Alma, a sales associate, receives a 20% employee discount. Because she was the top sales associate of the month, Alma was given an additional 10% discount for the month of March. During March, Alma purchased a pair of running shoes for $89.50, a running suit for $129.99, two pairs of socks at $4.00 each and a t-shirt for $21.50. What was the dollar amount of Alma's purchases, including a 7.5% sales tax

Answers

Answer 1

Answer:

$187.365

Explanation:

Alma Purchases  

Shoes                  $89.5

Running Suit       $129.99

Socks 2 Paris      $8

T-Shirts                $21.5

Total purchase   $248.99

Less: Discount    $74.697 [30% * $248.99{

Less: Sales Tax   $13.07198 {7.5% * $248.99}

Total Amount     $187.365

Thus, the dollar amount of Alma's purchases, including a 7.5% sales tax is $187.365.

Answer 2

The dollar amount of Alma's purchases is $187.365.

What are purchases?

In accounting, Purchases refer to the cost of buying goods or inventory during a period for the purpose of further production or resale. The amount of net purchases is calculated by adjusting the returns and discounts.

The total purchases of Alma will be:

[tex]\rm Total \:purchases = Running\: shoes + Running \:suit + Socks +T-shirt \\\\\rm Total \:purchases= \$89.50 + 129.99 + (\$4.00 \times 2) + \$21.50\\\\\rm Total \:purchases = \$248.99[/tex]

The amount of discount will be 30% of total purchases:

[tex]\rm Discount = Total\:purchases \times Rate\\\\\rm Discount = \$248.99 \times 30\%\\\\\rm Discount = \$74.697[/tex]

The sales tax amount will be:

[tex]\rm Sales \:tax = Total purchases \times Rate\\\\\rm Sales\: tax = 248.99 \times 7.5\%\\\\\rm Sales\: tax =\$18.67425[/tex]

Therefore the net purchase after sales tax will be:

[tex]\rm Net\:purchases = Total\:purchases - Discount - Sales\:tax \\\\\rm Net\:purchases = \$248.99 - \$74.697- \$18.67425\\\\\rm Net\:purchases = \$$187.365[/tex]

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Related Questions

Select the examples of layoffs. Check all that apply. India loses her job as an Urban Planner because the city ran out of funding. Tori loses her job as a Foreign Service Officer because she is not good at communicating with or negotiating with foreign officials. Hunter loses his job as a Tax Examiner because he keeps making mistakes. Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.

Answers

Answer:

Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.

Explanation:

A layoff refers to the termination of an employment contract due to a shortage of work. Employers initiate layoffs. They may be a temporary suspension of employment or permanent termination.

Layoffs are not a result of an employee's fault or incompetency. They may be caused by declining revenue, some operations' shutdown,  automation of processes, and outsourcing of some services.  

Fidel's case was a layoff. There was no work available for him after his department was shutdown.

Answer:

A.) India loses her job as an Urban Planner because the city ran out of funding.

D.) Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.

Explanation:

I don't have an explanation but I did get this right on edge

You are planning to save for retirement over the next 25 years. To do this, you will invest $820 per month in a stock account and $420 per month in a bond account. The return of the stock account is expected to be 10.2 percent, and the bond account will pay 6.2 percent. When you retire, you will combine your money into an account with a return of 7.2 percent. How much can you withdraw each month from your account assuming a 20-year withdrawal period

Answers

Answer:

$10,460

Explanation:

You will contribute 25 x 12 = 300 monthly payments to your savings accounts.  In order to determine their future value, we must first determine the effective interest rates:

stock account = 1.102 = (1 + r)¹²

¹²√1.102 = ¹²√(1 + r)¹²1.008127 = 1 + rr = 0.008127 = 0.81% monthly rate

bond account = 1.102 = (1 + r)¹²

¹²√1.062 = ¹²√(1 + r)¹²1.0050 = 1 + rr = 0.005 = 0.5% monthly rate

In 25 years, you will have:

stock account = $820 x 1,265.21433 (PV annuity factor, 0.81%, 300 periods) = $1,037,475.75bond account = $420 x 692.99396 (PV annuity factor, 0.5%, 300 periods) = $291,057.46total = $1,328,533.21

using the payout annuity formula:

P₀ = [d (1 - (1 + r/x)⁻ⁿˣ)] / (r/x)

P₀ = $1,328,533.21d = monthly withdrawal = ? r = annual interest rate = 0.072 x = number of compounding periods = 12n = number of years = 20

$1,328,533.21 = [d (1 - (1 + 0.072/12)⁻²⁴⁰)] / (0.072/12)

$7,971.20 = d (1 - 0.23795)

$7,971.20 = d (0.762)

d = $7,971.20 / 0.762 = $10,460

why does this app suck i a way? i looked at this question: The managers want to know how many boxes of 12 cookies can be filled with the 3,258 cookies that have been baked. Fatima starts by subtracting the largest number of boxes she can easily calculate. She knows that 100 boxes of 12 cookies can be put into one crate. How many crates can be filled from the total of 3,258 cookies?

then an expert verified its 3 so i put it in and it said incorrect. am i not getting something or is it maybe incorrect in my platform?

Answers

Answer:

this app is fine, it has helped me a lot

Explanation:

BUT, you shouldnt rely on it all the time, unless you're genuinely struggling on grasping a topic I suggest trying to teach to yourself.

Cabell Products is a division of a major corporation. Last year the division had total sales of $21,720,000, net operating income of $1,346,640, and average operating assets of $4,778,400. The company's minimum required rate of return is 15%. The division's margin is closest to: Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
Sales $38,380,000
Net operating income $ 3,758,960
Average operating assets $ 9,900,000
The company's minimum required rate of return 15%
The division's residual income is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales
Net operating income
Average operating assets $17,540,000 $ 648,980 $ 4,560,000
The division's return on investment (ROI) is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales $ 17,810,000
Net operating income $ 783,640
Average operating assets $ 4,640,000
The division's turnover is closest to:__________.

Answers

Answer:

1. Cabell Product Margin = Net operating income / Sales

Cabell Product Margin = 1346640 / 21720000

Cabell Product Margin = 0.062

Cabell Product Margin = 6.20%

2. Dacker Products Residual income = Net operating income - ( Average operating assets * Minimum required rate of return)

Dacker Products Residual income = 3758960 - (9900000*15%)

Dacker Products Residual income = 3,758,960 - 1,485,000

Dacker Products Residual income = 2,273,960

3. Agustin Return on investment = Net operating income / Average operating assets

Agustin Return on investment = 648980 / 4560000

Agustin Return on investment = 0.142320175

Agustin Return on investment = 14.23%

Agustin Turnover = Sales / Average operating assets

Agustin Turnover = 17810000 / 4640000

Agustin Turnover = 3.838362068965517

Agustin Turnover = 3.84

A company expects a shortage of raw materials required for production. What kind of factor is influencing its buying decision?
A.
individual
B.
interpersonal
C.
environmental
D.
organizational

Answers

Answer:

C.) Enviromental

Explanation:

Got this right on plato

Answer:

C

Explanation: I got it right on edmentum

Newton Manufacturing has 31,000 labor hours available for producing M and N. Consider the following information: Product M Product N Required labor time per unit (hours) 2 3 Maximum demand (units) 6,500 8,000 Contribution margin per unit $ 5 $ 5.70 Contribution margin per labor hour $ 2.50 $ 1.90 If Newton follows proper managerial accounting practices in terms of setting a production schedule, how much contribution margin would the company expect to generate

Answers

Answer:

total contribution margin = $68,500

Explanation:

31,000 hours of labor available

                                                                     Product M            Product N

Required labor time per unit (hours)                 2                           3

Maximum demand (units)                               6,500                    8,000

Contribution margin per unit                             $5                      $5.70

Contribution margin per labor hour               $2.50                    $1.90

since the constraint here is the total number of labor hours, the company must first produce the product that generates the highest contribution margin per labor hour = product M.

total units produced of product M = 6,500

total labor hours required = 6,500 x 2 = 13,000

contribution margin product M = 13,000 x $2.50 = $32,500

remaining labor hours = 31,000 - 13,000 = 18,000

total units of product N produced = 18,000 / 6 = 6,000

contribution margin product N= 18,000 x $2 = $36,000

total contribution margin = $68,500

What is the fundamental economic problem?

Answers

..........................

The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources mean they are limited and can run out.

Weather, Inc., a domestic corporation, operates in both Fredonia and the United States. This year, the business generated taxable income of $600,000 from foreign sources and $900,000 from U.S. sources. All of Weather’s foreign- source income is in the general limitation basket. Weather’s total taxable income is $1.5 million. Weather pays Fredonia taxes of $228,000. What is Weather’s FTC for the tax year? Assume a 34% U.S. income tax rate.

Answers

Answer:

$204,000

Explanation:

FTC for the tax year = US Tax liability*(Foreign taxable income/Worldwide taxable income)

FTC for the tax year = ($1,500,000*34%)*($600,000/$1,500,000)

FTC for the tax year = $510,000*0.4

FTC for the tax year = $204,000

So, Weather Inc's FTC for the tax year is $204,000

Ben sells stock (adjusted basis of $25,000) to his son, Ray, for its fair market value of $15,000. Ray sells the stock to his neighbor, Trish, for $26,000. Which of the following statements are most accurate?a. Ben’s recognized loss is $0 and Ray’s recognized gain is $1,000.b. Ben’s recognized loss is $10,000 and Ray’s recognized gain is $10,000.c. Ben’s recognized loss is $10,000 and Trish’s recognized gain is $1,000.d. Ray’s recognized gain is $11,000 and Trish’s basis is $26,000.e. None of the above

Answers

Answer:

Ray’s recognized gain = $11,000

Trish’s basis = $26,000.

Option "D" is the correct answer.

Explanation:

Given:

Adjusted value of stock = $25,000

Market vale = $15,000

Sales price = $26,000

Find:

Ray’s recognized gain

Trish’s basis

Computation:

Ray’s recognized gain = Sales price - Market vale

Ray’s recognized gain = $26,000 - $15,000

Ray’s recognized gain = $11,000

Trish’s basis = $26,000.

Mr. Dealer bought a fleet of SUVs (sport utility vehicles) from General Motors (GM) on credit, GM agreeing not to assign the resulting account receivable without Dealer's consent. GM later, without debtor dealer's consent, assigned the account to The Bank of New York (BNY) for consideration. Dealer made payments to BNY, but claimed damages from GM for breach of contract. 1. Could Dealer collect damages from GM

Answers

Answer:

Yes, Dealer could collect damages from GM because basically GM breached the contract. Any time a contract is breached, the non-breaching party can sue. But the real question here is what amount could the court assign to Dealer as compensation for damages incurred. If you want to rephrase this question, it would be: What damages did Dealer suffer due to GM's breach.

If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.

The Dealer could not collect damages from GM because he did not suffer any harm from the assignment of the account receivable.

The Dealer could have refused to pay the Bank of New York and claimed a breach of contract against GM Motors.  But it was not a material breach.

Secondly, the sales agreement with GM Motors only required the debtor dealer's consent before the assignment.  It did not forbid GM Motors from assigning the account.  It does not seem that any penalty was agreed upon for breach of this clause.

Thus, the Debtor Dealer could not collect damages from GM Motors because he cannot substantially prove that GM's action put him in financial loss.

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Present owners of a network good receivegreater benefits as new buyers purchase the good. How do network externalities help a monopoly retain its market power? By exploiting network externalities, a firm can become a natural monopoly. If there are strong network externalities associated with a good, other goods are poor substitutes for it. Goods with network externalities are more likely to receive a government patent.

Answers

Answer:

How network externalities help a monopoly retain its market power:

By exploiting network externalities, a firm can become a natural monopoly.

Explanation:

In economics, Network externality describes a situation whereby the demand for a product depends on the demand of other consumers buying that product.  This implies that the value of the product to the consumer is increased because others are joining as buyers.  The present owners of a network product will actually gain more benefits as new buyers purchase the good because the fixed costs of rendering the service or providing the good are not increased with increasing buyers, but remain the same over a relevant range.

Bramble Corp. purchased a truck at the beginning of 2020 for $109000. The truck is estimated to have a salvage value of $3700 and a useful life of 121000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2021

Answers

Answer:

2020 = 18275.206

2021 = 25237.190

Explanation:

Cost of truck at beginning of 2020 = $109,000

Salvage value = $3700

Useful life = 121,000 miles

Miles driven in 2020 = 21000

Miles driven in 2021 = 29000

Depreciation expense 2020:

((Cost of asset - salvage value) / useful life) * miles driven in 2020

((109,000 - 3700) / 121000) * 21000

0.8702479 * 21000 = 18275.206

Depreciation expense 2021:

((109,000 - 3700) / 121000) * 29000

= 25237.190

Assume that the accounts receivable (in millions) were $1,308 at the beginning of
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decima
Best Buy, Media Play,
Buy reported the following (in millions):
Sales
Accounts receivable at end of year
fiscal Year 1.
Year 2
$39,528
1,162
Year 1
$40,339
1,280
places.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 dans
and round to one decimal place.
3.
What conclusions can be drawn from (1) and (2) regarding Best Buys
efficiency in collecting receivables?
4.
What assumption did we make about sales for the Best Buy ratio computa-
tions that might distort the ratios and therefore cause the ratios not to be comparable
for Year 2 and Year 1?

Answers

Answer:

hhhhhhhhhhhhhhhhggggggg

Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their expectations quickly if they found anti-inflation policy credible. b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible. c. could be low because it was rational for people not to immediately change their expectations. d. could be high because it was rational for people not to immediately change their expectations.

Answers

Answer:

b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible

Explanation:

In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible

Therefore as per the given situation, the option b is correct

Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.4 direct labor-hours.
The company's total manufacturing overhead for the year is expected to be $1,632,000.
Required:
1-a. The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product? Product H Product L Overhead cost per unit
1-b. Compute the total amount of overhead cost that would be applied to each product Product H Product L Total Total overhead cost
2. Management is considering an activity-based costing system and would like to know what impact this change might have on product costs. For purposes of discussion, it has been suggested that all of the manufacturing overhead be treated as a product-level cost. The total manufacturing overhead would be divided in half between the two products, with $816,000 assigned to Product H and $816,000 assigned to Product L If this suggestion is followed, how much overhead cost per unit would be assigned to each product? (Round your answers to 2 decimal places.)
Product H Product L
Overhead cost per unit

Answers

Answer:

1a. Product H $16,000

Product L $3,200

1b. Product H $1,360,000

Product L $272,000

Total $1,632,000

2. Product H $20.40

Product L $102.00

Explanation:

1-a. Calculation for how much overhead cost per unit would be applied to each product

Product H Product L

Number of units produced 40,000 8,000( a)

Direct labor-hours per unit (b) 0.40 0.40 (b)

(a) × (b)=Total direct labor-hours 16,000 3,200 Total =$19,200

Therefore Amount of hoverhead cost per unit applied to each product is :

Product H $16,000

Product L $3,200

1-b. Computation for the total amount of overhead cost that would be applied to each product

Product H Product L Total

Manufacturing overhead applied per unit

0.40 DLH per unit × $85.00 per DLH= $34.00 (a)

Number of units produced 40,000 8,000 (b)

(a) × (b)=Total manufacturing overhead applied $1,360,000 $272,000

Total=Product H $1,360,000+Product L $272,000

Total= $1,632,000

Predetermined overhead rate of $ 85.00 per DLH is calculated as:

Total manufacturing overhead $ 1,632,000(a)

Total direct labor-hours 19,200 DLHs(b)

(a) ÷ (b) =Predetermined overhead rate $ 85.00 per DLH

Therefore the total amount of overhead cost that would be applied to each product is :

Product H $1,360,000

Product L $272,000

Total $1,632,000

C. Calculation for how much overhead cost per unit would be assigned to each product

Product H Product L Total

Total manufacturing overhead assigned (a)

$816,000 $816,000 =$1,632,000

Number of units produced (b) 40,000 8,000

(a) ÷ (b) =Manufacturing overhead per unit $20.40 $102.00

Therefore the amount of overhead cost per unit would be assigned to each product is :

Product H $20.40

Product L -$102.00

On January 1, 2020, Novak Corp. had inventory of $56,500. At December 31, 2020, Novak had the following account balances.
Freight-in $4,800
Purchases 509500
Purchase discounts 8000
Purchase returns and allowances 2700
Sales revenue 807000
Sales discounts 6000
Sales returns and allowances 10,900
At December 31, 2020, Novak determines that its ending inventory is $66,500.
Required:
Compute Novak's 2020 gross profit.
Compute Novak's 2020 operating expenses if net income is $143,000 and thre are no nonoperating activities.

Answers

Answer:

Gross Profit ⇒ $296,500Operating expenses ⇒ $153,500

Explanation:

Gross Profit;

= Net sales - Cost of Goods sold

Net sales = Sales revenue - sales discounts - sales returns and allowances

= 807,000 - 6,000 - 10,900

=  $790,100

Cost of Goods sold

= Opening balance + Purchases + Freight-in - Purchase discounts - Purchase returns and allowances -closing balance

= 56,500 + 509,500 + 4,800 - 8,000 - 2,700 - 66,500

= $493,600

Gross Profit = 790,100 - 493,600

= $296,500

Operating Expense

Net Income =  Gross profit - operating expenses

143,000 = 296,500 - operating expenses

Operating expenses = 296,500 - 143,000

= $153,500

Bantam company calculated its net income to be $77,600 based on the unadjusted trial balance. The following adjusting entries were then made for: Salaries and wages owed but not yet paid of $795. Interest earned but not received from investments of $755. Prepaid insurance premiums amounting to $555 have expired. Deferred revenue in the amount of $755 has now been earned. Required: Determine the amount of net income (loss) that will be reported after the adjustments are recorded.

Answers

Answer:

$77,760

Explanation:

After adjustment items of expenses will be deducted from the Net income, and items of income will be added to the net income.

Item of expenses = unpaid salary + Prepaid insurance (Expired)

Item of income = Interest earned + revenue

Net income after deduction = 77,600 - 795 - 555 + 755 + 755

Net income after deduction = $77,760

A payroll tax is collected by which of the following methods?
A.
It is automatically deducted as a percentage of the paycheck.
B.
The paycheck is brought to the bank for the tax to be deducted.
C.
The payroll tax is paid with the income tax on April 15 of each year.
D.
The government deducts a percentage of your paycheck directly from your personal bank account.


Please select the best answer from the choices provided

A
B
C
D

Answers

A. It’s automatically deducted as a % of the paycheck. This is based on the assumption you are not a contracted employee receiving a 1099 tax form.

Answer:

A.

It is automatically deducted as a percentage of the paycheck.

Explanation:

just did it on the exam

Drag the tiles to the correct boxes to complete the pairs.
Determine the management style that corresponds with each term.
Lila has complete faith in her team. She believes in
empowering them to make decisions.
Jacob prefers to make all decisions himself. He does
not like it when his employees question his decisions
Hannah makes a final decision after listen to
and considering her employees' suggestions
bureaucratic
laissez-faire
11
autocratic

Answers

Answer:

Lila: laissez-faire Jacob: autocratic Hannah: bureaucratic

Explanation:

Lila lets her team do their part and does not intervene.

Jacob wants complete control and would rather make all decisions, giving his employees no say.

Hannah considers all employee decisions, but makes the final choice.

Which factor would credit card companies most likely use to determine an
applicant's creditworthiness?

A. Hourly wages

B. Languages spoken

C. Political party

D. Size of family

Answers

A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

Credit card issue

When you apply for a credit card, you’re required to share an array of personal information on your application. This will include details like your name, address, Social Security number and current employment status. You’ll also be asked to list your income on your application, although the type of income card issuers ask for can vary depending on the card issuer.

Determination of hourly wages

Not all credit card issuers will ask for your annual net income. Some may explicitly ask for your gross income. If you are paid an hourly wage, on the other hand, you may need to figure out your gross income using last year’s tax return or by multiplying your gross weekly income by the number of weeks you work within a year.

Thus, A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

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Assets Liabilities
Total Reserves $60,000
Demand Deposits $200,000
Loans $140,000
The balance sheet above shows the financial situation for the Car central bank has set a reserve requirement of 10 percent. What is additional money Carland National Bank can create?
a. $600,000.
b. $40,000.
c. $200,000.
d. $60,000.
e. $400,000.

Answers

Answer:

b. $40,000

Explanation:

Calculation for What additional money Carland National Bank can create

Using this formula

Additional money=Total Reserves-(Demand Deposits*Reserve requirement percentage)

Let plug in the formula

Additional money = $60,000 -( $200,000*10%)

Additional money = $60,000-$20,000

Additional money = $40,000

Therefore the additional money Carland National Bank can create will be $40,000

how the consumer motivated to purchase product. what are the critaria and decision making​

Answers

Answer:

In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:

1.Awareness.

2.Interest.

Determination 

How can lessening utility bills reduce inflation?

Answers

Answer:

Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. Thus, lessening utility bills will reduce.

Explanation:

Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,300 units at $36 May 10 650 units at $38 May 12 910 units May 20 585 units at $40 May 14 780 units May 31 390 units Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

Answers

Answer:

total cost of goods sold = $78,520

Explanation:

Inventory Purchases Sales

May 1 1,300 units at $36

May 10 650 units at $38

May 12 910 units

Cost of goods sold = (650 x $38) + (260 x $36) = $34,060

May 20 585 units at $40

May 14 780 units

Cost of goods sold = (585 x $40) + (195 x $36) = $30,420

May 31 390 units

Cost of goods sold = 390 x $36 = $14,040

total cost of goods sold = $34,060 + $30,420 + $14,040 = $78,520

Your neighbor never mows his lawn. You don’t have any legal right to force him to mow, but the mess in his front yard is making your neighborhood unsightly and reducing the value of your house. The reduction in the value of your house is $5,000, and the value of his time to mow the lawn once a week is $1,000. Suppose you offer him a deal in which you pay him $3,000 to mow. How does this deal affect surplus?

Answers

Answer: The deal will have the effect of increasing both your surplus as well as your neighbor's

Explanation:

Assuming your neighbor accepts the deal, you would have paid $3,000 when in fact your house value had reduced by $5,000. This give you a surplus of $2,000 because you paid $2,000 less than the cost to you if your neighbor did not mow the lawn.

Your neighbor also makes a surplus because where normally it would cost them $1,000 to mow the lawn, they got $3,000. They also make a surplus of $2,000 over the cost to mow.

Three years ago, Adrian purchased 430 shares of stock in X Corp. for $70,950. On December 30 of year 4, Adrian sells the 430 shares for $64,070. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.)

a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return?

Answers

Answer:

6,880

Explanation:

Brad's Diner is expanding and expects operating cash flows of $32,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $3,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 12 percent

Answers

Answer: $57,101.73

Explanation:

First find the present value of the cash inflows. The $32,000 is a constant payment so is an annuity. The net working capital will be realized at the end of the project as well.

Present value of cash inflows = (32,000 * Present value interest factor of an annuity, 4 years, 12%) + 3,000/ (1 + 12%)⁴

= (32,000 * 3.0373) + 1,906.55

= ‭$99,101.73

NPV = Present value of inflows - Outflows

= ‭99,100.15‬ - (39,000 + 3,000)

= $57,101.73

The following note transactions occurred during the year for Towell Company: Nov. 25 Towell issued a 90-day, 10% note payable for $80,000 to Hyatt Company for merchandise. Dec. 7 Towell signed a 120-day, 9% note at the bank for $120,000. Dec. 22 Towell gave Barr, Inc., a 60-day, 9%, $120,000 note for payment of account. Prepare the general journal entries necessary to adjust the interest accounts at December 31. Use 360 days for calculations and round to the nearest dollar.

Answers

Answer:

Towell Company

Journal Entries:

Debit Interest Expense $1,790

Credit Interest Payable $1,790

To record the interest expense for the year.

Explanation:

a) Data and Calculations:

i) Nov. 25: Issue of 90-day, 10% Note Payable = $80,000

Interest on the note for the year = $80,000 * 10% * 36/360 = $800

ii) Dec. 7: Issue of 120-day, 9% Note Payable = $120,000

Interest on the note for the year = $120,000 * 9% * 24/360 = $720

iii) Dec. 22: Issue of 60-day, 9% Note Payable = $120,000

Interest on the note for the year = $120,000 * 9% * 9/360 = $270

Total interest payable for the year = $1,790

Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
Present Value Years Interest Rate Future Value
$600 8% $1,393
850 12 2,330
18,800 18 367,247
21,900 14 382,983

Answers

Answer:1)10.94years , 2.) 8.90 years 3) 17.96years  4) 21.84years

Explanation:

Using the formula

FV = PV (1 + r)ⁿ

where

PV=present value

r=interest rate

n =number of periods

FV = future value.

Present Value Years Interest Rate Future Value

$600             ?                    8%                  $1,393

850               ?                      12                   2,330

18,800               ?                 18                    367,247

21,900           ?                     14                      382,983

Using FV = PV (1 + r)ⁿ, The number of years can be calculated

FV/PV = (1 + r)ⁿ

FV/PV/ 1+r = eⁿ

In FV/PV / In ( 1+ r) = n

1)

n ( Number of years )=In FV/PV / In ( 1+ r)

=In ( 1,393/600) / In ( 1+ 0.08)

       0.84228/0.07696

       =10.94years

2.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In (2330/850) / In ( 1+ 0.12)

       1.00837625/0.113328685

       =8.90 years

3.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In (367,247/ 18,800) / In ( 1+ 0.18)

       2.97217778/0.165514438

       =17.96years

4.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In ( 382,983/ 21,900) / In ( 1+ 0.14)

       2.86150396/0.131028262

       =21.84 years

8-4 Valuing Commercial Real Estate BuildingOne Properties is a limited partnership formed with the express purpose of investing in commercial real estate. The firm is currently considering the acquisition of an office building that we refer to simply as building B. Building B is very similar to building A, which recently sold for $36,960,000. BuildingOne has gathered general information about the two buildings, including valuation information for building A:

Answers

Answer:

the question is incomplete:

Buildings A and B are similar in size (80,000 and 90,000 square feet, respectively). However, the two buildings differ both in maintenance costs ($23 and $30 per square foot) and rental rates ($100 versus $120 per square foot). At this point, we do not know why these differences exist. Nonetheless, the differences are real and should somehow be accounted for in the analysis of the value of building B using data based on the sale of building A. Building A sold for $462 per square foot, or $36,960,000. This reflects a sales multiple of six times the building’s net operating income (NOI) of $6,160,000 per year and a capitalization rate of 16.67%.

NOI of building A = ($100 x 80,000 ft²) - ($23 x 80,000 ft²) = $6,160,000

NOI of building B = ($120 x 90,000 ft²) - ($30 x 90,000 ft²) = $8,100,000

building B's market value = NOI / capitalization rate = $8,100,000 / 0.1667 = $48,600,000

property value = $48,600,000 / 90,000 ft² = $540 per ft²

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