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On January 1, 2014, Train, Inc. accepts an $80,000, non-interest bearing 3 year note in exchange for equipment it sold to Steam Company. Train originally purchased the equipment for $125,000 and had a book value of $75,000 on the date of the sale. The note was non-interest-bearing. An assumed 11% interest rate is implicit in the agreement. Actual information for 11%, three periods, follows: Present value of 1 0.73119
Question problem 1: Present value of armuity of 1 2.44371. What amount would Train record as interest income on December 31, 2014?
A. $ 6,434
B. $ 8,800
C. $ 2,366
D. $ 0
Last year's sales were $10 million, and Apex estimates it will need to raise $2 million in new debt and equity next year, what sales growth rate is the firm
Sam is developing a business plan for starting Pizza business in Waltham. Sam specializes in pepperoni pizza. Based on the secondary data he has found out.
The company has fixed expenses of $100,000 and variable expenses of $1.00 per package. Compute the contribution margin per package
a construction company can lease an asset for the next four years by making lease payments that are equivalent to
PR 20-1A Cincinnati Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where packaging is added a..
beyonce sheffield and brittany field decide to form a partnership by combining the assets of their sparate businesses.
Owner of Reliable Employment
Provide two or three specific examples of how corporate leaders could pull off these types of fraud, as well as the internal control activities that could be used to prevent them.
You are in charge of the checking account for a small business. What would are the steps to take and why
What are the eight steps in the accounting cycle and how do they affect the financial statements? What happens if one is missing?
1. the prepaid insurance account shows a debit of 6624 representing the cost of a 2-year fire insurance policy dated
1. During 2007 the assets of Inspiring Sky increased by $30,000, and the liabilities increased by $15,000. If the ownersA????1 equity in Blue Sky is $84,000 at the end of 2007, the ownersA????1 equity at the beginning of 2007 must have been:
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