In the first payment on a 60- month, $10,000 car loan with an APR of 2.89%, how much pays off the principal?
Q: None
A:
Q: Managerial Accounting
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
Q: On January 1, 2020, James Company purchased 100% of the outstanding voting stock of Nolan, Inc., for…
A: Fair Value Allocation (1/1/2020): 1. Consideration Transferred:Cash: $1,000,000Other Consideration:…
Q: Give true answer don't use chatgpt
A: Step 1: Define Capital AssetFirms purchase capital assets to run their business operation and…
Q: What is the cost of goods sold for the company?
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is the sum of all the expenses incurred in…
Q: Give true calculation for this general accounting question
A: Step 1: Define Fixed OverheadAccording to cost and finance terms, fixed overhead is a company's…
Q: Give true answer
A: The question pertains to the determination of the total cost of the loan. The term loan refers to a…
Q: Prepare the income tax expense section of the income statement for 2025, beginning with the line…
A: Income Tax Expense Section Preparation for Sheridan CompanyIntroductionThe preparation of the income…
Q: General Accounting
A: Step 1: Since we're dealing with a series of equal payments over a predetermined length of time, we…
Q: Suppose you sell a fixed asset for $125,000 when it's book value is $139,000. If your company's…
A: Step 1: Define Tax-ShieldFirms use the tax-shield amount to save money by acquiring tax returns on…
Q: Hi expart Provide correct solution for this accounting question
A: Step 1: Define OverheadWe classify manufacturing overhead into a variable and fixed overhead.…
Q: Which of the following is a contra account?
A: Explanation of Contra Account: A contra account is used to offset the balance of a related account.…
Q: Don't use AI.
A: We need to calculate the present value of the profit stream over the 7-year period by integrating…
Q: **Riverbed's Warehouse** distributes hardback books to retail stores and extends credit terms of…
A: Under Perpetual Inventory System:Purchase DiscountRecorded only if discount is received.Reduces cost…
Q: Hello tutor need answer the accounting question
A: a. If it pays on day 15, which is within the discount period, it can get the 2% discount.1,000 x 2%…
Q: Need help with this accounting question
A: Step 1: Define Inventory ValuationIn accounting, the choice of inventory valuation method can…
Q: What is markowitz's asset turnover for 2011?
A: Step 1: Define Asset TurnoverThe asset turnover ratio measures the sales through the use of assets.…
Q: You are a forensic accountant for a public accounting firm whose client hired your team to perform a…
A: For nos. 1&2: It's highly unusual for a legitimate vendor and an employee to share the same bank…
Q: Provide answer this question not use ai
A: Step 1: Define Job Order CostingIn cost accounting, job order costing is a costing system that is…
Q: Can you please give answer for accounting question
A: Step 1: Calculate the daily variable costs for 100 hotdogsStep 2: Calculate the daily fixed…
Q: I need Answer
A: Explanation of Retained Earnings:Retained Earnings represent the portion of a company's profits that…
Q: Need help with this question
A: Step 1: Define Manufacturing Overhead CostsThe manufacturing costs of a firm may be classified into…
Q: None
A: Step 1: Define AssetsAssets in finance are goods, property, investments, and other economic…
Q: Financial Accounting
A:
Q: What is the direct labor rate variance?
A: Step 1: Define Direct Labor VarianceThe direct labor variance of a firm can be categorized into…
Q: Need Help to get Answer
A: Step 1: Introduction to depreciationDepreciation is referred to a method of expensing the cost of a…
Q: Give true answer this general accounting question
A: Step 1: Define Annual SalesAnnual sales are the sum of all the sales made during the year. The act…
Q: Provide solution this accounting question
A: Question 1:• Step 1: Calculate the total direct labor hours (DLH)• Step 2: Calculate the overhead…
Q: Can you please give me correct answer?
A: Detailed explanation:20x1Feb 19Record increase in asset, cash, by debit Cash $ 45,000Record increase…
Q: In September 2025, Cullumber Corp.commits to selling 155 of its iPhone-compatible docking stations…
A: Step 1:(b) Prepare the journal entry for the sale of 10 more stations after the contract…
Q: None
A: The percentage change in a stock's price over time in relation to its initial purchase price is…
Q: Given the probability density function f(x)=13f(x)=13 over the interval [1,4][1,4], find the…
A: Step 1: Objective and ConceptObjective:-To determine the standard deviation using the probability…
Q: Please need answer the accounting question
A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…
Q: Pat Colt is auditing the financial statements of Manning Company. The following is a summary of the…
A: a. What is the dollar impact of the misstatement identified in 2023 on each of the following (assume…
Q: Compute the October 20x1 1. The sales volume variance, in terms of operating income. Indicate…
A: 1.Units sold950Sales$760,000*Variable expenses(427,500)**Contribution margin$332,500Fixed…
Q: Intercompany Financing Transactions Sessions Athletic Gear borrowed $600,000 from its parent, PF…
A:
Q: Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had…
A: a) Calculate Roquan's deduction for qualified business income Assuming this is year 2023, and Roquan…
Q: Need answer the accounting question
A: Step 1: Define InventoryInventory is the greatest and regarded as the main asset of any business…
Q: CALCULATE SPACEX'S NET CAPITAL SPENDING IN FY24
A: The formula for determining the Net Capital Spending (NCS) would be:NCS = (Ending Fixed Assets…
Q: General Accounting
A: Step 1: Define Percentage Change In InvestmentPercentage change in investment occurs when there is a…
Q: Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt…
A: To calculate Matt and Meg Comer's tax liability for 2024, we first need to compute their taxable…
Q: Give me answer this general accounting question
A: Step 1: Define Trade CreditTrade credit is one of the issues managed by finance managers in managing…
Q: Hi expart Provide accounting question correct solution
A: Step 1: Define Cost allocationThe process of locating, gathering, and allocating expenses to certain…
Q: What was the standard rate for August?
A: Step 1: Introduction to standard costingStandard costing is a management accounting technique used…
Q: Need help with this question
A: Step 1: Define CVP AnalysisCVP stands for Cost, Volume, Profit analysis and is frequently used in…
Q: General Accounting
A: To determine the amount recorded in Samo Co.'s Work in Process (WIP) Inventory account, we need to…
Q: Hello tutor provide answer the accounting question
A: Step 1: Introduction to the Equated Monthly InstallmentsEquated monthly installments or EMI is a…
Q: Need help.
A: Step 1: Define Return on EquityStockholders equity is a different section on the balance sheet of a…
Q: Provide correct answer for this accounting question
A: Step 1: Define Interest ExpenseAside from interest payable, the company must record interest…
Q: What is its net income?
A: Step 1: Define Net IncomeThe net income of a firm is ascertained by deducting all the expenses like…
How much pays off the principal??
Step by step
Solved in 2 steps with 1 images
- What is the annual interest expense of this accounting question?You borrow $5,000 at 10% per year and will pay off the loan in 3 equal annual payments starting 1 year after the loan is made. The end-of-year payments are $2,010.57. Which of the following is true for your payment at the end of year 2? a. Interest is $500.00 and principal is $1,510.57 b. Interest is $450.00 and principal is $1,560.57 c. Interest is $348.94 and principal is $1,661.63 d. Interest is $182.78 and principal is $1,827.79.you obtained a $10000 loan at 1.5% compunded monthly. how much more interest will you pay in the second year compared to the third year of the loan
- After making 45 payments on a 60 - month, $10,000 car loan with APR of 4%, what is the outstanding balance on the loan?You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owewhen you begin making payments six months after you graduate?A loan for $36, 000 was obtained to be paid off over 5 years at 5.5% P. A with monthly repayments. a) What are the required monthly payments? b) How much is paid in interest over the life of the loan?
- Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 10) 30-year car loan for $235,000 at 3.21%; remaining balance after 20 years.Need help with this accounting questionConsider a student loan of $10,000 at a fixed APR of 6% for 4 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
- A borrower had a loan of $7800 at 5.6% compounded semiannually, with 20 semiannual payments. Suppose the borrower paid off the loan after 3 years. Calculate the amount needed to pay off the loan.What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?Consider a student loan of $25,000 at a fixed APR of 9% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
