Answer:
The correct answer is option (D).
Explanation:
According to the scenario, the given data are as follows:
Money borrowed = $30,000,000
Rate of interest = 9%
Time = 2 months
So, we can calculate the balance of loan interest payable by using following formula :
Balance of loan interest = ( Money borrowed × Rate of interest × Time ) / 12
= ( $30,000,000 × 9% × 2 months ) / 12
= $450,000
Hence, the balance of loan interest payable is $450,000.
Answer:
Nixon = (155,000/331,000)*15,500 = 7,258.31
Cleveland = (105,000/331,000)*15,500 = 4,916.92
Pierce = (71,000/331,000)*15,500 = 3,324.72
TOTAL DISTRIBUTION: 15,500.00
Explanation:
A cash liquidation distribution or liquidating dividend is a distribution of cash or other assets to shareholders when a business is liquidated. This distribution represents the amount of capital returned to the investor or business owner when a corporation is partially or fully liquidated. This dividend is paid out after all creditor and lender obligations have been settled, so the dividend payout should be one of the last actions taken before the business is closed.
The dividends are returned to investors per the capital structure of the business, not per profits and losses participation.
Answer:
$33,630
Explanation:
Given that the company's collection history shows that 43% of credit sales are collected in month of sale and the remainder (57%) is collected in the following month then, in the month of January, Cash collections in January from December credit sales would be equivalent to 57% of December Credit sales. Using the actual figures,
Cash collections in January from December credit sales would be
= 57% * 59,000
= $33,630
In business studies a resource is any factor that is necessary to accomplish a goal or carry out an activity. They are the the inputs to produce outputs. (they are also called factors of production.)
Answer:
2. True
Bank charges are the various fees account holders are charged in respect of maintenance of the account along with any other charges incurred in respect of specific transactions (e.g. cheque clearance charges, fund transfer charges, collection charges, etc). Bank charges are charged directly to the customer account thereby reducing the bank balance shown in the bank statement. These charges are usually not recorded by the business until the bank provides the bank statement at the end of a month which is why balance as per bank statement may be lower than the cash book balance.
