Short Company purchased land by paying $24,000 cash on the purchase date and agreed to pay...
Short Company purchased land by paying $24,000 cash on the purchase date and agreed to pay $24,000 for each of the next nine years beginning one-year from the purchase date. Short's incremental borrowing rate is 12%. The land reported on the balance sheet is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.)
$216,000.
$77,892.
$240,000.
$151,878.
Homework Answers
![Present value P+Px[1-(1:(1+r)^(n-1)]=r Here, 12% 10 1 1 Interest rate per annum 2 Number of years 3 Number of compoundings pe](http://img.homeworklib.com/questions/86b3e810-7f87-11eb-ab91-336f10e997b2.png?x-oss-process=image/resize,w_560)
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Short Company purchased land by paying $24,000 cash on the
purchase date and agreed to pay...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: Multiple Choice $100,000. $110,000. Oo oo $71,446. $38,550.
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing...
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1; PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: a. $100,000. Pie b. $38,550. . C. $110,000. d. $71,446.
Libby Company purchased equipment by paying $5,200 cash on the purchase date and agreed to pay $5,200 every six months...
Libby Company purchased equipment by paying $5,200 cash on the purchase date and agreed to pay $5,200 every six months during the next four years. The first payment is due six months after the purchase date. Libby's incremental borrowing rate is 6%. The liability reported on the balance sheet as of the purchase date, after the initial $5,200 payment was made, is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s)...
72. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to...
72. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. At what amount would the land be reported at on the balance sheet? A. $100,000 B. $38,550 C. $110,000 D. $71,446 74. Libby Company purchased equipment by paying $5,000 cash on the purchase date and agreeing to pay $5,000 every six months during...
why is the answer a and not c? Jackson Company purchased land by paying $12,000 cash on the purchase date and agree...
why is the answer a and not c?
Jackson Company purchased land by paying $12,000 cash on the purchase date and agreeing to pay $12,000 for each of the next ten years beginning one-year from the purchase date. Jackson's incremental borrowing rate is 10%. 000 At what amount would the land be reported at on the balance sheet? Seeis bo CIONI OG, \21000,PMTPN A$ 85,735 B. $120,000 C.$ 73,735 D.$132,000 E. $191,249 ds owol od Iliw OL ol od Iliw...
78. Rusty Corporation purchased a rust-inhibiting machine by paying $50,000 cash on the purchase date and...
78. Rusty Corporation purchased a rust-inhibiting machine by paying $50,000 cash on the purchase date and agreeing to pay $10,000 every three months during the next two years; the first payment is due three months after the purchase date. Rusty's incremental borrowing rate is 8%. At what amount would the liability be reported at on the balance sheet as of the purchase date, after the initial $50,000 payment was made? A. $123,255 B. $130,000 C. $80,000 D. $73,255 80. Rachel...
Drake Company purchased a building by paying $90,500 cash on the purchase date and pay $50,100...
Drake Company purchased a building by paying $90,500 cash on the purchase date and pay $50,100 at the end of each of the next at 8 years. Drake also has a final payment of $100,500 that is to be made at the end of the 10th year. Drake's incremental borrowing rate is 8%. How much should Drake report as the purchase price of the building as of the purchase date (choose the answer closest to the number you calculate)?
75. Rae Company purchased a new vehicle by paying $10,000 cash on the purchase date and...
75. Rae Company purchased a new vehicle by paying $10,000 cash on the purchase date and agreeing to pay $3,000 every three months during the next five years; the first payment is due three months after the purchase date. Rae's incremental borrowing rate is 12%. At what amount would the liability be reported at on the balance sheet as of the purchase date, after the initial $10,000 payment was made? A. $44,633 B. $50,000 C. $54,633 D. $60,000 76. Rae...
The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,000 per...
The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,000 per year for the next 10 years and an additional $2,010,000 at the end of the 10th year. The seller of the jet is charging 7% annual interest. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (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...
The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,300 per...
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)...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: Multiple Choice $100,000. $110,000. Oo oo $71,446. $38,550.
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1; PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: a. $100,000. Pie b. $38,550. . C. $110,000. d. $71,446.
Libby Company purchased equipment by paying $5,200 cash on the purchase date and agreed to pay $5,200 every six months during the next four years. The first payment is due six months after the purchase date. Libby's incremental borrowing rate is 6%. The liability reported on the balance sheet as of the purchase date, after the initial $5,200 payment was made, is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s)...
why is the answer a and not c?
Jackson Company purchased land by paying $12,000 cash on the purchase date and agreeing to pay $12,000 for each of the next ten years beginning one-year from the purchase date. Jackson's incremental borrowing rate is 10%. 000 At what amount would the land be reported at on the balance sheet? Seeis bo CIONI OG, \21000,PMTPN A$ 85,735 B. $120,000 C.$ 73,735 D.$132,000 E. $191,249 ds owol od Iliw OL ol od Iliw...
The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,000 per year for the next 10 years and an additional $2,010,000 at the end of the 10th year. The seller of the jet is charging 7% annual interest. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (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...
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)...
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