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Norman is considering the purchase of some investment land from his neighbor, Robin, a high school math teacher. Robin purchased the land 10 years ago for $6,000. They have agreed on the overall terms of payment of $800 every month for the next three years for a total of $28,800. They have not agreed on how much of each payment is interest and how much is principal. Norman thought that a fair interest rate would be 8 percent with the rest of each payment allocated to principal. Robin, however, said that he wanted to ""give his neighbor a break"" and only have 4 percent designated as interest with the rest of each payment allocated to principal. What difference does it make to Norman and to Robin how much is allocated to interest versus principal if the total of the cash payments will not change? Which interest rate would be better for Norman?
By automating the process, the company would save $108,000 per year in cash operating costs. The simple rate of return on the investment is closest to:
On December 1, 2008, ABC Linens sold merchandise which costs $400 on account to the Green Hotel Co. for $600 with terms of 3/10, n/30. ABC Linens uses a perpetual inventory system. The journal entry to record this transaction on ABC Linens' books ..
Wade's Market recorded the following events involving a recent purchase of merchandise:
The stockholder's equity accounts of Lawrence Company have the folowing balance on December 31, 2010. Common stock, $10 par, 274,000 shares issued and outstanding $2,740,000, Paid-in capital in excess of par $1,200,000, Retained Earnings $5,600,00..
What accounting transactions are not recorded by an accountant during partner liquidation?
On October 15, the corporation's board of directors declared a cash dividend of $0.50 per share payable on November 15 to stockholders of record on November 1. What is the amount of dividends declared?
advanced management accounting questionsquestion 1 there is a company called walmart and it deals with machining work
Determine the total direct manufacturing cost. Briefly explain the difference between manufacturing overhead costs and selling and administrative costs. Calculate both the total manufacturing overhead cost and the total selling and administrative cos..
Sources and Uses of Cash. State how each of the following events would affect the firm's balance sheet. State whether each change is a source or use of cash.
many organizations have been in the news over the past few years due to accounting ethical breaches that have affected
Submit a tax file memorandum with proper citations of all sources: I want to see citations of the court case, a revenue procedure, and a specific section of the IRC.
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2013 balance sheet reported the following: cash, $1,340,000; prepaid expenses, $400,000; noncurrent assets, $2,800,00..
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