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lorasvet [3.4K]
2 years ago
15

On June 1, Year 1, Yola Corp. lent Dale $500,000 on a 12% note, payable in five annual installments of $100,000 beginning Januar

y 2, Year 2. In connection with this loan, Dale was required to deposit $5,000 in a noninterest-bearing escrow account. The amount held in escrow is to be returned to Dale after all principal and interest payments have been made. Interest on the note is payable on the first day of each month beginning July 1, Year 1. Dale made timely payments through November 1, Year 1. On January 2, Year 2, Yola received payment of the first principal installment plus all interest due. At December 31, Year 1, Yola’s interest receivable on the loan to Dale is ________.
Business
2 answers:
sweet [91]2 years ago
8 0

Answer:

C) $10,000

Explanation:

The last interest payment was made on November 1, so by December 31, two months worth of interest is considered receivable.

Interest receivable = principal x interest rate x time periods = $500,000 x 12% x (2/12) = $10,000

By December 31, no principal payments had been done yet.

Mariulka [41]2 years ago
8 0

Answer:

Options Include:

A. $0

B. $5,000

<em>C. $10,000  is Correct</em>

D. $15,000

Explanation:

Since the last interest payments were paid on November 1, the November and December interest is not paid as of December 31, 2005.

<em>As of December 31, 2005, a gross receivable of $10,000= (2/12)(12 per cent)($500,000) is therefore receivable for two months of interest. </em>

As of this date no principal payments have been made.

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Which activity is the forth-step in the decision making process of solving a workplace problem?
STatiana [176]

Answer

Hi,

Correct answer option is {c}

Explanation

There are four stages of solving problems at a workplace;

• Defining the problem where the manager identifies the issue at hand to obtain detailed information about it

• Going through the alternatives, where it involves balancing logical thinking and creativity in accessing and comparing alternatives

• Selecting the best strategy that involves carefully consideration of the options and deciding the strategy which is best for the workplace problem

• Implementing the solution which involves applying the a mixture of reductive analysis and system thinking.

All the Best!

7 0
3 years ago
Paloma Co. Stars has four employees. FICA Social Security taxes are 6.2% of the first $113,700 paid to each employee, and FICA M
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Answer:

Explanation:

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4 0
2 years ago
Acme Home Lending offers home equity loans up to 80% of the home value for its customers. If Sally Johnson has a home valued at
Ivenika [448]

Answer:

c) $110,000

Explanation:

The computation of the borrowing amount is shown below:

= Value of home × given percentage - current mortgage amount

= $200,000 × 80% - $50,000

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7 0
3 years ago
York Casting Services started the year with total assets of $110,000 and total liabilities of $50,000. The revenues and the expe
Wittaler [7]

Answer:

Net income:                             $

Revenue                             140,000

Expenses                            (50,000)

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Net income is the excess of revenue over expenses and dividend. A positive net income increases the stockholders' equity. Common                                                                                                                                                      stockholders are legal owners of a company, thus, any income not distributed as dividend increases their equity.                                                            

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2 years ago
Which is a helpful resource for you during the process of buying a home? A. Realtors B. Local programs C. Government programs D.
Klio2033 [76]

Answer:

A. Realtors

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2 years ago
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