total amount of interest earned in 2022?
Q: Alexandra, single with no dependents, has waterfront rental property in Maine, but she is a…
A: Income Taxes- Taxes at the federal and state levels are imposed on the income of people, businesses,…
Q: Question 3 Study the information given below and answer: 3.5 Based on the expected sales volume of 2…
A: Selling price is the one on which the product is sold after including all the cost incurred by the…
Q: When i do solver for Q3, I am not getting same answer as you. I am getting Divisional operating…
A: The solution has only been given on the requirement question in which there was a doubt. Given in…
Q: 80,000 Additional paid-in capital—Preferred 9,900 Additional paid-in capital—Common 480,000…
A: Shareholder's equity refers to the amount which company owners have invested in the business and it…
Q: Use the marginal income ratio to calculate the break-even value. INFORMATION Samcor Limited…
A: Contribution margin: Contribution margin is the value derived before adjusting fixed cost and…
Q: The owners are desirous of comparing serval financial transactions and possible outcomes to assist…
A: Here provide the details of preparation of journal entry for the issuance of shares and transfer the…
Q: The last outbreak of H1N1 hit the hospital hard. The average number of hours that had to be covered…
A: Cost-effectiveness analysis is a technique of identifying the ways of diverting the required…
Q: 1.1 Calculate the annual economic order quantity from the information provided below.
A: Given in the question: Each Month Expectation of units to be sold 800 Selling Price of…
Q: Nagy Corporation’s International Division consists of two of Nagy’s subsidiaries. One of the…
A: Financial statements refers to the records which are written form that states the activities of the…
Q: 1. Business Organization Green Corporation (GC) is stock corporation engaged in the events…
A: Answer:- I Option shall be recommended to the board of director:- b. To sell additional preferred…
Q: Year 5 Net cash flows Year 1 Year 2 Year 3 Year 4 Year 5 R10 000 R90 000 R90 000 R90 000 R90 000 R90…
A: Net Present Value- Net present value (NPV) is a tool used to calculate the current value of…
Q: Calculate the earnings of G. Henry using the straight piecework incentive scheme from the…
A: The earning of the employee refers to the total wages earned by the employee. The total earning also…
Q: 1 $ 652,500 299,000 353,500 181, 150 (19,125) 153, 225 43,850 $ 109,375
A: Cash Flow Statement : It is the statement of cash inflows and outflows from the three cash generated…
Q: This is the budget for the year ended 30 April 2021 for company XTZ Total production & sales =…
A: The break even sales are the sales where business earns no profit no loss during the period. Break…
Q: Al paid $700 for a vehicle at Honest Bob's Cars. Al signed a $500 instalment agreement after paying…
A: After discounts and allowances have been subtracted from the gross selling value, the asset's worth…
Q: The following information relates to three possible capital expenditure projects. Because of capital…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 30 June 2022: 1. Total production and sales Selling price per table Variable manufacturing costs per…
A: Marginal income : It is the profit in marginal costing. Marginal income refers to the excess of…
Q: 1.) Mccabe Corporation uses the weighted average Method in it's process Costing. The following data…
A: Equivalent units: Materials = 7,300 + (1,700 x 75%) = 7,300 + 1,275 = 8,575
Q: Prepare the journal entries with narrations to record the following: The issuances of stock. Close…
A: Journal entries refers to the official book of a firm/company which is used to record the day to day…
Q: Based on the expected sales volume of 2 400 units, determine the sales price per unit (expressed in…
A: The formula for price per unit that will be calculated to enable the break-even is as follows: Price…
Q: The amount shown for Retained earnings would be called a(n): A) net loss. B) earnings…
A: The issue price of the stock which has been issued by the company is the price on which the…
Q: Mother Company purchased the net assets of Subsidiary Company on July 1, 2019 for a consideration…
A: Once one entity buys or acquires another, a new living entity is formed as a result of the…
Q: Julia's Candy Co. reports the following information from its sales account and sales budget: Sales…
A: In order to increase the sales revenue the business entity sells their goods on a credit basis. Out…
Q: 1. Business Organization Green Corporation (GC) is stock corporation engaged in the events…
A: Answer:- l Option recommended to BOD:- To sell additional preferred shares in the stock market.…
Q: Production to stock is justified when the plant has excess production capacity. Inventory production…
A: Production to stock : Production to stock means producing required stock to consumers and providing…
Q: 4. Listed below are various types of accounting changes and errors. a) Nathalie Cole Inc. acquired…
A: While preparing the books of accounts there always remains a possibility of errors and omissions.…
Q: alculate the total Marginal Income and Net Profit/Loss if all the tables are sold.…
A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Joseph Company purchased equipment on March 31, 2025 for P800,000. The company spent P30,000 for its…
A: Lets understand the basics. Depreciation is a reduction value of asset due to wear and tear,…
Q: Shenira is a resident of the Republic. She is 30 years old. She is married in community of property.…
A: Introduction: Tax Liability: Your financial obligation to the taxation is known as your tax…
Q: Presented below is information related to equipment owned by Camel Company Q3- at December 31, 2021.…
A: Depreciation: It is the reduction in the value of the asset over the period. This includes normal…
Q: The Foundational 15 (Algo) [LO7-1, LO7-2, LO7-3, LO7-4, LO7-5] [The following information applies to…
A: As per the guidelines we can solve only first three part in one time so please repost the rest of…
Q: Duval, Inc., budgets direct materials at $1/liter and requires 4 liters per unit of finished…
A: Variance is the result of the amount of expected value and actual results. These results are helpful…
Q: II. Given Total Assets Stockholder's Equity Total Liabilities Find: Debt to Equity Equity to Asset…
A: Given, Total Assets = 15000000 Stockholders equity = 6000000 Total liabilities (Total debt) =…
Q: Use the information provided below to prepare the following for January and February 2023: Debtors…
A: Collections from debtors for a particular month are as follows: {Cash Sales for the month x (1 -…
Q: Use the information provided below to calculate the Internal Rate of Return using interpolation.…
A: Internal Rate of Return- According to current projections, the annual rate of growth that a project…
Q: Use the information provided below to prepare the Cash Budget for January and February 2023:…
A: Cash Budget can be prepared only for the cash income and expenses. Hence items which are non cash in…
Q: Atieno, Babu and Chesire have been trading in partnership sharing profits/losses in the ration of…
A: Partnership- A partnership is a business that employs two or more people who share equal…
Q: Oki Company pays $310,150 for equipment expected to last four years and have a $30,000 salvage…
A: A journal entry is the act of recording any transaction, whether one that is economic or not. An…
Q: What is the present value of $8689 after 5 months discounted at 9.8%? Round your answer to 2 decimal…
A:
Q: Assume Rock Bottom Golf is divid is from the most recent fiscal year. Sales Cost of goods Sold…
A: The departmental contribution to overhead is the sum that each department contributes to the…
Q: What exactly is a payout, and what is the distinction between cash and dividend payments
A: A client is defined as a person, corporation, or institution who owns at least one share of a firm's…
Q: Shroeder Machine Shop has the following activities: Required: 1. Classify each of the activities as…
A: Activity based costing is an approach to allocate the overheads by identifying the various…
Q: 1. What is the gain on sale of truck on September 30? 2. What is the gain on sale of machinery on…
A: As per our guidelines the solutions is only for one question under a single question or to the first…
Q: On July 2, 2022, Honesty Co. consigned 3,200 books costing P60 and retailing for P100 each to…
A: Let assume number of books sold by integrity co. Is X . Selling price of book = P100 Sale value…
Q: Strategic Workforce Planning at Dutch Railway Infrastructure Manager- ProRail Traffic Control Dutch…
A: Introduction: The Netherlands prioritized high-quality train infrastructure. However, in order to…
Q: Question 15.1 The following information relates to Leisure Zone Ltd for the year ended 31 December.…
A: When all the works of company are performed by different departments in the company itself, then it…
Q: eda Enterprises has the option to invest in machinery in projects A and B but finance is only…
A: Payback period is the time taken to recover the initial cost of investment. Payback period considers…
Q: Sugar beets are batch-processed at Kosakowski Corporation. Farmers charge $66 for a batch of sugar…
A: The object being sold is referred to as a product. A service or an object both qualify as products.…
Q: Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect…
A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing…
Q: The purchaser believes that 35 pairs of jeans should be kept in reserve. Every two weeks, she…
A: Introduction: This rate represents the number of times a company's stock is 'turned over,' or…
Jackie Corporation sold an expensive car costing P1,904,000 for P2,800,000 on June 30, 2022. A 20% down payment was made and the balance is payable in 8 equal installments of P319,088, inclusive of 3% interest), payable quarterly starting September 30 and December 31, 2022.
How much is the total amount of interest earned in 2022?
Step by step
Solved in 2 steps with 2 images
- Grummet Company is acquiring a new wood lathe with a cash purchase price of $80,000. The Wood Master Industries (the manufacturer) has agreed to accept $23,500 at the end of each of the next 4 years. Based on this deal, how much interest will Grummet pay over the life of the loan? A. $94,000 B. $80,000 C. $23,500 D. $14,000On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)Electro Corporation bought a new machine and agreed to pay for it in equal annual installments of 5,000 at the end of each of the next 5 years. Assume a prevailing interest rate of 15%. The present value of an ordinary annuity of 1 at 15% for 5 periods is 3.35. The future amount of an ordinary annuity of 1 at 15% for 5 periods is 6.74. The present value of 1 at 15% for 5 periods is 0.5. How much should Electro record as the cost of the machine? a. 12,500 b. 16,750 c. 25,000 d. 33,700
- On May 1, 2019, a company purchased a new machine that it does not have to pay for until May 1, 2021. The total payment on May 1,2021, will include both principal and interest. Assuming interest at a 10% rate, the cost of the machine would be the total payment multiplied by what time value of money concept? a. future value of annuity of 1 b. future value of 1 c. present value of annuity of 1 d. present value of 1Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
- Using the information provided, what transaction represents the best application of the present value of an annuity due of $1? A. Falcon Products leases an office building for 8 years with annual lease payments of $100,000 to be made at the beginning of each year. B. Compass, Inc., signs a note of $32,000, which requires the company to pay back the principal plus interest in four years. C. Bahwat Company plans to deposit a lump sum of $100.000 for the construction of a solar farm In 4 years. D. NYC Industries leases a car for 4 yearly annual lease payments of $12,000, where payments are made at the end of each year.Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?
- Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank in the amount of $500,000. The terms of the loan are 2.9% annual interest rate and payable in 8 months. Interest is due in equal payments each month. Compute the interest expense due each month. Show the journal entry to recognize the interest payment on October 20, and the entry for payment of the short-term note and final interest payment on May 20. Round to the nearest cent if required.On January 1, 2019, Park Company accepted a 36,000, non-interest-bearing, 3-year note from a major customer in exchange for used equipment. The equipment had originally cost Park 200,000 and had a book value of 20,000 on the date of the sale. At the 12% imputed interest rate for this type of loan, the present value of the note is 25,500 on January 1, 2019. Park uses the effective interest rate. What is the carrying value of the note receivable on Parks December 31, 2019, balance sheet? a. 28,560 b. 29,000 c. 32,500 d. 36,000Homeland Plus specializes in home goods and accessories. In order for the company to expand its business, the company takes out a long-term loan in the amount of $650,000. Assume that any loans are created on January 1. The terms of the loan include a periodic payment plan, where interest payments are accumulated each year but are only computed against the outstanding principal balance during that current period. The annual interest rate is 8.5%. Each year on December 31, the company pays down the principal balance by $80,000. This payment is considered part of the outstanding principal balance when computing the interest accumulation that also occurs on December 31 of that year. A. Determine the outstanding principal balance on December 31 of the first year that is computed for interest. B. Compute the interest accrued on December 31 of the first year. C. Make a journal entry to record interest accumulated during the first year, but not paid as of December 31 of that first year.
