Answer: $85,500
Explanation:
From the question, we are told XYZ Corporation takes out a $1 million loan and the interest on the loan is paid semiannually.
We are also told that the six-month interest rate is six-month LIBOR 80 basis points, with a cap at 9.25%. Assume that LIBOR is at 8.5% on March 4, 1999, and 7.75% on September 4, 1999.
The second interest payments on the loan will be:
The interest rate will be:
Interest rate = LIBOR + 80bps
= 7.75 + 0.8
= 8.55%
Interest paid in the second period
= $1,000,000 × 8.55%
= $1,000,000 × 0.0855
= $85,500
Note that there is no need for using the cap since the interest didn't exceed 9.25%
Answer:
False
Explanation:
Farm cooperatives remain by far the most important food source in the world, both for direct human consumption and, indirectly, for livestock production inputs.
Since the mid-sixties, the world has managed to increase cereal production by almost one billion tons.
The business has expanded in recent decades, becoming a very prosperous industry.
Answer:
There are a large number of buyers and sellers in a perfectly competitive market. The sellers are small firms, instead of large corporations capable of controlling prices through supply adjustments. They sell products with minimal differences in capabilities, features, and pricing.
Answer:
The journal entry to record the direct material used in production is given below:
Dr Work-In Process Inventory $40000
Cr Raw Materials Inventory $40000
Explanation:
The work in process inventory is debited since it is the receiving account ,while raw material inventory is credited as it is the giving account.
The work in process depicts raw materials currently being worked upon at the production, from which completed goods are then transferred to finished goods inventory.
The raw materials inventory account is the account where raw materials received from vendors are first of all recorded before the need to issue to production process.
When such materials are received in the warehouse , the raw materials inventory account is debited while the supplier account is appropriately credited to show the amount of indebtedness.
Globalization is when a business or an industry expands worldwide to cover more countries in order to generate more income and influence over the world.
