Assume the payments will be made at the end of each year (The first payment is made on December 31, 2019.); recalculate your answer for case # 3. Calculate the annual payment required. Show your final answer and show all the work to support your answer. Prepare the amortization table for the loan using the format covered in class.
Case #3 info: On January 1, 2019, ABC Corp. borrowed $81,000 by signing an installment loan. The loan will be repaid in 20 equal payments, one at the beginning of each year. The first payment is made on January 1, 2017. The interest rate for the loan is 10%.
In: Accounting
GDP is a measure of a country's value of final goods and service for a year. Comparing the GDP of all countries shows how productive these countries are in relationship to each other. Please use two paragraphs, a) and b) to answer the questions. For paragraph a), look at the ranking of the U.S compared to the other countries listed. Pick one of the countries (each student must pick a different country) and discuss whether the GDP for that country means the country is better off or worse off than the U.S. Is there a better measure of a country's well-being than GDP? For paragraph b), compare the Better Life Index for the U.S. to other countries in the study. Why is the U.S. lower in this measure than some other countries and does that mean anything important concerning wealth and welfare? I'm sure everyone has an opinion about whether a government should address the welfare (in general) of its citizens. Do you believe it's the responsibility of the government to help those less fortunate? Will helping those in need lead to an improvement in future productivity? Please be respectful of the views of your fellow students since this is a volatile subject. Don't forget to do a spell check and reread your posts prior to posting them.
In: Economics
The Johnsons will buy a house for $348,000.00. They will get a 30 year loan for 4.63% annual interest rate compounded monthly. Calculate the payment needed for this loan and put your answer in F6. Then fill out the amortization schedule for the first year. After the table is done find the total interest paid in the first year and the total paid to principle for the first year. ON EXCELL!!
In: Economics
On December 1 of the current year, the following accounts and their balances appear in the ledger of Latte Corp., a coffee processor:
| Preferred 2% Stock, $50 par (240,000 shares authorized, 86,000 shares issued) | $4,300,000 |
| Paid-In Capital in Excess of Par—Preferred Stock | 516,000 |
| Common Stock, $30 par (1,000,000 shares authorized, 415,000 shares issued) | 12,450,000 |
| Paid-In Capital in Excess of Par—Common Stock | 1,245,000 |
| Retained Earnings | 184,170,000 |
At the annual stockholders’ meeting on March 31, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $11,000,000. The plan provided (a) that a building, valued at $3,360,000, and the land on which it is located, valued at $945,000, be acquired in accordance with preliminary negotiations by the issuance of 123,000 shares of common stock, (b) that 38,800 shares of the unissued preferred stock be issued through an underwriter, and (c) that the corporation borrow $3,700,000. The plan was approved by the stockholders and accomplished by the following transactions:
| May 11 | Issued 123,000 shares of common stock in exchange for land and a building, according to the plan. |
| 20 | Issued 38,800 shares of preferred stock, receiving $52 per share in cash. |
| 31 | Borrowed $3,700,000 from Laurel National, giving a 5% mortgage note. |
Journalize the entries to record the May transactions. Refer to the Chart of Accounts for exact wording of account titles.
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Journalize the entries to record the May transactions. Refer to the Chart of Accounts for exact wording of account titles.
All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback.
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In: Accounting
In: Advanced Math
how an expenditure that is capitalized will affect the financial statements in the year the expenditure is incurred
In: Accounting
A company will submit a bid for the price per year it would
charge to a new development for the next five years.
The company would have to buy new equipment for $110,000. The
equipment would be depreciated straight-line to its estimated
salvage value of $10,000 over its five-year useful life. At the end
of the project, the company will be able to sell its equipment for
$10,000. Also the company would use 3 trucks it currently has,
which it could sell now for $50,000. These trucks are already fully
depreciated, and will likely be sold in 5 years for a
$10,000.
Working capital will increase by $30,000 to begin the project, and
increase by an additional $10,000 in Year 1.
Total labor and other costs would be $80,000 a year. The tax rate
is 25% percent and cost of capital is 10 percent.
What the minimum bid price per year need to be if the company wants
to wind the bid and at least cover its cost of capital?
In: Finance
In: Statistics and Probability
A 10-year loan of 120,000 is to be repaid with payments at the end of each month. Interest is at an annual effective rate of 6.00%.
The first monthly payment is 800. Each additional payment will be k more than the previous month payment. Find k.
In: Finance
(e) The balance of the value of each group at the end of the taxable year is the total of the balance of the value of the group at the end of the previous taxable year after the depreciation deduction in accordance with this Article for the previous taxable year, and fifty percent (50%) of the cost base of assets in use added to the group in the current and previous taxable years after the deduction of fifty percent (50%) of the compensation received from the assets disposed of during the current and previous 11 taxable years, provided that the balance does not become in the negative.
Required:
In: Accounting