On January 1, 2021, Gundy Enterprises purchases an office building for $151,000, paying $41,000 down and borrowing the remaining $110,000, signing a 7%, 10-year mortgage. Installment payments of $1,277.19 are due at the end of each month, with the first payment due on January 31, 2021.
Required:
a. Record the first monthly mortgage payment on January 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round Intermediate calculations. Round your final answers to 2 decimal places.)
Answers: 1
Business, 22.06.2019 01:30, rome58
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:
Answers: 3
Business, 23.06.2019 01:50, snikergrace
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Answers: 2
Business, 23.06.2019 02:00, kyralynn123
You are considering the purchase of one of two machines used in your manufacturing plant. machine 1 has a life of two years, costs $20,000 initially, and then $4,000 per year in maintenance costs. machine 2 costs $25,000 initially, has a life of three years, and requires $3,500 in annual maintenance costs. either machine must be replaced at the end of its life with an equivalent machine. using eac which is the better machine for the firm
Answers: 1
Business, 23.06.2019 02:40, emma2827
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. the seller announced that the highest bid in excess of $9,500 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $9,500 and $15,500. suppose you bid $12,000. what is the probability that your bid will be accepted?
Answers: 2
On January 1, 2021, Gundy Enterprises purchases an office building for $151,000, paying $41,000 down...
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