Assume you barrow $100,000 for a year and the stated interest rate is 5 percent. The loan will be st up as an installment loan with monthly payment. 1) What is the annual percentage rate? 2) Discuss why the annual percentage rate is different then the stated interest rate.

An investor buys a property for $608,000 with a 25-year mortgage that requires monthly payments at 5.10% APR. After 18 months the investor resells the property for $667,525. How much cash will the investor have from the sale, once the mortgage is paid off? Round to the nearest dollar.

HOW TO ENTER PRIOR ACCUMULATED DEPRECIATION 179 BONUS ON CURRENT TAX YEAR

College tuition:

The mean annual tuition and fees in the 2013 - 2014 academic year for a sample of 15 private colleges in California was 32,500 with a standard deviation of $7250. A dotplot shows that it is reasonable to assume that the population that the population is approximately normal. Can you conclude that the mean tuition and fees for private institutions in California is less than 35,000? Use a = 0.05 level of significance and the critical value method.

The hypothesis is a ... test.

Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $149,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $9,000. The company reports on a calendar year basis.

Please help me with the equations how to work this problem.

Required:
a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half-year convention is used).

a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used).

a-3. Prepare a complete depreciation schedule, beginning with the current year, using the 150 percent declining-balance, switching to straight-line when that maximizes the expense. (Assume that the half-year convention is used).

b. Which of the three methods computed in part a is most common for financial reporting purposes?

c. Assume that Swanson & Hiller sells the machine on December 31 of the fourth year for $31,000 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a.

The following is the summarized financial information of Number Holding Limited for the year ended 31 December, 2017 (with comparative figures):

Statement of profit or loss for the year ended 31 December

Other information:

1 Balances as of 31 December 2015:

Assume all sales and purchases are on credit terms.

Industry norms:

Required

Calculate the following financial ratios for 2017 and 2016 (round up to two decimal places):

1. Current ratio

2. Quick ratio

3. Accounts receivable turnover (use average accounts receivable)

4. Inventory turnover (use average inventory)

5. Net profit margin

6. Return on assets (use average total assets)

7. Return on shareholders’ equity (use average shareholders’equity)

Based on the information and your calculations in (a) above, comment on the company’s liquidity and profitability.

Last year Minden Company introduced a new product and sold 25,100 units of it at a price of $93 per unit. The product's variable expenses are $63 per unit and its fixed expenses are $838,200 per year.

Required:

1. What was this product's net operating income (loss) last year?

2. What is the product's break-even point in unit sales and dollar sales?

3. Assume the company has conducted a marketing study that estimates it can increase annual sales of this product by 5,000 units for each $2 reduction in its selling price. If the company will only consider price reductions in increments of $2 (e.g., $68, $66, etc.), what is the maximum annual profit that it can earn on this product? What sales volume and selling price per unit generate the maximum profit?

4. What would be the break-even point in unit sales and in dollar sales using the selling price that you determined in requirement 3?

Develop an amortization schedule for a 5-year loan of $25,000 at an interest rate of 7.5%, assuming equal annual installments at the end of each year. Use the same format that we used in class.

Please show work in Excel

Baird Company engaged in the following transactions for the year 2016. The beginning cash balance was $28,300 and the ending cash balance was $76,261.

1. Sales on account were $283,900. The beginning receivables balance was $93,900 and the ending balance was $76,700.

2. Salaries expense for the period was $51,970. The beginning salaries payable balance was $3,518 and the ending balance was $2,010.

3. Other operating expenses for the period were $121,700. The beginning other operating expenses payable balance was $4,210 and the ending balance was $7,953.

4. Recorded $19,580 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $14,230 and $33,810, respectively.

5. The Equipment account had beginning and ending balances of $210,790 and $238,990, respectively. There were no sales of equipment during the period.

6. The beginning and ending balances in the Notes Payable account were $52,100 and $149,600, respectively. There were no payoffs of notes during the period.

7. There was $6,347 of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $1,683 and $1,122, respectively.

8. The beginning and ending Merchandise Inventory account balances were $90,240 and $108,288, respectively. The company sold merchandise with a cost of $155,360 (cost of goods sold for the period was $155,360). The beginning and ending balances in the Accounts Payable account were $9,950 and $12,040, respectively.

9. The beginning and ending balances in the Notes Receivable were $4,800 and $10,100, respectively. Notes receivable result from long-term loans made to employees. There were no collections from employees during the period.

10. "The beginning and ending balances in the Common Stock account were $100,000 and $124,000, respectively. The increase was caused by the issue of common stock for cash.

11. Land had beginning and ending balances of $54,200 and $42,461, respectively. Land that cost $11,739 was sold for $8,660, resulting in a loss of $3,079.

12. The tax expense for the period was $8,260. The Taxes Payable account had a $990 beginning balance and an $912 ending balance.

13. The Investments account had beginning and ending balances of $22,400 and $25,200, respectively. The company purchased investments for $17,800 cash during the period, and investments that cost $15,000 were sold for $26,000, resulting in a $11,000 gain.

Required

1. Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Baird Company uses the direct method for showing net cash flow from operating activities.

2. Prepare a statement of cash flows using the direct method.

Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Baird Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. Select "No effect" if there is no effect (i.e., zero variance).)

Show less

Equipment1 was purchased at the beginning of the year 2016 for $50,000 cash. No salvage/residual value. Straight-line depreciation is used over a 10-year life.

Equipment2 was also purchased at the beginning of the year for 550,000 (no salvage) 10 year life. We decided to use SL method. The equipment2 required a $5,000 repair by year-end.

Equipment3 was purchased on 6/1 for 100,000 (20,000 salvage value)., 10 year life. We decided to use SYD as a depreciation method. At 12/31/2016 it required a capital improvements of $40,000 which we signed a note to pay in 9 months.

Prepare Journal entries for all transactions