On January 1, 2010, Zero Company obtained a $52,000, four-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, 2010. The December 31, 2011 carrying amount in the amortization table for this installment note will be equal to:
A) $26,000
B) $27,635
C) $21,642
D) $28,402
B
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A check written by a company but not yet presented to the bank for payment is called a check in transit
a. True b. False Indicate whether the statement is true or false
Burton Company purchased a van on January 1, 2018, for $800,000. Estimated life of the van was five years, and its estimated residual value was $90,000. Burton uses the straight-line method of depreciation. Prepare the journal entry to record the purchase of van for cash. Omit explanation.
What will be an ideal response?
Which of the following is true of the cash budget?
A) It is prepared first in the master budget. B) It is also called budgeted balance sheet. C) It consists of cash receipts and cash payments. D) It is the base for the preparation of the sales budget.
The expected value of a random variable is
A. the value of the random variable that should be observed on the next repeat of the experiment. B. the value of the random variable that occurs most frequently. C. the square root of the variance. D. None of these alternatives is correct.