Being a convicted felon...

On October 1, Eder Fabrication borrowed $60 million and issued a nine-month promissory note. Interest was payable at maturity. I

7nadin3 [17]

Answer:

cash 55,110,929 debit

note payable 55,110,929 credit

--to record singing of promissory note with discounted interest--

interest expense 1.583.741,77 debit

note payable 1.583.741,77 credit

--to record accrued interest on note payable --

Explanation:

the note plus interest will be for 60 millions.

So to calcualte the isuance ofthe note we must calculate the present value of a lump sum at 12% discount rate:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 60,000,000.00

time 0.75

rate 0.12

$\frac{60000000}{(1 + 0.12)^{0.75} } = PV$

PV 55,110,929.18

then at December 31th we solve for the accrued interest:

$Principal \: (1+ r)^{time} = Amount$

Principal 55,110,929.18

time 0.25 (3 months over 12 month a year)

rate 0.12000

$55110929.18154 \: (1+ 0.12)^{0.25} = Amount$

Amount 56,694,670.95

accrued interest: 56,694,670.95 - 55,110,929.18 = 1.583.741,77

8 0

3 years ago

A process that produces computer chips has a mean of .04 defective chip and a standard deviation of .003 chip. The allowable var

Anarel [89]

Answer:

a) 0.667

b) Yes

Explanation:

Data provided in the question:

Mean = 0.04

Standard Deviation = 0.003

Upper Specification Limit, USL = 0.046

Lower Specification Limit, LSL = 0.034

Now,

a) Capability Index is given as:

Cp = $\frac{(USL-LSL)}{(6\sigma)}$

or

Cp = $\frac{(0.046-0.034)}{(6\times0.003)}$

or

Cp = 0.667

Also,

Cpk = min( $\frac{(USL-Mean)}{(3\sigma)},\frac{(Mean-LSL)}{(3\sigma)}$

or

Cpk = min( $\frac{(0.046-0.04)}{(3\times0.003)},\frac{(0.04-0.034)}{(3\times0.003)}$

or

Cpk = min( 0.667 , 0.667 )= 0.667

Since,

Cp and Cpk are same in this case

therefore, it is ideal condition and process is capable

b) yes

6 0

2 years ago

Which statement below best describes the accounting equation? Multiple Choice The change in retained earnings equals net income

8_murik_8 [283]

Answer:

The correct answer is Resources of the company equal creditors' and owners' claims to those resources.

Explanation:

It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.

4 0

3 years ago

Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,800 Direct materials used

jenyasd209 [6]

Answer:

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,800

Heating and lighting costs for factory $22,900

Depreciation on factory equipment $5500

The company estimates that 2000 direct labor hours will be worked in the upcoming year.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

8 0

2 years ago

A market ______ growth strategy focuses on increasing sales of the firm's current products to its current target markets. multip

jeyben [28]

A market product growth strategy focuses on increasing sales of the firm's current products to its current target markets.

A product growth strategy increases sales looking all the prospects of the department rather than focus on only one department of the firm. It develops the firms production process in all aspects.

The strategy is made and planned according to the current market conditions to achieve its desired targets and get the maximum profit out of the production process that is taking place in the firm which in turn increase sales of the firm by increasing consumers demand.

To learn more about product growth strategy here,

brainly.com/question/13362867

#SPJ4

8 0

9 months ago