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poizon
2 months ago
9

Central Valley Construction (CVC) purchased $80,000 of sheet metal fabricating equipment from Buffalo Supply on January 1, 20X1.

CVC paid $15,000 cash and signed a five-year, 10% note for the remaining $65,000 of the purchase price. The note specifies that payments of $13,000 plus interest be made each year on the loan’s anniversary date. CVC made the required January 1, 20X2, payment but was unable to make the second payment on January 1, 20X3, because of a downturn in the construction industry. At this time, CVC owed Buffalo Supply $52,000 plus $5,200 interest that had been accrued by both companies. Rather than write off the note and repossess the equipment, Buffalo Supply agreed to restructure the loan as one payment of $50,000 on January 1, 20X5, to satisfy the restructured note. Use the following links to the present value tables to calculate answers. (PV of 1, PVAD of 1, and PVOA of 1) (Use the appropriate factor(s) from the tables provided.)
Required:
Prepare the entries CVC and Buffalo Supply would make on January 1, 20X3, to record the restructuring. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)
Business
1 answer:
Katen [3.5K]2 months ago
4 0

Answer:

......................

Explanation:

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Company XYY has recently won several bids and is now discussing how to structure the staff so that every contract can be success
Scilla [3833]

Answer:

Two organizational structures available to the company:

Functional structure: This is the most typical type of organizational structure and may already be in use by company XYY. In this model, employees are arranged into departments based on specific roles or functions.

The essential divisions may comprise a production department, a marketing department, a finance or accounting department, and a sales department.

Flatarchy: This term combines "flat" and "hierarchy" to define a structure that lacks a rigid hierarchy. Instead, it fosters collaboration among employees working together towards shared objectives for a more integrated approach.

4 0
4 months ago
Read 2 more answers
2. The city of Glendale borrows $48 million by issuing municipal bonds to help build the Arizona Cardinals football stadium. It
soldi70 [3635]

Response:

$5,917,965.66 annually

Clarification:

The sum of $48 million accounts for the total of all annuities after a decade. To determine how much the city of Glendale must allocate each year, we use the present value of annuity equation, outlined below.

P   = PV ×  r / 1 − (1+r)−n

Where P is the payment amount

PV = present value of annuity: $48,000,000.00

r = interest rate: 4 % = 0.04

n: number of periods: 10

P = $48,000,000 x {0.04/(1-(1+0.04)-10}

P = $48,000,000 x {0.04/ 1-0.6755641688)

P =$48,000,000x (0.04/0.3244358312)

P= $48,000,000 x 0.123290951

P= 5,917,965.66 per year

3 0
2 months ago
Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books and other educational suppli
soldi70 [3635]
Opportunity cost is defined as the loss incurred when one chooses one alternative over another.

In this scenario, the forgone option is full-time work along with other costs associated with that period when opting for schooling instead. Room and board expenses remain constant whether attending school or working full time, thus these are not factored in. Earnings from part-time work during school are deducted as they would have been earned during full-time employment.

Thus;
Opportunity cost = $20,000+$10,000+$1,000-$8,000 = $23,000
6 0
2 months ago
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