Pinnacle Manufacturing doubled its amount of assets from the beginning to the end of the year. Liabilities at the end of the year amount to $600,000, and owner's equity is $120,000. What is the amount of Pinnacle Manufacturing's assets at the beginning of the year?
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- Tricana Corporation borrowed $80,000.00 at 4% compounded quarterly for 9 years to buy a warehouse. Equal payments are made at the end of every 3 months. (a) (b) (c) (d) Determine the size of the quarterly payments. Compute the interest included in payment 16. Determine the principal repaid in payment period 11. Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. (a) The size of the quarterly payment is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest included in payment 16 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The principal repaid in payment period 11 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) Complete the table below for the first three payments in the…A company has depreciation of $250,000 for the year. Interest is $75,000 on an outstanding loan of $1,000,000. Employee pay, outside services, repairs, utilities, transportation, legal fees, and similar expenses are $2,150,000. Taxable income is $225,000. What is the gross income for the year? a. $3,700,000 b. $2,700,000 c. $2,625,000 d. $1,700,000.In its first year of operations corporation Lauzer has the following results for the year: Gross income from operations $700,000 operating deductible expenses (200,000) short term capital gains 5,000 short term capital losses (14,000) long term capital gains 8,000 long term capital losses 3,000 What is the corporation's taxable income for the year?
- Subject : Accounting On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Borrowed $117,200 for nine years. Will pay $7,100 interest at the end of each year and repay the $117,200 at the end of the 9th year. Established a plant remodeling fund of $491,650 to be available at the end of Year 10. A single sum that will grow to $491,650 will be deposited on January 1 of this year. Agreed to pay a severance package to a discharged employee. The company will pay $76,100 at the end of the first year, $113,600 at the end of the second year, and $151,100 at the end of the third year. Purchased a $175,500 machine on January 1 of this year for $35,100 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. Required: 1. In transaction (a),…Webster's has beginning net fixed assets of $684,218, ending net fixed assets of $679,426, and depreciation expense of $48,859. What is the net capital spending for the year if the tax rate is 25 percent?Your Corporation bought $450, 000 of equipment using an installment loan 1/1/20. The note provides for 4.5 % annual interest and equal annual payments of interest and principal of $91,395.50 on December 31 of each year. What is the amount of principal reduction related to the YEAR 2 payment?