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- 6 - Which of the following is the account and amount that should appear in the dotted places in the journal article above? a) 191 VAT Deductible 5.400 TL B) 391 VAT to be calculated Hs. 5.400 TL NS) 391 Calculated VAT Hs. 6.300 TL D) 360 Taxes and Funds Payable Hs. 5.400 TL TO) 191 VAT Deductible 5,000 TL2. A credit sale of P750 is made on June 13, term 2/10, net/30. A return of P50 is granted on June 16. The amount received as payment in full on June 23 is: a. P700 b. P650 c. P686 d. P685At 9% determine the date of equivelance between the two following notes: $7800 with a due date on May 31 $7880 with a due date on July 10
- Compute the present values of the following annuities first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Present Value Present Value Interest Rate (Payment made on last day of period) (Payment made on first day of period) Payment Years (Annual) 748.09 8. 14 % 8,668.26 14 7 21,022.93 24 70,412.54 32What amount wil reduce the amount due on an invoice of $1802 34 by 51180 B2 if the terms of the invoice are 4/15, v60 and the payment was made during the discount period? The payment amount is $ (Round the tinal answer to the noarest cent as nooded. Round all intermodiate values to six decimal places as needod)What nominal rate of interest compounded semi-annually can be used instead of 10 % comp. monthly a.) 8.89 % b.) 11.08 % c.) 9.83 % d.) 10.21%
- Required information [The following information applies to the questions displayed below.] On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): ( FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. a. Promised to pay a fixed amount of $7,000 at the end of each year for six years and a one-time payment of $117,000 at the end of the 6th year. b. Established a plant remodeling fund of $491,500 to be available at the end of Year 7. A single sum that will grow to $491,500 will be deposited on January 1 of this year. c. Agreed to pay a severance package to a discharged employee. The company will pay $76,000 at the end of the first year, $113,500 at the end of the second year, and $151,000 at the end of the third year. d. Purchased a $175,000 machine on January 1 of this year for $35,000 cash. A five-year note is signed for the balance. The note will be paid in five equal…12- Due to the concept of periodicity, interest, rent, etc. collected in the current period but concerning the future period. In which account are some incomes, such as, temporarily monitored? a) 380 Revenues for Future Months Hs. B) 181 Income Accruals Hs. NS) 642 Interest Income Hs. D) 649 Other Ordinary Income and Profits Hs. TO) 647 Rediscount Interest Income HsCASE 2 Rusty, Inc. reports gross profit on installment basis. The following data are available: 20X2 P500,000 362,500 137,500 20X1 20X3 Sales P480,000 360,000 120,000 P600,000 432,000 168,000 Cost of Sales Gross profit Cash Collections 150,000 95,000 From 20x1 Sales 90,000 145,000 160,000 125,000 From 20x2 Sales From 20x3 Sales Defaults 25,000 13,000 Unpaid balance of 20x1 installment contracts Value assigned to repossessed merchandise Unpaid balance of 20x2 installment contracts Value assigned to repossessed merchandise 30,000 12,000 32,000 18,000 REQUIRED: 3. Total realized gross profit before loss on repossession for 20x3 4. Loss on repossession for 20x3
- Use the amortization table to determine how much of the 8th payment is interest E Click the icon to view the amortization table. Amortization Table - X The interest amount af the Bth pnyment is S (Type an integer or a decimal.) Amortization Table Рауment Number Amount of Payment Interest Portion to Principal Principal at End of Period for Perlod $1000.00 $918.93 $86.07 $5.00 $81.07 $86.07 $4.59 $81.48 $837.46 $755.57 $86.07 S4.19 $81.88 $86.07 $3.78 $82.29 5673.28 $86.07 $3.37 $82.70 $590 58 S86.07 $86.07 $2.96 $83.12 $507 46 $423.93 $2.54 $83.53 $83.95 $86.07 $2.12 $339.08 $86.07 $1.70 $1.28 S84.37 $84.79 $255.61 10 $86.07 $170 82 $85.60 11 $86.07 S0.85 $85.22 12 S86.03 $0.43 S05.00 $0.00 Print DoneA sum d is held on deposit for a year at a rate of interest of r. Interest is paid n times throughout the year and is calculated such that the 0 payment varies with the proportion of the year that has passed since the last paymnent. Which is the correct formula for the end of year balance, d ? 1 a. Ob. C. d. d₁=d_(1+n) d₁= (1+ r n n 1/n r d₁=d_ (1+ — )" n n d₁=d_ (1+ -) " n82 How would the carrying value on the amortization table will be computed when an interest-bearing note collectible in installment at the end of each year was received at the beginning of the year? Group of answer choices the previous carrying value deduct the collection to principal and add the nominal interest. the previous carrying value add the amortization of premium and deduct the collection to principal. the previous carrying value add the effective interest and deduct the collection to principal. the previous carrying value add the collection to principal and add the amortization of discount.