{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Question 7

# Question 7 - Number of payment paid until January 2004 1...

This preview shows page 1. Sign up to view the full content.

Question 7 Calculate the outstanding receivables to Senec Construction Company at the end of August 31, 2008: Contract price: \$8,000,000 2% down payment: \$8,000,000 * 0.02 = \$160,000 The rest value of the contract price: \$8,000,000 - \$160,000 = \$7,840,000 Installment periods: 20 Quarterly payment: \$7,840,000 / 20 = \$392,000
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Number of payment paid until January 2004: 1 Number of payment need to pay: 5 * 4 - 1 = 19 Future value of the rest contract price: \$9,845,812 By calculate the future value of the rest contract price of \$9,845,821, we could find out the outstanding receivable is \$9,845,821 at the end of August 31, 2008....
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online