Homework Answers
Answer:
| Liability to be recorded = Present value of future payments = Present value of annuity of $200,100+ Present value of $10,00,500 |
| Present value of annuity = Annuity * {1 – (1+r)^-n}/r |
| Present value of annuity of $200,100 = $200,100 * (1 – 1.07^10)/0.07 = $200,100 * 7.02358 = $14,05,418.67 |
| Present value of $10,00,500 to be paid at the end of 10th year = $10,00,500 / 1.07^10 = $10,00,500*0.50835 = $508,604.18 |
| Liability to be recorded Present value = $14,05,418.67+$508,604.18 = $19,14,022.85 |
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help please! due at 10 pm
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The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,300 per year for the next 10 years and an additional $2.013,000 at the end of the 10th year. The seller of the jet is charging 7% annual interest. (FV of St. PV of SLEVA of St and PVA of 51) (Use the appropriate factor(s) from the tables provided.) Determine the liability that would be recorded by Jenkins. (Round your answer to the nearest whole dollar)...
22. On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 13 years. The annual market rate for bonds of Similar risk and maturity is 12%. What was the issue price of the bonds? (EV of S1, PV of S1, EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Multiple...
please help.
Required information The following information applies to the questions displayed below.) Christmas Anytime issues $850,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: 2.The market interest rate is 7% and the bonds issue at a discount (EV of $1. PV of $1. EVA of S1, and PVA of (Use...
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help
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apter 9i Saved On January 1 of this year, Shannon Company completed the following transactions (assume a 9% annual interest rate): (EV of $1, PV of $1. EVA of $1 and PVA of $1) (Use the appropriate factor(s) from the tables provided.) a. Bought a delivery truck and agreed to pay $60,400 at the end of three years. b. Rented an office building and was given the option of paying $10,400 at the end...
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