The firm of Mitchell and Mitchell owns a small truck. The truck has a market value of $9,500 today. New, it cost $24,900. Last week, the company spent $3,500 repairing the engine and replacing the brake pads. The company still owes $1,200 in truck payments. If the company decides to use this vehicle for a new project, the cost assigned to that project for this truck should be:

Answers

Answer 1

Answer:

Explanation:

24900 x 1.05^6  = 33368.3815

33368.3815 - 24900 = 8468.3815

9500 - 8468.3815 = 1031.6185 cost assigned before payments

3500-1200 =  2300

therefore cost assigned = 2300 +1031.6185 = 3331.6185

Truck cost = 3331.62


Related Questions

if the natural rate of unemployment is 5%, what is the total rate of unemployment if output is 2% below potencial output?

Answers

It is 5% for rate Unemployment

A client asks you to create a minimum variance portfolio from two funds, A and B. Fund A has an expected return of 7% and a standard deviation of 13%. Fund B has an expected return of 8% and a standard deviation of 17%. The correlation between the returns of funds A and B is 0.17. What is the percentage of the total portfolio you should recommend to invest in fund A to obtain the minimum variance portfolio

Answers

Answer:

hope this helps b or a

Explanation:

Which of the following is NOT a factor of production?
A) mineral resources
B) a university professor
C) an apartment building
D) 100 shares of Microsoft stock.​

Answers

Answer:

C

Explanation:

C is not the factor of production

Give me braniliest

how to deal with accrued income in accounting equation?​

Answers

Explanation:

Accured income is the income that has been earned during the year, but is still to be received. Accordingly, it will increase the capital of the proprietor.And secondly it would be treated as a asset as it due from some third party that would be considered as a debtor of the firm.

I hope it will be help you

You are considering buying stock A. If the economy grows rapidly, you may earn 35 percent on the investment, while a declining economy could result in a 10 percent loss. Slow economic growth may generate a return of 3 percent. If the probability is 14 percent for rapid growth, 17 percent for a declining economy, and 69 percent for slow growth, what is the expected return on this investment

Answers

Answer:

A x 0.03 =  R

Explanation:

Replace the variable A i use for the cost of the stock

R = Return

A x 0.03 =  R

Due to slow growth being expected (69% probability), then you use the 3% for slow, and therefore do the price of Stock A x 0.03 to find out the gain from the start.

heiniken's macro-environment analysis

Answers

Answer:

Heineken is a big factory producing the beer drinsk

What color is the sky?

Answers

Answer:

Blue

Explanation:

Answer:blue!

Explanation:

What is the rate of interest if your money doubles every 6 years? This is also known as Rule of 72.

Answers

Answer:

about 12 percent

Explanation:

12% is the correct answer

Pedro sells investment land on September 1, 2019. Information pertaining to the sale follows: Adjusted basis $25,000 Selling price 90,000 Selling expenses 1,500 Down payment 12,000 Four installment payments 15,000 Mortgage assumed by the buyer 18,000 Required: Each installment payment is due on September 1 of 2020, 2021, 2022, and 2023 (ignore interest). Determine the tax consequences in 2019, 2020, 2021, 2022, and 2023. (Do not round intermediate calculations. Round your final answers to nearest whole dollar value.)

Answers

The tax consequence in 2019 is $10584 while the tax consequence from 2020 to 2023 will be $13229.

Bases on the information given, the realized gain will be:

= $90000 - $25000 - $1500

= $63500

The gross profit percentage will be:

= 63500/(90000 - 18000) × 100

= 63500/72000 × 100

= 88.19%

The tax consequence in 2019 will be:

= $12000 × 88.19% = $10584

The tax consequence in 2020 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2021 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2022 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2023 will be:

= $15000 × 88.19% = $13229

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All of the following indicate a possible pest infestation EXCEPT:
Dust underneath a storage shelf
Shredded paper towels in a corner of the dry storage area
Egg casings behind the refrigerator
Gnaw marks on a trash can

Answers

dust underneath a storage shelf

Statement that doesn't gives indication of pest infestation as regards this question is A: Dust underneath a storage shelf.

Pest infestation can be regarded as the  presence of an unusually large number of insects in place They usually cause  damage or disease and it  is a result improper management of a place in an healthy way.

Some of the activities that can cause this at home are Egg casings behind the refrigerator which can invite pest.

Another one is Gnaw marks on a trash can.

Therefore, option A is correct.

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Newton Company has the following accounts in its general ledger at July 31: Accounts Receivable $40,000 and Allowance for Doubtful Accounts $2,500. During August, the following transactions occurred. Oct. 15 Sold $15,000 of accounts receivable to Fast Factors, Inc. who assesses a 3% finance charge. 25 Made sales of $800 on VISA credit cards. The credit card service charge is 2%.

Answers

Based on the transactions that occurred on Aug. 15 and Oct. 25 the appropriate journal entries for Newton Company are:

Aug. 15

Debit Cash $14,550

($15,000×97%)

Debit Service Charge Expense $450

($15,000×3%)

Credit Accounts Receivable $15000

Oct. 25

Debit Cash $784

($800×98%)

Debit Service Charge Expense $16

($15,000×2%)

Credit Sales Revenue $800

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What experiences have led you to choose a certain career?

Answers

Answer:

From a personal experience they're a lot of moments in my life that led up to my decision to choose my career. From being constantly told that I was really good at something and that I was made for this certain career path, and just influences from others who are in the same work I am in and how good they were at their job and inspiring me to be just like them. All of those together helped influence me to choose the career that I am now working hard everyday to make sure I achieve success in.

Hope this helps.

The following statement is TRUE about Lean A. Lean will cost a lot of money to introduce in an organization. B. Lean can only be applied in certain types of businesses. C. Just-In-Time is when parts/supplies arrive at the last possible moment. D. Lean is all about cost-cutting and results in much of the workforce getting fired. E. When we remove waste from a process, we are left with value-added activities. This enables us to produce more in less time while actually doing the value-added work slower.

Answers

Lean manufacturing is basically a production method with major aim of reducing times within the system and response times from suppliers or customers.

Some of the advantage of Lean management includes:

It help eliminates wasteIts results to worker Satisfaction. ... Its encourage Just in Time practice Its helps gain competitive advantage

Therefore, Lean management encourages Just-In-Time practice where parts/supplies arrive at the last possible moment, helps to remove waste from a process and enables production of more in less time

In conclusion, Option C, E and F is correct and includes statement that is true about Lean management

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identify two ways lean production might be achieved

Answers

Answer:

VJNJMJNBGNFVF VGJFKVKFKRKELÑKTKFKLRGRLBG

Explanation:NBGNNUKIKUUHKNU6GGGTGJ

The following transactions took place for Smart Solutions Incorporated. 2020

a. July 1 Loaned $63,000 to employees of the company and received back one-year, 10 percent notes.
b. December 31 Accrued interest on the notes. 2021
c. July 1 Received interest on the notes. (No interest has been recorded since December 31.)
d. July 1 Received principal on the notes.

Required:
Prepare the journal entries that Smart Solutions Inc. would record for the above transactions.

Answers

Here, we going to prepare the journal entries for the various transactions of Smart Solutions Inc.

Date              Account titles and Explanation      Debit     Credit

Jul-01 2020  Notes receivable                             $63000

                          Cash                                                            $63000

Dec-31 2020  Interest Receivable                        $3,150

                           Interest Revenue                                        $3,150

Jul-01 2021     Cash                                                 $6,300

                            Interest Revenue                                       $3,150

                            Interest receivable                                     $3,150

Jul-01 2021     Cash                                                 $63000

                             Notes receivable                                        $63000

Notes:

Interest for 6 months on July 1 = $63000 * 10% * (6/12)

Interest for 6 months on July 1 = $3,150

Interest for 1 year = $63000 x 10%

Interest for 1 year = $6,300

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Leeuwin Brokerage enters into a lease agreement with Bumble Motors to lease an automobile with a fair value of $77,000 under a 5-year lease on December 20, 2018. The lease commences on January 1, 2019, and Leeuwin will return the automobile to Bumble on December 31, 2023. The automobile has an estimated useful life of 7 years. Leeuwin made a lease payment of $10,900 on December 20, 2018. In addition, the lease agreement stipulates annual payments of $10,900, due on January 1 of 2019, 2020, 2021, 2022, and 2023. The implicit rate of the lease is 6% and is known by Leeuwin. There is no purchase option, no lease incentives, no residual value guarantees, and no transfer of ownership. Leewin incurs initial direct costs of $1,100

Requried:
Assuming that this is classified as an operating lease, what is the amount of the lease liability on January 1, 2019 before the lease payment?

Answers

Answer:

Explanation:

$80,273

This interview type is used to determine which applicants have the nu
next level of interviews.
a. Group interview
b. Performance interview
C. Stress interview
d. Screening interview
0 0
Please select the best answer from the choices provided
O A

Answers

D. screening interview

hope it helps

The following information is available for Water Inc. Date Units Unit Cost January 1, 2020 (beginning inventory) 100 $50.00 Purchases: January 10, 2020 75 52.00 January 15, 2020 150 52.50 January 30, 2020 100 55.00 The company maintains a periodic inventory system. A physical count shows 125 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the FIFO inventory method

Answers

Answer:

125 and $15,156.6

Explanation:

The end inventory us 125 units and thus 300 units were sold

A firm can establish a sustainable competitive advantage over competitors if:

Answers

Answer:

it provides its customers benefits similar to its competitors but at a lower price

Explanation:

N/A

A firm can establish a sustainable competitive advantage over competitors if they are outperforming another contender.

What is firm?

When a business offers its clients advantages similar to those of its rivals but at a cheaper cost, it has an edge over its competitors. This is caused by the fact that all creates its goods at a considerably lower price than its rivals.

When a company consistently beats its rivals, it would have a competitive edge. By offering products that are comparable to those of its opponents at a cheaper cost, a business might obtain an edge over its competitors.

When a company consistently beats its rivals, it would have a competitive edge. By offering products that are comparable to those of its opponents at a cheaper cost, a business might obtain an edge over its competitors.

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#SPJ2

Business plan are also called ROAD MAPS; it’s possible to travel without one, but it will only increase the likelihood of getting lost along the way. Explain to correct answer.

Answers

It’s possible to travel without one, but it will only increase the likelihood of unorganisation, procrastination and no plans of what to do

When a serious customer injury occurs due to product contamination, you need to make contact with your DL and QA within

Answers

Serious injuries due to product contamination need to be reported within a day or 24 hours to DL and QA

Product contamination occurs as a product is in contact with a chemical, bacteria, fungi, etc., or any other substance that is not part of the regular composition of the product.

Product contamination is a serious issue that can lead to disease, accidents, and even death. Due to this, if product contamination occurs and this causes an injury this needs to be reported as soon as possible, usually within 24 hours.

This is important because the company that produces the product can:

Provide a solution or compensation to victims.Find the cause of contamination.Prevent serious injuries in other users.

Moreover, this should be reported to areas such as Quality Assurance (QA) that verify the quality of products.

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Which of the following types of business ownership has the highest personal liability risk?
A.
A partnership
B.
A sole proprietorship
C.
A C corporation
D.
An LLC

Answers

Answer:

A C corporation

Explanation:

Answer:

A.partnership

I have picked out A because in a partnership business,one is responsible for the progress of the business and when the business is in debts,he can even sell his personal property to cover up the loss made

When presenting a business plan to a potential investor ,how does Dr Hornsby recommend handling any weaknesses you or your business may have

Answers

In order to handle weaknesses that a business may have, Dr. Hornsby stated that the person should be honest about the weaknesses.

According to Dr. Hornsby, the person should be honest about their weaknesses. He stated that one should be upfront to the potential investor and explain how the issue will be addressed.

He stated that it's the best way because someone can assist by figuring out how to deal with the threats and weaknesses. It should be noted that the longer one hides the problem, the worse it'll develop until the person can't handle the pressure.

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In People focus primarily on individual rights, roles, and achievements

Answers

People in __ focus primarily on individual rights, roles, and achievements
individualistic cultures

Parker has two options for buying a car. Option A is 2.1% APR financing over 72 months and Option B is 5.1% APR over 72 months with $2600 cash back, which he would use as part of the down payment. The price of the car is $32,018 and Parker has saved $3200 for the down payment. Find the total amount Parker will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.

Answers

The total amount that Parker will spend on the car for each option with monthly payments are as follows:

                                    Option A             Option B

Monthly Payment        $473.69            $423.46

Total Cost                  $34,105.45        $36,288.86

Data and Calculations:

                                  Option A             Option B

Cost of car                 $32,018              $32,018

APR                                  2.1%                5.1%

Period of loan               72 months       72 months

Down payment               $0                  $5,800 ($2,600 + $3,200)

Total loan amount      $32,018            $26,218 ($32,018 - $5,800)

Total Loan Payments  $32,018.00     $30,488.86

Total Loan Interest     $2,087.45          $4,270.86

Monthly Payment        $473.69            $423.46

Total Cost                  $34,105.45        $36,288.86

Option B:

Auto Price = $ 32,018

Loan Term  72  months

Interest Rate  5.1%

Down Payment  5800

Results:

Monthly Pay =  $423.46

Total Loan Amount = $26,218.00

Upfront Payment = $5,800.00

Total of 72 Loan Payments = $30,488.86

Total Loan Interest = $4,270.86

Total Cost (price, interest, tax, fees) = $36,288.86

Option A:

Auto Price = $32,018

Loan Term  72  months

Interest Rate  2.1

Down Payment  0

Results:

Monthly Pay:   $473.69

Total Loan Amount = $32,018.00

Upfront Payment = $0.00

Total of 72 Loan Payments = $34,105.45

Total Loan Interest = $2,087.45

Total Cost (price, interest, tax, fees) = $34,105.45

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Lynx Inc. sells apparel merchandise to Dyson Inc. at a gross sales price of $980, credit terms 2/10, n/30 on July 10, 2020. Dyson pays for the merchandise in full on July 19, 2020.

Required:
Record the entries required on July 10, 2020, and July 19, 2020, for Lynx Inc. Assuming use of the gross method in accounting for credit sales. Omit the cost of goods sold entry.

Answers

Answer:

Explanation:

July 10

Dr. Accounts Receivable (98% of sales because of 2% discount)   960

Cr. Sales Revenue  960

July 19  

Dr. Cash   960

Cr. Accounts Receivable    960

 

5. MBO was first described by a. Henry Minzberg b. Henri Fayol. c. Fredrick W. Taylor. d. Peter Drucker.​

Answers

Answer:

MBO was first described by Peter Drucker.

Person above me is correct

What principle of corporate governance requires companies to operate in ways that respect the social and legal relationships they have with employees and creditors, among others?

A. Interests of other stakeholders

B. Integrity and ethical behavior

C. Integrity and ethical behavior

D. Disclosure and transparency​

Answers

Answer:B

Explanation:

I just need a paragraph or two answering these questions im doing a day care Business marketing plan, got stuck on this section its the last one. You can estimate the prices and the services we are targeting low to middle class so somewhere in between. For services we are offering pickups from local schools,toys,books, playgrounds the building is owned so just base your answers on that. Please someone help me its due in a couple hours.

Answers

if they have an actual number to use them as much a name for them or something that will come back up.

WHY 19/20? I think 19-20/(19+20)/2

Answers

Answer:

19-20÷(19+20)÷2=-1÷156

Explanation:

(19-20÷(19+20))÷2

(-1÷39)÷2

=-1÷156

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