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c. $6,000 d. $30,000 18. Last year, TSU purchased a life annuity for $72,000. The annuity pays equal annual installments of $ 8,000 beginning January 1 of the current year. TSU's life expecta...
On January 1, 2018, Allgood Company purchased equipment and signed a six - year mortgage note for $80,000 at 15%. The note will be paid in equal annual installments of $21,139, beginning January 1, 2019. Calculate the portion of interest expense paid on the third installment. (Round your answer to the nearest whole number.) O A. $9,053 O B. $12,000 O C. $70,861 O D. $21,139
le above 04 JCorporation enters into a 3-year lease of equiomet , in addition,C n January 1,2017, which . In addition, Corporation lease. requires 3 annual payments of $30,000 each, beginning January 1.2 guarantees the lessor a residual value of $20,000 at the end of the The equipment has a useful life ot 4 years The pre interest rate of 9.5%. the minimum lease payment is $97,651 based upon an effectve Required: d use to allocate the annual Prepare the...
le above 04 JCorporation enters into a 3-year lease of equiomet , in addition,C n January 1,2017, which . In addition, Corporation lease. requires 3 annual payments of $30,000 each, beginning January 1.2 guarantees the lessor a residual value of $20,000 at the end of the The equipment has a useful life ot 4 years The pre interest rate of 9.5%. the minimum lease payment is $97,651 based upon an effectve Required: d use to allocate the annual Prepare the...
eBookPresent Value of an AnnuityOn January 1, you win $5,000,000 in the state lottery. The $5,000,000 prize will be paid in equal installments of $500,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.
14./15. On January 1, 2018, Allgood Company purchased equipment and signed a six-year mortgage note for $80,000 at 15%. The note will be paid in equal annual installments of $21,139, beginning January 1, 2019. Calculate the portion of interest expense paid on the third installment. (Round your answer to the nearest whole number.) O A. $21,139 OB. $70,861 O c. $9,053 OD. $12,000 On January 1, 2018, Westside Sales issued $15,000 in bonds for $16,800. These are eight-year bonds with...
Present Value of an Annuity 1) On January 1, 2016, you win $2,600,000 in the state lottery. The $2,600,000 prize will be paid in equal installments of $260,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31, 2016. If the current interest rate is 5%, determine the present value of your winnings. Use Table 2. Round to the nearest whole dollar. $ 2) Compute Bond Proceeds, Amortizing Premium by Interest Method,...
1) A machine costing $67,708 with a 7-year life and $64,149 depreciable cost was purchased January 1. Compute the yearly depreciation expense using straight-line depreciation. Round your answer to the nearest whole dollar. $__________ per year 2) Computer equipment was acquired at the beginning of the year at a cost of $54,500 that has an estimated residual value of $4,600 and an estimated useful life of 5 years. a. Determine the depreciable cost. $ b. Determine the straight-line rate. %...
Please help to explain for the below questions 97. Betty purchased an annuity for $24,000 in 2015. Under the contract, Betty will receive $300 each month for the rest of her life. According to the actuarial estimates, Betty will live to receive 96 payments and will receive a 3% return on her original investment. a. If Betty collects $3,000 in 2015, her gross income is $630 (.03 × $21,000). b. Betty has no gross income until she has collected $24,000....
Corporate Finance 5. An annuity with payments that occur at the beginning of each period is known as a_____. a) annuity due b) discounted annuity c) ordinary annuity d) immediate annuity e) deferred annuity 6. The balance sheet is a financial statement measuring the flow of funds into and out of various accounts over time while the income statement measures the progress of the firm at a point in time. a) True b) false 7. Which of the following mathematical...
b. c. d. e. Borrowed money from a bank Provided services on account Purchased inventory on account Collected cash from customers that owed a balance due SE2-3. Debit and Credit Effects Indicate the account that will be credited for each of the following LO transactions: a. Issued common stock for cash b. Borrowed money from a bank c. Provided services on account d. Purchased inventory on account e. Collected cash from customers that owed a balance due SE2-4. Determine a...