Please helpGNatalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buyinga commercial oven. They know which oven they want and that it will cost $22,100. The company already has $6.500 set aside for thepurchase and will need to borrow the rest.►Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $15,600 onNovember 1, 2023, for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,600, on May 1and November 1 of each year plus 6 months of interest.(a)Prepare a payment schedule for the life of the note. (If answer is 0, please enter O. Do not leave any fields blank)

For Cookie & Coffee Creations Inc.,Cost of a commercial oven - $22,100Accumulated savings -…

Answered: Natalie and Curtis have been…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You decide to open a Lil Miss B's Bakery. You will only make whole wheat bread and sell it as a whole loaf. You were able to purchase the store and pay a monthly mortgage note payment of $1600 (this includes your taxes, insurance and loan payment). You placed your bills on levelized billing so you pay monthly $500 for electricity and $300 for water. Your secret whole wheat bread recipe makes one load of bread. The recipe calls for 3 cups of whole wheat flour (cost is 78 cents), 2 tablespoons of yeast (cost is 34 cents), 3 eggs (cost is 20 cents), one cup of milk (cost is 98 cents) and 2 tablespoons of honey (cost is $1.15). How many loaves of whole wheat bread does Lil Miss B's Bakery need to sell each month to breakeven if we charge $4.50 per loaf? choose the options.. Between 2,283 and 2,284 loaves.Between 2,285 and 2,286 loaves.Between 2,287 and 2,288 loaves.Between 2,289 and 2,290 loaves.
Chad purchased a new Toyota 4-runner for $32,500. He put a $5,000 down payment and financed the remaining amount. The loan on his truck is for 60 months and has a finance charge of $6,000. What is the APR on the loan? (Round to the tenth of a percent) 6.9% 8.0% 0.3% 7.5% Click the answer you think is right.
Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2021: Cash on hand and in the bank, $2,850; amounts due from customers from spa treatments, $1,850; building and equipment, $77,000; amounts owed to beauty supply outlets for spa equipment, $4,730; notes payable to a local bank for $39,570. Cash dividends of $2,000 will be paid to the stockholders during the year. Nicole also forecasts that first-year sales revenues will be $58,200; wages will be $27,500; the cost of supplies used up will be $10,500; office expenses will be $8,500; and income taxes will be $2,300. CC1-1 (Algo) Part 1 Required: 1. Based on Nicole's estimates, prepare a (forecasted) income statement for Nicole's Getaway Spa for the year ended December 31, 2021. NICOLE'S…
You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens Bank taken out 54 days ago that is due in 116 days. The amount of the loan is $37,000, and the rate is 7.5% using ordinary interest. You currently have some excess cash. You have the choice of sending Citizens $19,800 now as a partial payment on your loan or purchasing an additional $19,800 of serving supplies such as food containers, cups, and plastic dinnerware for your inventory at a special discount price that is "12% off" your normal cost of these items. a. How much interest will you save on this loan if you make the partial payment and don't purchase the additional serving supplies?Do not round intermediate calculations. Round final answer to the nearest cent. $ b. How much will you save by purchasing the discounted serving supplies and not making the partial payment?Do not round intermediate calculations. Round final answer to the nearest cent. $
When Molly adds all of her payments, how much will the car cost her?
Jeff & Bezos is a fresh groceries delivery company. The company has access to borrowing funds at a pre-tax rate of 6 % per year. Jeff & Bezos pays income taxes using 21 % tax rate. The company would like to start using high-speed low-altitude drones to deliver grocery purchases directly to residential customers' backyards. By doing so, the company would be saving $1.4 million pre-tax every single year. Jeff & Bezos is contemplating leasing the drones for a lease term that matches the drones' economic life. It would lease them from a different company, Nets & Flicks, that currently owns the required number of the drones. Doing that would have an estimated pre-tax annual cost of $1,970,000. Nets & Flicks' requirement is that the lease payments are made by Jeff & Bezos at the beginning of each year. Instead of leasing the fleet of the drones, Jeff & Bezos is also contemplating buying them, which would cost the company $8.8 million. If the company chooses to buy…
Jenny is thinking of buying a car costing $120,000 (including COE) as she is already spending about $1,000 a month on taxi, Grab and Gojek. She reckons that she probably needs to just top up a bit more to pay for the monthly instalment. Moreover, she said the interest rate for car loan is very cheap. She is offered a simple flat rate of 2.3% for a loan of $84,000 for a period of 7 years. (i) Compute the effective annual interest rate (EAR) of the car loan.
Hannah is exploring savings options from several different banks and has settled on one of the financial products offered by Bank A. Calculate the effective annual interest rate for Hannah given that the nominal annual interest rate is 3% p.a. Note that the nominal interest rate is compounded monthly. Additionally, Bank B is offering the same product with an effective interest rate of 5.5% p.a. Given this, would Hannah be better off saving with Bank A or Bank B? Justify your answer.
141. Subject :- Accounting
One year ago, the Jenkins Family Fun Center deposited $3,400 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $5,200 to this account. They plan on making a final deposit of $7,400 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 6 percent? Multiple Choice $18,516.29 $19,019.26 $19,431.85 $19,928.37 $17,421.48
Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100000 for the year. Activity Cost Pool Cost Driver Est. Overhead Cost Driver Activity Ordering and Receiving Orders 145000 500 orders Machine Setup Setup 319500 450 setups Machining Machine hours 1575000 125000 MH Assembly Parts 1250000 1000000 parts Inspection Inspections 325000 500 inspections If overhead is applied using activity-based-costing, the overhead application rate for ordering and receiving is?
Scarlett is considering the purchase of a new Wolf gas range by Sub-Zero Group, Inc. to increase the quality of the food served in her restaurant. It will also enhance the cooking experience for her and her chefs, as they won't have to fuss with the finicky electric burners they currently use. However, the new range is expensive. It will cost $9,920 to buy and properly install. On the upside, it should last for at least 7 years, at which time Scarlett may consider trading it in for another new range. While her operating costs will not decrease as a result of this purchase, Scarlett will be able to generate additional gross margin of at least $1,510 in the first year. After that, she expects the additional gross margin to grow by 10% each year for the next 4 years, at which point it will become stable for the remainder of the 7- year life. She believes the new range will be worth $1,010 at the end of this 7-year period. Her current range can be salvaged today for $250. Click here to…

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