Premier Co. acquired a machine on June 30, 20x1 and gave the seller a $20,000 cash...
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Premier Co. acquired a machine on June 30, 20x1 and gave the seller a $20,000 cash down payment and a two year, $180,000, non-interest bearing note calling for four, semi-annual payments of P&I in the amount of $45,000 each. The first payment is to be made on December 31, 20x1. The prevailing rate of interest was 12% APR. 3% PVOA of $1 for 4 periods 3.72 PVOA of $1 for 8 periods 7.02 O $144,000 O $140,920 Premier uses the straight-line method to depreciate its equipment with a 5-year life and no salvage. Determine the Book Value of the Equipment as of December 31, 20x1: $ O $140,535 6% 3.47 6.21 O $158,535 12% 3.04 4.97 Premier Co. acquired a machine on June 30, 20x1 and gave the seller a $20,000 cash down payment and a two year, $180,000, non-interest bearing note calling for four, semi-annual payments of P&I in the amount of $45,000 each. The first payment is to be made on December 31, 20x1. The prevailing rate of interest was 12% APR. 3% PVOA of $1 for 4 periods 3.72 PVOA of $1 for 8 periods 7.02 O $144,000 O $140,920 Premier uses the straight-line method to depreciate its equipment with a 5-year life and no salvage. Determine the Book Value of the Equipment as of December 31, 20x1: $ O $140,535 6% 3.47 6.21 O $158,535 12% 3.04 4.97
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Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
Posted Date:
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