would it impact the level of service as large as the three tasks above.

Advisor position-representatives of finance, environment protection, clean folk (sweepers). advisor position

Task 5 Its latest radiology software review application is now to be approved as the last. It indicates why old software is already in place since it is a new program. Consequently, nothing's ever going to stoop or the task in other projects is no slowdowns. It can be achieved as the last goal.

Investors involved-officials of the IT agency, diagnostic agents.

The process improvement throughout the solution of the problems in the hospitals by providing them the necessary importance to identify the priorities of different tasks.

6 0
2 years ago
Lilly would like to start investing. What tools and services can she benefit from?
Dmitrij [34]
Here are the tools and services that might be beneficial for Lily: 

- Brokerage service, so Lilly could gain access to various kind of private company that is not available on the stock market.

- Stock market software, which contains algorithms that analyze the stock price movement and create a graph to predict how the future price might go.
5 0
2 years ago
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