At the end of a recent year, Summit Maintenance Solutions (SMS) had total assets of $5,400,000 and equity of $3,200,000. How much were SMS's liabilities? A) $8,600,000 B) $5,400,000 C) $2,200,000 D) $3,200,000
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- This year, Industrial Consolidated reported depreciation expense of $85,000 on its income statement while reporting Net Fixed Assets of $1,200,000 on its balance sheet. Last year, it reported depreciation expense of $110,000 and net fixed assets of $1,350,000. What was Net Capital Spending this year? Question 6 options: ($40,000) $70,000 $45,000 $260,000 ($65,000)The MACRS depreciation allowances on 3-year property are 33.33%, 44.45%, 14.81%, and 7.41%, respectively. What is the amount of the depreciation for Years 1, 2, and 3 for a 3-year property with an initial cost of $64,000?The entity has an unsecured overdraft of R20000 at prospect Bank that carries an interest rate of 22% per annum. In which one of the following statement will this item be shown? A.Statement of financial position as a current liability B.Statement of financial position as a non current liability C.Statement of income and expenditure as finance costs C.Statement of financial position as current asset
- shobhaThe internal rate of return method is used by Testerman Construction Co. in analyzing a capital expenditure proposal that involves an investment of $60,465 and annual net cash flows of $15,000 for each of the nine years of its useful life. Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.037 2.855 2.589 5 4.212 3.791 3.605 3.353 2.991 6 4.917 4.355 4.111 3.785 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4.487 3.837 9 6.802 5.759 5.328 4.772 4.031 10 7.360 6.145 5.650 5.019 4.192 a. Determine a present value factor for an annuity of $1 which can be used in determining the internal rate of return. If required, round your answer to three decimal places. b. Using the factor determined in part (a) and the present value of an annuity of $1 table above, determine the internal rate of return for the proposal. %Please Solve this Question with calculation
- The net income reported on the income statement for the current year was $185,000. Depreciation recorded on equipment and a building amounted to $96,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of YearCash $ 75,000 $ 86,150Accounts receivable (net) 84,550 90,000Inventories 186,200 175,000Prepaid expenses 3,600 4,500Accounts payable (merchandise creditors) 91,500…The acquisition price of a property is $380,000. The loan amount is $285,000. If the property’s NOI is expected to be $22,560, operating expenses $12,250, and the annual debt service $19,987, the debt coverage ratio (DCR) is approximately equal toAn equipment costing P220,000 has an estimated life of 14 years with a book value of P30,000 at the end of the period. Compute the depreciation charge and its book value after 10 years using: a. straight-line method b. sinking fund method c. declining balance method d. sum of year's digit method
- While on vacation in the U.S.A. your insured's Cadillac is damaged in an accident with a Georgia registered automobile, insured for minimum limits of $15,000/$30,000 Bodily Injury, and $10,000 Property Damage Liability. The Georgia driver is 100% liable for $20,000 damage to your insured's automobile. Your insured has an O.A.P. 1 Owner's Policy including Direct Compensation- Property Damage with standard deductible, OPCF 44R-Family Protection Coverage but no Collision insurance. How would the claim be paid? OA) $19,500 under the insured's Direct Compensation-Property Damage coverage. OB) Nothing under the OPCF 44R and $10,000 under the Georgia policy. OC) $10,000 under the OPCF 44R and $9,500 under Direct Compensation-Property Damage coverage. OD) $1000 under the OPCF 44R and $10,000 under the Georgia policy.This topic is about borrowing costs. Please choose the letter of the correct answer.The following information relating to an investment in equipment has been extracted from the books of LRB Ltd: The total purchase price is $78,560. Net sales revenue (relating to the equipment): Year-1 $38,000; Year-2 $29,000; Year-3 $24,000; and Year-4 $20,000. The required rate of return is 12%. The expected salvage value is $14,266 at the end of year 4. The depreciation rate is 18% straight line. If the applicable tax rate is 32%, calculate the tax amount in the fourth year relating to the sale of the equipment only. Use excel spreadsheet to Answer.

