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Loh Excavating Inc. is purchasing a bulldozer. The equipment has a price of $300,000. The manufacturer has offered a payment plan that would allow Loh to make 10 equal annual payments of $48,823.59, with the first payment due one year after the purchase.
Instructions
(a) How much total interest will Loh pay on this payment plan?
(b) Loh could borrow $300,000 from its bank to finance the purchase at an annual rate of 9%. Should Loh borrow from the bank or use the manufacturer's payment plan to pay for the equipment?
A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. Calculate the net cash provided or used by operating activities
Actual production in November was 3,100 units of Titactium. There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
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You have been asked to speak on the topic of the impact of organizational culture on decision making to a group of executives. In a five to seven paragraph speech, discuss the following.
On a multiple-step income statement, gain or losses on sale of equipment would be shown:
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