[The following information applies to the questions displayed below.]On January 1, Year 1, The Palms borrowed $200,000 to purchase a warehouse by agreeing to a 8%, 5-year note with the bank. Payments of $50,091.29 are due at the end of each year. The first payment will be made on December 31, Year 1.What is the interest expense for Year 1 and Year 2, respectively? (Round your final answers to the nearest dollar.)
A. $20,625 and $16,000
B. $16,000 and $13,273
C. $3,200 and $14,000
D. $16,000 and $16,350
Answer: B
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Riley does not know what to think about Josh’s actions at her new school. So, she monitors the social environment to learn more about him so she can reduce her puzzling questions regarding Josh’s intentions. This is an application of which of the following?
A. social identity model of de-individuation effects B. uncertainty reduction theory C. self-serving bias D. attribution theory
The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances: Cash$90,000 Liabilities$60,000Noncash assets 300,000 Henry,capital 80,000 Isaac, capital 110,000 Jacobs, capital 140,000Total$390,000 Total$390,000??Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.?Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a schedule of safe capital balances would be
appropriate for solving this item.)? HenryIsaacJacobsA)$33,000 $36,000 $51,000 B)$28,000 $36,000 $56,000 C)$29,333 $32,000 $58,667 D)$24,000 $48,000 $48,000 E)$38,000 $26,000 $56,000 A. Option D. B. Option C. C. Option B. D. Option A. E. Option E.
Form 4070 is used by employers to record employees' tips subject to tax withholding and FICA taxes.
Answer the following statement true (T) or false (F)
Which of the following is a dimension of design quality?
A. Quality at the source B. Price C. Color D. Weight E. Features