The town of Oakdale assesses property at 70% of market value. The tax rate is 2.3%. A hospital has a total market value of $850,000 . How much does the hospital save by being exempt from property taxes?
$13,685
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Which of the following is NOT true of a scatter diagram?
A) It plots data pairs in an x- and y-axis graph. B) It will portray the amount of covariation between two metric variables. C) It plots the points corresponding to each matched pair of x and y variables. D) When there is no apparent association or relationship between two variables, the points on a scatter diagram fail to create any identifiable pattern. E) There is no relationship between scatter diagrams and correlation coefficients.
At the beginning of the year, a firm leased equipment on a capital lease, capitalizing $50,000 in both its lease liability and leased assets accounts. The contract calls for payments each December 31 of $10,000 . The lessee's annual reporting period ends December 31 and the contract reflects 10% interest. The lessee made the first payment as required. Which of the following should be reflected on
the statement of cash flows under the indirect method for the first year of the contract (ignoring noncash disclosures)? a. $10,000 financing cash outflow b. $10,000 operating cash outflow c. $5,000 operating cash outflow; $5,000 financing cash outflow d. $5,000 addition in the reconciliation of earnings and net operating cash flow
A bond is issued at par value when:
A. Straight line amortization is used by the company. B. The bond pays no interest. C. The bond is not between interest payment dates. D. The bond is callable. E. The market rate of interest is the same as the contract rate of interest.