The adjusted trial balance for Cowboy Company follows: Cowboy Company Adjusted Trial Balance December 31, 2020 ACCOUNT NAMEDEBITCREDIT Cash 156,750 Accounts Receivable 4,500 Prepaid Rent 7,800 Building 145,000 Accumulated Depreciation - Building 65,000 Accounts Payable 5,500 Salaries Payable 1,300 Interest Payable 2,000 Unearned Revenue 24,000 Notes Payable 60,000 Cowboy, Capital 98,000 Cowboy, Withdrawals 22,000 Fees Earned 156,000 Wages Expense 35,000 Rent Expense 20,100 Supplies Expense 7,800 Utilities Expense 3,600 Depreciation Expense 9,000 Interest Expense 250 Totals411,800411,800 Prepare the closing journal entries

Answers

Answer 1

Answer:

Cowboy Company

Closing Entries:

Debit Fees Earned 156,000

Credit Income Summary 156,000

To close the revenue account to the income summary.

Debit Income Summary 75,750

Credit:

 Wages Expense 35,000

 Rent Expense 20,100

 Supplies Expense 7,800

 Utilities Expense 3,600

 Depreciation Expense 9,000

 Interest Expense 250

To close the expenses to the income summary.

Debit Net Income 80,250

Credit Cowboy, Capital 80,250

To close the income summary to the Capital account.

Explanation:

a) Data and Calculations:

Cowboy Company

Adjusted Trial Balance

December 31, 2020

ACCOUNT NAME              DEBIT     CREDIT

Cash                                156,750

Accounts Receivable         4,500

Prepaid Rent                      7,800

Building                          145,000

Accumulated Depreciation - Building 65,000

Accounts Payable                                  5,500

Salaries Payable                                     1,300

Interest Payable                                    2,000

Unearned Revenue                            24,000

Notes Payable                                    60,000

Cowboy, Capital                                 98,000

Cowboy, Withdrawals   22,000

Fees Earned                                    156,000

Wages Expense            35,000

Rent Expense                20,100

Supplies Expense           7,800

Utilities Expense            3,600

Depreciation Expense  9,000

Interest Expense             250

Totals                          411,800         411,800


Related Questions

Black Company's unadjusted and adjusted trial balances on December 31 of the current year are as follows

Answers

Answer:

wdym

Explanation:

ncome Statements Segmented by Products Francisco Consulting Firm provides three types of client services in three health-care-related industries. The income statement for July is as follows: FRANCISCO CONSULTING FIRM Income Statement For Month of July Sales $ 820,000 Less variable costs (580,750) Contribution margin 239,250 Less fixed expenses Service $ 85,600 Selling and administrative 70,400 (156,000) Net income $ 83,250 The sales, contribution margin ratios, and direct fixed expenses for the three types of services are as follows: Hospitals Physicians Nursing Care Sales $340,000 $205,000 $275,000 Contribution margin ratio 25% 35% 30% Direct fixed expenses of service $36,500 $8,500 $18,750 Allocated common fixed service expenses $8,500 $2,500 $4,000 Prepare income statements segmented by client categories. Include a column for the entire firm in the statement.

Answers

Answer:

FRANCISCO Consulting Firm

Francisco Consulting Firm

Segmented Income Statement

For the month of July

                                                     Hospitals  Physicians  Nursing      Total

                                                                                            Care

Sales                                            $340,000 $205,000 $275,000 $820,000

Variable costs                               255,000     133,250   192,500    580,750

Contribution margin ratio             $85,000     $71,750  $82,500  $239,250

Direct fixed expenses of service $36,500     $8,500    $18,750       63,750

Allocated common

 fixed service expenses                  8,500       2,500       4,000        15,000

Unallocated common fixed service expense                                      6,850

Selling and administrative              29,190      17,600      23,610      70,400

Total expenses                             $74,190   $28,600   $46,360 $156,000

Net Income                                    $10,810    $43,150    $36,140  $83,250

Explanation:

a) Data and Calculations:

CONSULTING FIRM

Income Statement

For Month of July

Sales                                                       $ 820,000

Less variable costs                  (580,750)

Contribution margin                 239,250

Less fixed expenses Service  $ 85,600

Selling and administrative          70,400 (156,000)

Net income                                              $ 83,250

The sales, contribution margin ratios, and direct fixed expenses for the three types of services are as follows:

                                                                    Hospitals  Physicians  Nursing

                                                                                                            Care

Sales                                                           $340,000 $205,000 $275,000

Contribution margin ratio                                  25%      35%       30%

Direct fixed expenses of service                $36,500     $8,500     $18,750

Allocated common fixed service expenses $8,500     $2,500      $4,000

explain briefly features of creativity ​

Answers

Answer:

In conclusion we can say that if we want to run a creative activity in the classroom, we need to check for the presence of these four features: imagination, purpose, originality and value, and organise the process in a way that all these can be incorporated.

Explanation:

hope it helps!

Aaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to be $800,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 10,000 hours, respectively. What is the predetermined overhead allocation rate?

a. $0.00 per machine hour
b. $81.25 per labor hour
c. $50.00 per machine hour
d. $51.25 per labor hour

Answers

Answer:

c. $50.00 per machine hour

Explanation:

Calculation to determine the predetermined overhead allocation rate

Using this formula

Predetermined overhead allocation rate=Manufacturing overhead costs/Machine hours

Let plug in the formula

Predetermined overhead allocation rate=$500,000/10,000

Predetermined overhead allocation rate=$50.00 per machine hour

Therefore Predetermined overhead allocation rate is $50.00 per machine hour

Giorgio Italian Market bought $8,800 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $8,800. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.)

Answers

Answer and Explanation:

The journal entry to record the collection is shown below:

Cash  $8,932  

       To Interest Revenue  $132 ($8,800 ×90 ÷ 360 × 6%)

       To Notes Receivable  $8,800

(being the collection is recorded)

Here cash is debited as it increased the assets, credited the interest revenue and note receivable as it increased the revenue but decreased the assets

If the cost of production of Hula Hoops increases, what happens to the supply curve?

Answers

Answer:

Left shift

Explanation:

In simple words, If manufacturing costs rise, the distributor's expenses for each output threshold will rise as well. The supply curve must shift inwards that is to the left) if everything else remained constant, indicating the higher cost of manufacturing. At each quantity level, the provider will supply less.

On June 1, $40,000 of treasury bonds were purchased between interest dates. The broker commission was $600. The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1. How much interest revenue will be recorded on July 1?
a. $400.
b. $2,000.
c. $2,400.
d. $406.

Answers

Answer: $400

Explanation:

The amount of interest revenue that will be recorded on July 1 will be calculated thus:

Interest revenue = Face value × Interest percentage × 1/12

= $40,000 × 12% × 1/12

= $40000 × 0.12 × 0.08333

= $400

Therefore, the interest revenue that will be recorded on July 1 is $400.

Match the types of analytics that can be used to answer the business questions. Which people are mentioned in a company's business documents?

Answers

Answer:

Predictive

Cognitive

Explanation:

Predictive analysis help to forecast about future. It helps to analyse and identify profitable business activities and make strategy for business progress. Cognitive analysis predicts business performance based on current patterns and existing data.

Financial statements that must be included in the annual report include all of the following except: _____________

a. the statement of cash flows
b. the balance sheet
c. the cash budget
d. the income statement

Answers

Answer:

c

Explanation:

A small toy store has organized its 10 inventory items on an annual dollar-volume basis. The information below shows the items, their annual demands, and unit costs. How should the store classify these items into groups A, B, and C?
Item Number Annual Volume (Units) Unit Cost ($)
Item 1 300 $10
Item 2 1000 $30
Item 3 500 $60
Item 4 100 $2
Item 5 1500 $20
Item 6 600 $50
Item 7 2000 $1.50
Item 8 900 $70
Item 9 1200 $2.00
Item 10 700 $40

Answers

Answer:

Classification:

Groups      Annual Dollar-Volume

 

A                  Above $30,000:

Item           Annual Volume  Unit Cost    Total Cost

Item 8              900                 $70         $63,000

B                  Above $3,000:

Item           Annual Volume  Unit Cost    Total Cost

Item 2              1,000                $30          $30,000

Item 3                500                $60          $30,000

Item 5             1,500                 $20         $30,000

Item 6               600                 $50         $30,000

Item 10              700                 $40         $28,000

C                 $3,000 and Below

Item           Annual Volume  Unit Cost    Total Cost

Item 1                300                 $10             $3,000  

Item 4               100                   $2                $200  

Item 7           2,000               $1.50             $3,000  

Item 9           1,200              $2.00             $2,400

Explanation:

a) Data and Calculations:

Item           Annual Volume  Unit Cost    Total Cost

Number            (Units)                ($)               ($)

Item 1                  300                 $10           $3,000

Item 2              1,000                $30         $30,000

Item 3                500                $60         $30,000

Item 4                100                   $2              $200

Item 5            1,500                 $20         $30,000

Item 6              600                 $50         $30,000

Item 7           2,000               $1.50           $3,000

Item 8              900                 $70         $63,000

Item 9           1,200              $2.00           $2,400

Item 10            700                 $40         $28,000

Refer to Exhibit 26-5. Assume the firm is a factor price taker and that the price of a unit of labor is constant at $1,200. The firm should hire __________ of labor.

Answers

Answer: 3 units of labor

Explanation:

The marginal revenue product will be:

- 1 labor unit

Marginal product = 500

Marginal revenue product = 500 × 5 = 2500

- 2 labor unit

Marginal product = 400

Marginal revenue product = 400 × 5 = 2000

- 3 labor unit

Marginal product = 250

Marginal revenue product = 250 × 5 = 1250

- 4 labor unit

Marginal product = 200

Marginal revenue product = 200 × 5 = 1000

- 5 labor unit

Marginal product = 200

Marginal revenue product = 200 × 5 = 1000

Therefore, till the third unit of labor, we can infer that the marginal revenue product is more than the marginal revenue cost. The 4th and 5th unit of labor will become costly to hire more labor.

Brit wants to sell throw blankets for the holiday season at a local flea market. Brit purchases the throws for $15, and sells them to his customers for $35. The rental space is fixed fee of $1500 for the season. Assume there is no leftover value for unsold units. The payoff, if he orders 200 and Demand is 150, is:__________a. 2800. b. 1050. c. 50. d. 800.

Answers

Answer:

Correct option is b. 1050.

Explanation:

Note: There is an error in this question as the number of unit of order is 180 NOT 200 erroneously included in the question. The question is therefore fixed and the complete correct question is therefore provided before answering the question as follows:

Brit wants to sell throw blankets for the holiday season at a local flea market. Brit purchases the throws for $15, and sells them to his customers for $35. The rental space is fixed fee of $1500 for the season. Assume there is no leftover value for unsold units. The payoff, if he orders 180 and Demand is 150, is:__________a. 2800. b. 1050. c. 50. d. 800.

The explanation of the order is now provided as follows:

Total revenue = Demand * Selling price = 150 * $35 = $5,250

Cost of purchases = Order * Cost per unit = 180 * $15 = $2,700

Since it is assumed that there is no leftover value for unsold units, this implies that:

Payoff = Total revenue - Cost of purchases - Fixed fee for rental space = $5,250 - $2,700 - $1,500 = $1,050

This implies that the payoff is $1,050. Therefore, correct option is b. 1050.

Suppose Brian and Crystal are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Brian chooses Right and Crystal chooses Right, Brian will receive a payoff of 5 and Crystal will receive a payoff of 6.
Crystal
Left Right
Left 6, 3 6,4
Brian Right 3, 3 7,4
The only dominant strategy in this game is for_____to choose____. The outcome reflecting the unique Nash equilibrium in this game is as follows: Brian chooses____and Crystal chooses____.

Answers

Answer:

The only dominant strategy in this game is for Crystal to choose Right. The outcome reflecting the unique Nash equilibrium in this game is as follows: Brian chooses Right and Crystal chooses Right.

Explanation:

Given:

                                   Crystal

                         Left                Right

Brian   Left      6, 3                 6, 4

          Right      3, 3                 7, 4

A dominant strategy refers to a strategy that makes a player being better off regardless of the choice his opponent in a game.

It can be seen from the payoff matrix above that when Brian plays Left, Crystal chooses Right because 4 > 3. Also, when Brian plays Right, Crystal chooses Right because 4 > 3. The indication of this is that Crystal will always choose Right no matter what Brian chooses. This means that the dominant strategy for Crystal is Right.

On the other hand, when Crystal Chooses Left, Brian will also choose Left because 6 > 3. And when Crystal chooses Right, Brian will also play Right because 7 > 6. This is an indication that Brian does not have any specific strategy that makes him better off. Therefore, Brian does not have a dominant strategy.

Based on the analysis above, we have:

The only dominant strategy in this game is for Crystal to choose Right. The outcome reflecting the unique Nash equilibrium in this game is as follows: Brian chooses Right and Crystal chooses Right.

Paxton Company can produce a component of its product that incurs the following costs per unit: direct materials, $9.50; direct labor, $13.50, variable overhead $2.50 and fixed overhead, $7.50. An outside supplier has offered to sell the product to Paxton for $33.00. Compute the net incremental cost or savings of buying the component.

Answers

Answer:

$7.50 per unit

Explanation:

Cost of buying from outside supplier = $33 per unit.

Relevant cost of making such component in-house = Direct materials+ Direct labor+ Variable overhead

= $9.50 per unit + $13.50 per unit + $2.50 per unit

= $25.50 per unit

Net incremental cost of buying the component = Cost of buying from outside supplier- Relevant cost of making such component in-house

= $33.00 per unit - $25.50 per unit

= $7.50 per unit

Gwen plans to retire in 3 years with $426,000 in her account, which has an annual return of 6.29 percent. If she receives annual payments of X, with her first payment of X received in 4 years and her last payment of X received in 9 years, then what is X, the amount of each payment? Number Emerson plans to retire in 3 years with $296,000 in his account, which has an annual return of 10.13 percent. If he receives payments of $60,700 per year and he receives his first $60,700 payment in 4 years, then how many payments of $60,700 can Emerson expect to receive? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Answers

Answer:

Q1. $87,423

Q2. 7.06

Explanation:

Q1. Calculation to determine what is X, the amount of each payment

Using Financial calculator to find X

End mode,

N = 6

% = 6.29%

PV= -$426,000

FV = 0

Hence:

X = 87,423

Therefore X, the amount of each payment will be

Q2. Calculation to determine how many payments can Emerson expect to receive

Using Financial calculator

End mode,

%= 10.13%

PV = -$296,000

PMT =$60,700

FV = 0

Hence,

Payment = 7.06

Therefore how many payments can Emerson expect to receive will be 7.06

You are evaluating five different investments, all of which involve an upfront outlay of cash. Each investment will provide a 2 Review Only Click the icon to see the Worked Solution (Calculator Use). single cash payment back to you in the future. Details of each investment appears here: . Calculate the IRR of each investment. State your answer to the nearest basis point (i.e., the nearest 1/100th of 1%, such as 3.76%)

Answers

Answer:

8.27%

4.69%

10.77%

9.47%

4.81%

Explanation:

Please find attached the diagram of the cash flows

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR = (future value / present value)^(1/n)

n = number of years

1. (2637/1100)^(1/11) - 1 = 8.27

2. (13091 / 9500)^(1/7) - 1 = 4.69

3. (1855 / 400)^(1/15) - 1 = 10.77

4. (5030 / 3200)^(1/5) - 1 = 9.47

5. (9598 / 6000)^(1/10) - 1 = 4.81

You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers you a free ticket to a Post Malone concert that you think is worth $80. What is the opportunity cost to you of going to the Drake concert instead of the Post Malone concert?a) $155b) $20c) $5d) $75e) $80

Answers

Answer: $80

Explanation:

The opportunity cost is regarded as the real cost of the alternative that was left or forgone.

Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.

Therefore, the correct option is E.

The following information is available for Jorgensen Company: a. The Cash Budget for March shows a bank loan of $10,000 and an ending cash balance of $48,000. b. The Sales Budget for March indicates sales of $120,000. Accounts receivable is expected to be 70% of March sales.

Answers

Answer:

Accounts receivable is

Explanation:

Expected accounts receivable is 70% of sales amount. The sales budget is $120,000 then accounts receivable will be $84,000. The rest of sales will be in cash, so the cash collection for the month of march will be $36,000. The new cash balance will be $36,000 + $48,000 = 84,000.

The quantity demanded for money is higher in Japan than in the United States because: telecommunications and information technology is more advanced in the United States than in Japan. Japanese interest rates are higher than those in the United States. Japanese interest rates are lower than those in the United States. Japanese consumers use credit cards more than people in the United States.

Answers

Answer:

Japanese interest rates are lower than those in the United States.

Explanation:

The demand for money (the decision to hold money) is inversely related to interest rate. if interest rate is high, individuals would prefer to hold bonds and the demand for money would fall. if interest rate is low, individuals would prefer to hold money.

the opportunity cost of holding money is what would have been earned if money was invested. if interest rate is low, individuals would prefer to hold more money because the amount that would be earned if money was invested in bonds would be low, so the opportunity cost of holding money would be low

If the demand for money is higher in Japan than in the United States, it is because interest rates are lower in Japan

The following data are from the financial statements of the Riverton Company.
Current assets $55,000
Total liabilities $95,000
Total assets 125,000
Net income 18,000
Current liabilities 25,000
Sales 275,000

Answers

Answer:

then what i have to found

A portfolio with a level of systematic risk that is the same as that of the market has a beta that is equal to one. less than zero. equal to zero. less than the beta of the

Answers

Answer:

equal to one.

Explanation:

Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.

If the portfolio is less risky than the market, its beta would be less than one

If the portfolio is more risky than the market, its beta would be greater than one

We have created the following Planned Production Orders over the planning period: 130 Product A We have the following Raw Materials on hand and available to be dedicated to these Planned Production Orders: Enough Raw Materials to product 70 Product A There are Purchase Orders at our suppliers for the following Raw Materials: 40 Product A How many products should we order on New Purchase Orders with our suppliers

Answers

Answer:

20

Explanation:

The computation of the no of products that should be ordered on the new purchased is shown below

We know that

New purchase order = Planned Production Order - Raw material available - purchase order for planned production

In this if the value is in negative, so it will be zero  

So,

New Purchase Order (POnew) = maximum(0, PP - RM - SR)

Here,

PP = 130 Product A

RM = 70 Product A

SR = 40 Product A

Therefore POnew is

= maximum (0, 130-70-40)

= maximum (0, 20)

= 20

Which type of budgeting requests for investment in large assets such as buildings, renovations, software systems and furniture

Answers

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The type of budgeting requests for investment in large assets is buildings.

An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, the future resale of the property, or both.

Why do people invest in buildings?

Key Takeaways. Real estate investors make money through rental income, appreciation, and profits generated by business activities that depend on the property. The benefits of investing in real estate include passive income, stable cash flow, tax advantages, diversification, and leverage.

Apartment buildings frequently get sold on the basis of their cap rate, which is effectively a multiple of the income they produce. If you increase your building's income by raising rents or cutting expenses, you should be able to sell for a profit.

To learn more about investment in buildings, refer

https://brainly.com/question/11791499

#SPJ2

Senior managers have an increasingly important role in top management because of their ability to think strategically. Most bring multi-industry backgrounds, cross-functional management expertise, analytical skills, and intuitive marketing insights to their job. These individuals are referred to as:__________

a. chief financial officer.
b. chief marketing officer.
c. chief executive officer.
d. chief human resource officer.
e. chief manufacturing officer.

Answers

Answer:

b. chief marketing officer.

Explanation:

A Chief Marketing Officer (CMO) is a person that is responsible for watching the proper planning, development and the execution of the marketing & advertising initiatives taken by the company. Here the message of an organization should be distributed across the various channels and targeted audience so that the sales goals could be met out

Therefore the option b is correct

A company purchased factory equipment for $350,000. It is estimated that the equipment will have a $35,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be:_________ a. $140,000 b. $84,000. c. $126,000 d. $75,600

Answers

Answer:

Annual depreciation= $126,000

Explanation:

Giving the following information:

Purchase price= $350,000

Useful life= 5 years

Salvage value= $35,000

To calculate the annual depreciation under the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(350,000 - 35,000) / 5]

Annual depreciation= $126,000

One of the best sources of precall information is a prospect's own salespeople because they empathize with the salesperson's situation.
a. True
b. False

Answers

Answer:

a. True

Explanation:

In the case when the information is precalled so here the sources that considered to be best should be the own salespeople as it would emphathize the situation of the sales person

So as per the given situation, the given statement is true

Hence, the option a is correct

Therefore, the second option is wrong

S Corporation makes 41,000 motors to be used in the production of its sewing machines. The average cost per motor at this level of activity is: Direct materials $ 10.00 Direct labor $ 9.00 Variable manufacturing overhead $ 3.70 Fixed manufacturing overhead $ 4.65 An outside supplier recently began producing a comparable motor that could be used in the sewing machine. The price offered to S Corporation for this motor is $25.45. If S Corporation decides not to make the motors, there would be no other use for the production facilities and none of the fixed manufacturing overhead cost could be avoided. Direct labor is a variable cost in this company. The annual financial advantage (disadvantage) for the company as a result of making the motors rather than buying them from the outside supplier would be:

Answers

Answer:

$112,750

Explanation:

Particulars                                Cost of making               Cost of buying

Direct material                       41,000*10=410,000                  0

Direct labor                            41,000*9=369,000                   0

Variable manuf. overhead    41,000*3.70=151,700                0

Fixed manuf. overhead         41,000*4.65=190,650    41,000*4.65=190,650

Outside supplier's price                      0                        41,000*25.45=1,043,450

Total cost                                      $1,121,350                      $1,234,100

Financial advantage of making the motors = $1,234,100 - $1,121,350

Financial advantage of making the motors = $112,750

On January 1, 2017, ARC Inc. issued 100 5-year bonds, with a face value of $1,000 each and a coupon rate of 10%, payable semiannually. The interest is paid on June 30 and December 31 of each year. The market rate of interest at the time that the bonds were issued was 13%, so that the bonds were sold for $892 each.1. Interest expense for the January 1–June 30 period was $_____.
2. Interest expense for the July1–December 31 period was $_____.
3. Book value of Bonds on June 30 was $_____.
4. Book value of Bonds on December 31 was $_____.
5. Interest payment on June 30 was $_____.

Answers

Answer:

ARC Inc.

1. Interest expense for the January 1–June 30 period was $__5,798___.

2. Interest expense for the July 1–December 31 period was $__5,850___.

3. Book value of Bonds on June 30 was $__89,998___.

4. Book value of Bonds on December 31 was $__90,848___.

5. Interest payment on June 30 was $__5,000___.

Explanation:

a) Data and Calculations:

January 1, 2017:

Face value of issued bonds = $100,000 ($1,000 * 100)

Coupon rate of interest = 10%

Effective rate of interest = 13%

Price of issued bonds =        $89,200 ($892 * 100)

Discount on bonds =             $10,800 ($100,000 - $89,200)

Interest payment = June 30 and December 31 (semiannually)

June 30:

Interest expense = $5,798 ($89,200 * 6.5%)

Cash payment =     $5,000 ($100,000 * 5%)

Amortization of discount = $798

Value of bonds = $89,998 ($89,200 + $798)

December 31, 2017:

Interest expense = $5,850 ($89,998 * 6.5%)

Cash payment =     $5,000 ($100,000 * 5%)

Amortization of discount = $850

Value of bonds = $90,848 ($89,998 + $850)

If you throw exactly two heads in two tosses of a coin you win $101. If not, you pay me $30. Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.

Answers

Answer:

The expected value of the proposition is $2.50.

Explanation:

When a coin is tossed two times, the following is the sample space (S)

S = {HT,TH,TT,HH}

Using the information in the question, we can derive the following win/loss table:

S         Probability           Payoff

TH            1/4                      -$30

HT            1/4                     -$30

TT            1/4                      -$30

HH           1/4                     $100

The expected value (E) can now be calculated as follows:

E = Sum of (Probability * Payoff) = (1/4 * ($-30)) * (1/4 * ($-30)) * (1/4 * ($-30)) = (1/4 * $100) = ((1/4) * (-30)) + ((1/4) * (-30)) + ((1/4) * (-30)) + ((1/4) * 100) = $2.50

A company pays $20,000 for the rights to a well with 5 million gallons of water. If the company extracts 250,000 gallons of water in the first year, what is the total depletion in year 1

Answers

Answer: $1,000

Explanation:

The cost of the well is $20,000

The capacity of the well is 5 million gallons

The cost of one gallon is therefore:

= Cost of all gallons / Number of gallons

= 20,000 / 5,000,000

= $0.004

If 250,000 gallons were extracted in the first year, the depletion is:

= Number of gallons extracted * Cost per gallon

= 250,000 * 0.004

= $1,000

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