At the end of Year Seven, Ace Company has the following account balances: accounts receivable - $70,000, advertising expense - $20,000, cash - $50,000, contributed capital - $150,000, cost of goods sold - $100,000, dividend distributions - $10,000, inventory - $90,000, machinery (net) - $410,000, notes payable (due in Year Ten) - $140,000, rent expense - $10,000, retained earnings, 1/1/7 - $200,000, salary expense - $90,000, salary payable - $60,000, and sales revenue - $300,000. What is net income

Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?

Bayside coatings company purchased waterproofing equipment on january 2, 20y4, for $190,000. the equipment was expected to have a useful life of four years and a residual value of $9,000. instructions: determine the amount of depreciation expense for the years ended december 31, 20y4, 20y5, 20y6, and 20y7, by (a) the straight-line method and (b) the double-declining-balance method. also determine the total depreciation expense for the four years by each method. depreciation expense year straight-line method double-declining-balance method 20y4 $ $ 20y5 20y6 20y7 total $

Bcorporation, a merchandising company, reported the following results for october: sales $ 490,000 cost of goods sold (all variable) $ 169,700 total variable selling expense $ 24,200 total fixed selling expense $ 21,700 total variable administrative expense $ 13,200 total fixed administrative expense $ 33,600 the contribution margin for october is: