Answer:
The correct answer is A and C as both are true statement.
Explanation:
Credit Card is a facility which is offered by banks to borrow money and it could be used by the borrower for buying expensive goods and the services up front. It has a time period, in which the borrower need to make payment for the amount used by the borrower along with the interest charged.
So, if the borrower paid the minimum amount towards the credit card, then the borrower is still in debt until clears or paid the whole amount and also will be charged the interest against the remaining balance or amount.
Answer:
The answer is B.
Explanation:
The first is the journal. A journal entry may be a summary of the debits and credits of the transaction entry to the journal.
Followed by a ledger which may be a book containing accounts during which the classified and summarized information from the journals is posted as debits and credits.
Trial balance which is that the listing of all accounts (asset, liability, equity, revenue, expense) with the ending account balance or or its a report that lists the balances of all book accounts of a corporation at a specific point in time.
And lastly the financial statements. they're written records of a business's financial situation
Answer: Cost per unit $15.2, cost of good sold $10,640
Explanation:
Weighted Average cost per unit = 15,200/1000
= $15.2
Ending inventory (400 × 15.2)
= 6,080
Cost of good available for sale = 15,200
Cost of good sold (700 × 15.2)
= $10,640
Answer: Option A
Explanation: The given case relates to the problem of dissolution of partnership and not the dissolution of firm.
In case of dissolution of partnership only the existing agreement among the partners ceases to exist due to leaving or joining of new partners and a new agreement takes place among the existing partners.
In such a case, the account balance of the partner remains same. It changes in case of dissolution of firm.
Hence the correct option is A.
Answer:
1. PV = 101.87
2. YTM = 7.46%
3. Price of the bond is $100.92
Explanation:
PV = 8.5/ (1.065) + 108.5/ (1.075)2
PV = 7.981 + 93.889
PV = 101.87
Part B:
PV = 101.870
FV = 100
N = 2
PMT = 8.5
Using Financial Calculator:
r = 7.459237
YTM = 7.46%
Part C:
The forward rate for next year, derived from the zero-coupon yield curve, is approximately:
(1 + forward Rate) = (1 + 0.075)2/ (1.065)
forward rate = 8.51%
Price of the bond = 108.5/ (1.0851)
Price of the bond = 100
Part D:
Interest Rate = 8.51% - 1% = 7.51%
Price of the bond = 108.5/ (1.0751)
Price of the bond = 100.92
