Answer:
$908,551
Explanation:
Present value of the technology = First annual cash flow/(Discount rate-Growth rate))/Growth
Present value of the technology = ($158,335/(10.02%-2.24%))/2.24= $2,500,000
Present value of the technology = ($158,335/7.78%)/2.24
Present value of the technology = $2035154.241645244 / 2.24
Present value of the technology = $908551.000734483
Present value of the technology = $908,551
Stockton Company Adjusted Trial Balance December 31 Cash 6,102 Accounts Receivable 2,938 Prepaid Expenses 703 Equipment 15,970 Accumulated Depreciation 6,337 Accounts Payable 1,719 Notes Payable 4,543 Common Stock 1,000 Retained Earnings 10,872 Dividends 916 Fees Earned 6,176 Wages Expense 2,514 Rent Expense 761 Utilities Expense 459 Depreciation Expense 233 Miscellaneous Expense 51 Totals 30,647 30,647 Determine the retained earnings ending balance.
Answer:
Stockton Company
The retained earnings ending balance is:
= $12,114.
Explanation:
a) Data and Calculations:
Stockton Company
Adjusted Trial Balance December 31
Cash 6,102
Accounts Receivable 2,938
Prepaid Expenses 703
Equipment 15,970
Accumulated Depreciation 6,337
Accounts Payable 1,719
Notes Payable 4,543
Common Stock 1,000
Retained Earnings 10,872
Dividends 916
Fees Earned 6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51
Totals 30,647 30,647
Income Statement for the year:
Fees Earned $6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51 4,018
Net Income $2,158
Statement of Retained Earnings for the year:
Net Income $2,158
Retained Earnings 10,872
Dividends (916)
Retained Earnings, ending $12,114
On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Payment Effective Interest Increase in Balance Outstanding Balance 6,286,574 1 370,000 377,194 7,194 6,293,768 2 370,000 377,626 7,626 6,301,394 3 370,000 378,084 8,084 6,309,478 4 370,000 378,569 8,569 6,318,047 5 370,000 379,083 9,083 6,327,130 6 370,000 379,628 9,628 6,336,758 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 38 370,000 432,132 62,132 7,264,327 39 370,000 435,860 65,860 7,330,187 40 370,000 439,813 69,813 7,400,000 Required: 1. What is the face amount of the bonds
Answer:
The face amount of the bonds is $7,400,000
Explanation:
The face value or amount of the bonds is the amount that is repaid to the bondholder at the end of the maturity period. The face amount is usually stated on the bond certificate when issued, and the issuer of the bonds is expected to pay this amount at maturity. The amortization schedule of the bonds shows how the interest expense and payments are made and the amortization of either premiums or discounts on the bonds. It helps the issuer to account for the instrument over the maturity period.
10 Characteristics of a Successful Entrepreneur
Answer:
1.creativity
2.professionalism
3.risk taaking
4.passion
5.planning
6.knowledge
7. social skills
8.open mindedness towadrs learning, people and even failure
9.emphaty
10.the customer is everything
Explanation:
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