Question
In: Accounting
Cat leased $32,000 of conveyers to Dog for 60 months for $570 per month. The conveyers...
- Cat leased $32,000 of conveyers to Dog for 60 months for $570 per month. The conveyers have a 10 year life. The implicit rate is six percent, Dog’s incremental borrowing rate. Record the journal entries for the initiation of the lease and the first two monthly payments for both Cat and Dog.
Solutions
Expert Solution
It is assumed that lease payment is made at the beginning of every month.
ekkarill92 answered 2 years agoRelated Solutions
If the car I purchased has payments of $350 per month for 60 months, and the...
If the car I purchased has payments of $350 per month for 60
months, and the financed amount totaled $19,339, what is the ANNUAL
interest rate for the loan? a. 3.49% b. 27.4% c. 3.29% d. 0.274%
please show work.
1. From this partial advertisement: Used car $93.38 per month for 60 months Cash price $4,200...
1. From this partial advertisement:
Used car
$93.38 per month for 60 months
Cash price $4,200
Down payment $50
a. Calculate the amount financed.
b. Calculate the finance charge. (Do
not round intermediate calculations. Round your answer to the
nearest cent.)
c. Calculate the deferred payment price.
(Do not round intermediate calculations. Round your answer
to the nearest cent.)
d. Calculate the APR by formula. (Do
not round intermediate calculations. Round your answer to the
nearest tenth percent.)
e. Calculate...
The total fixed cost is $60 per month. (a) If the price pervisit is $60,...
The total fixed cost is $60 per month. (a) If the price per
visit is $60, at what level of visits will the maximum profit
position be? (b) What are the profits at this level?(c) What is the
quantity supplied? (d) If the total fixed cost increases
to $80 and the price per visit is $60, what is the quantity
supplied (assuming maximizing profits)?quantity per visits supplied:1,2,3,4,5,6,total variable cost: 20,50,90,140,210,290
A manufacturing company produces 32,000 units per month, 78% are free of defects. The percentage of...
A manufacturing company produces 32,000 units per month, 78%
are free of defects. The percentage of defective units that can be
reworked is 25%. The direct manufacturing costs for each unit is
$8.69. It costs $1.74 to rework a defective unit.
a) Determine the monthly yield.
b) Compute the manufacturing (product) cost per unit.
c) Determine the manufacturing cost per unit if the percentage
of good-quality units is increased from 78% to 96%.
Best Farm sells cat food and dog food. Its monthly fixed costs average $400,000. Cat food...
Best
Farm sells cat food and dog food. Its monthly fixed
costs average $400,000. Cat food sales represent 80% of the
company's total revenue. Dog food sales constitute the remaining
20%. The company has provided the following information expressed
on a per-case basis:
Sales
Conribution Conribution
Sales
Margin
Price
Margin Margin %
Share %
Mix
Cat Food
50
15
Dog Food
30
6
Calculate: (show your calculations and round to 2 decimal
places)
What is the Average Contribution Margin Ratio?...
A forklift can be leased for $3000 per month, with maintenanceand insurance included. Alternatively, the...
A forklift can be leased for $3000 per month, with maintenance
and insurance included. Alternatively, the forklift can be
purchased for $25,000. Maintenance will be $300 per month and
insurance will be $400 per year. At the end of five years, the
forklift will have a salvage value of $10,000. Based on an APR of
6%, determine which alternative is less expensive
A forklift can be leased for $3000 per month, with maintenance and insurance included. Alternatively, the...
A forklift
can be leased for $3000 per month, with maintenance and insurance
included. Alternatively, the forklift can be purchased for $25,000.
Maintenance will be $300 per month and insurance will be $400 per
year. At the end of five years, the forklift will have a salvage
value of $10,000. Based on an APR of 6%, determine which
alternative is less expensive.
Please show all work.
A forklift can be leased for $3000 per month, with maintenance and insurance included. Alternatively, the...
A
forklift can be leased for $3000 per month, with maintenance and
insurance included. Alternatively, the forklift can be purchased
for $25,000. Maintenance will be $300 per month and insurance will
be $400 per year. At the end of five years, the forklift will have
a salvage value of $10,000. Based on an APR of 6%, determine which
alternative is less expensive.
Suppose that 32% of people have a dog, 27% of people have a cat, and 12%...
Suppose that 32% of people have a dog, 27% of people have a cat,
and 12% have both. What is the probability that someone owns a dog
but not a cat?
The mean per capita income is 15,654 dollars per annum with a standard deviation of 570...
The mean per capita income is 15,654 dollars per annum with a
standard deviation of 570
dollars per annum.
What is the probability that the sample mean would differ from
the true mean by less than 63 dollars if a sample of 315
persons is randomly selected? Round your answer to four decimal
places.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- In racket Assume that the elements of a list are indexed starting with 1. Write a...
- Describe System Development Life Cycle (SDLC) and how it is used.
- What symbolism do you find in the play,Oedipus?
- • Using the Scanner class to obtain input from the user. • Using printf to output...
- In each of the following situations, develop a tentative plan for the client. List the various...
- MARGI sells different types of wine. Customers place orders to the most popular “Summer Wine” at...
- Java. If possible please put explanations for each line of code. Write a test program that...
ADVERTISEMENT