Exhibit 13-03 ? On January 1, 2017, Train, Inc accepted an $80,000, non-interest bearing 3 year note in exchange for equipment it sold to Steam Company. Train originally purchased the equipment for $125,000, and it had a book value of $75,000 on the date of the sale. The note was non-interest-bearing. An assumed 11% interest rate is implicit in the agreement. Actual information for 11%, three
periods, follows: ? Present value of 1 0.73119 Present value of annuity of 1 2.44371 ? ? Refer to Exhibit 13-03. What amount would Train show as the balance for Discount on Notes Receivable on December 31, 2018?
A) $7,928
B) $7,142
C) $15,071
D) $64,929
A
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Which of the following is an example of a tying agreement?
A. When purchasing a couch, the buyer is given free throw pillows. B. As part of purchasing a new computer, a buyer must also purchase a new monitor. C. When purchasing a new digital music player, a buyer is given the option of buying songs. D. When purchasing a used car, a buyer is offered a discount on new tires.
The Links Company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transactions occurred:Sept 7Links Company determined that the $8,000 account receivable of the Rainier Company was uncollectible, and wrote it off.Oct 15Links Company determined that the $3,500 account receivable of the Olympic Company was uncollectible and wrote it off.Nov 9Rainier Company paid $6,000 of the amount owed to the LinksCompany. Links Company does not expect further collections from the Rainier Company.Dec 31Links Company estimates that 1% of its $1,900,000 of creditsales would be uncollectible.1. Prepare the general journal entries to record these transactions.2. If the balance of the allowance for uncollectible accounts was a $4,000
credit on January 1 of the current year, determine the balance of the allowance for uncollectible accounts at December 31 of the current year. Assume that the transactions above are the only transactions affecting the allowance for uncollectible accounts during the year. What will be an ideal response?
Assuming W1, W2, and W3 are 0-1 integer variables, the constraint W1 + W2 + W3 < 1 is often called a
a. multiple-choice constraint. b. mutually exclusive constraint. c. k out of n alternatives constraint. d. corequisite constraint.
A(n) ________ leader is concerned primarily with the well-being of employees and emphasizes issues such as morale, job satisfaction, and relationships.
A. laissez-faire B. task-oriented C. people-oriented D. authoritarian