PV
On July 1, Goblette Company sold some machinery to another company. The two companies entered into an installment sales contract at a predetermined interest rate. The contract required 5 equal annual payments with the first payment due on July 1, the date of sale. This represents the following present or future value concept:
What is Present value of an annuity due of $1 for 5 periods?
Rent paid in advance for the first quarter of next year on a short-term lease is $6,600. This category of accounts conveys the short-term ownership shown here.
What is current assets?
This is the formula for Gross Profit.
What is Sales - Cost of Goods Sold?
GAAP has mostly been developed by:
What are the AICPA and the FASB?
Assuming 9 periods, a PV of$60,064, and a FV of $114,000, this would be the interest rate.
What is 7.38%?
Accounts payable of $15,400 is due to suppliers in credit periods ranging from 30 to 60 days. This type of account conveys short-term obligations.
What is current liabilities?
What is the formula for Operating Income?
What is Gross Profit - Operating Expenses?
ROE = ROA x Financial Leverage
ROA = Profit Margin x Total Asset Turnover
ROE = Profit Margin x Total Asset Turnover x Leverage
The above is an example of...
What is DuPont Analysis?
Assume that Leasing Inc. leases equipment to Rocket LLC. over a 10-year period, with payments due annually starting immediately on January 1. The equipment has a fair value of $88,000, a useful life of 10 years, and no salvage value. Leasing Inc. requires a rate of return on this lease of 10%. This would be the annual lease payment on this deal.
What is $13,020?
A 3-year, 8%, $44,000 note payable to bank originated on November 1 of this year and requires quarterly interest payments. This amount represents the long-term liability for this note.
What is $44,000?
What is Income Tax Expense?
Discontinued operations is reported in the following manner (HINT: This is also how individual items in the Statement of OCI are reported.).
What is net of tax?
On January 1, Aero Corp. issued $680,000, 10 year, 5%, bonds with cash interest payable on July 1 and January 1. The market price for bonds of similar risk is 6%. This would be the issuance price of these bonds.
What is $629,417?
Note payable of $88,000 originating on December 31 of this year. This long-term note will be paid in installments. The first installment of $11,000 is to be paid August 1 of next year. Of the $88,000, this amount is a long-term liability.
What is $77,000?
This is the formula for the Statement of Retained Earnings.
What is Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings?
He played the coach in the movie clip I showed today.
Who was Gene Hackman?
After 5 years, Jade will receive payments through an annuity investment of $7,500 per year for 10 years. Assuming an interest rate of 5% and that Jade will receive the first payment at the end of Year 6, this the present value of this investment today.
What is $45,376?
Bonds payable balance is $220,000 at December 31 of this year. Annual 5% interest on the bond is paid on January 1 of next year. This amount of the $220,000 is a current liability.
What is $11,000?
This is the formula for Other Comprehensive Income (OCI).
What is Net Income +/- Unrealized Items (Gains and Losses, Foreign Currency Adjustments, Pension Adjustments, etc.)?
What is the Financial Accounting and Reporting Exam (FAR)?