The horticulture is the science and management in cultivation of all forms of plants, including fruits, vegetables, ornamental plants, or flower.
Floriculture, on the other hand, is the science and management in cultivation of the only flower in particular (which also include most of the ornamental plants because the majority of ornamental plants use flowers)
Answer:
1.Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2.Interest expense 28,800
Principal Reduction 61,364
Explanation:
MM Co.
1 . Journal entry
Since MM Co. borrows $360,000 cash on January 1 from a bank this means we have to
Debit Cash with the amounts of money he borrowed which is $360,000 and Credit Notes Payable with the same amount.
Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2. Calculation of the amount goes toward interest expense and Principal reduction
Interest expense 28,800
(360,000*8%)
Principal Reduction 61,364
(90,164-28,800)
Answer:
$131,000
Explanation:
Given that,
Stockholders’ equity at the beginning = $94,000
net income = $24,000
Dividends paid = $9,000
Common stock issued = $22,000
Stockholders' equity at the end:
= Stockholders Equity at the beginning + Net Income - Dividend + Common stock issued
= $94,000 + $24,000 - $9,000 + $22,000
= $131,000
Therefore, the total stockholders' equity at the end of the year is $131,000.
Answer: $688.17
Explanation:
He has to pay $60 every month on the first day or a lump sum.
The lump sum will be the present value of monthly payments.
This is a stable Cashflow and so is an Annuity and because it is done on the first day of the month it is an Annuity due.
Calculating present value of annuity due is;
= Annuity + Annuity (( 1 - ( 1 + r) ^ -(n - 1)) / r)
= 60 + 60 (( 1 - ( 1 + 0.833%)-¹¹) / 0.833%) )
=60 + 60* 10.4695
= $688.17
Note: interest rate must be divided into 12 to make it monthly rate.
=10%/12
= 0.833%
