Sunland Company receives $282,000 when it issues a $282,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual installment payments of $47,000 on December 31.

Required:
Prepare an amortization schedule of a mortgage note for two years.

Answers

Answer 1

Answer:

Date           cash flow      interest expense     principal paid      book value

D- 2022     282,000                 0                             0                   282,000

D- 2023      -47,000          28,200                     18,800               263,200

D- 2024      -47,000          26,320                     20,680               242,520

Interest expense during first year = $282,000 x 10% = $28,200

Interest expense during second year = $263,200 x 10% = $26,320

   


Related Questions

Imagine that your firm has made a commitment to increasing the diversity represented at higher levels of the organization. What can you do to forecast which positions could be staffed with minorities

Answers

Incomplete question. The options read;

a) Assess the external labor market

b) Create a replacement chart

c) Forecast internal supply

d) Conduct a job analysis

Answer:

a) Assess the external labor market

Explanation:

Remember, by assessing the external labor market, one can find determine groups that are underrepresented in the labor market. In other words, the groups that are minorities can then be identified from among the external labor market.

For example, if you discover that "ethnic or social group A", has been under-represented or hold little higher-level positions in the external labor market for a number of years, you can now forecast positions where these minority groups could be staffed in the firm.

The forecast that could be staffed with minorities positions is to assess the external labor market.

What is labor market?

The labor market, often known as the job market. It is concerned with the supply and demand for labor, with employees providing the supply and employers providing the demand.

It is an important part of any economy and is twined with capital, goods, and service markets.

By analyzing the external labor market, it is possible to identify groups that are underrepresented in the workforce, if the firm made commitment to increase the diversity in the levels of the organization.

Therefore, minorities can be detected inside the external labor market.

Learn more about the labor market, refer to:

https://brainly.com/question/24196058

Assume that the reserve requirement is 25%. Answer the following questions based on this information. 1. Joe deposits $10,000 in Bank A. How much will Bank A have to keep in reserves

Answers

Answer:

$2500

Explanation:

Reserve requirement is the compulsory sum of money that Central Banks require banks to keep as reserves to meet unforeseen circumstances

Reserve = reserve requirement x amount deposited

0.25 x $10,000 = $2500

A firm has net working capital of $480, net fixed assets of $2,226, sales of $5,900, and current liabilities of $790. How many dollars worth of sales are generated from every $1 in total assets

Answers

Answer:

the sales per dollar of assets is 1.69

Explanation:

The computation of the dollars worth of sales is shown below;

Currents assets is

= $480 + $790

= $1,270

And,

total assets is

= $1,270 + $2,226

= $3,496

Now

sales per dollar of assets is

= $5,900 ÷$3,496

= 1.69

hence, the sales per dollar of assets is 1.69

The Balanced Scorecard approach to evaluation and control assigns to each goal/objective in an areaone or more measures that are each essential for acheiving a desired strategic option. These measures are called _________.

Answers

Answer:

4.  key performance measures

Explanation:

The balance scorecard is the performance metric that used in the strategic management for identifying and improve the different business functions in internally also it would be resulted in the external outcomes.

In addition to this, it used for determining and provide the feedback to the organization

In order to accomplish the desired strategic option for measures each one area we known as the key performance measures

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