Who is responsible for developing a firm's mission?

Assuming a 360-day year, proceeds of $48,750 were received from discounting a $50,000, 90-day note at a bank. The discount rate

PIT_PIT [208]

Answer:

the discount rate should be 10%

Explanation:

The computation of the discount rate should be given below:

The Amount of discount is is

= $50,000 - $48,750

= $ 1,250

The $1,250 should be for 90 days.

So for 360 days, it should be

= $1,250 × 4

= $5,000.

And, the discount rate is

= $5,000 ÷ 50,000 × 100

= 10%

Hence, the discount rate should be 10%

3 0

3 years ago

On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interes

kari74 [83]

Answer:

If Interest is not Paid yet

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Interest payable $840,000

BankOne

Dr. Interest receivable $840,000

Cr. Interest Income $840,000

If Interest is Paid

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Cash $840,000

BankOne

Dr. Cash $840,000

Cr. Interest Income $840,000

Explanation:

Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.

As per given data

Amount borrowed = $14,000,000

Coupon rate = 6%

Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.

Coupon Payment = $14,000,000 x 6% = $840,000

$840,000 will be paid annually to the Bank one.

6 0

3 years ago

Analyse TWO benefits of being employed in an education sector (2×2=4)

chubhunter [2.5K]

Answer:

Benefits of being employed in the education sector include:

1)Being Exposed to Multiple Perspectives: Jobs in education tend to expose employees to a wide variety of perspectives and many different opinions.

2) Stable Schedule: Employees in the education sector can rely on a reliable work schedule with stable hours and little overtime. In the education sector, you do not have to work over time. The timings are exact and flexible along with the weekends off.

7 0

3 years ago

Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives

soldier1979 [14.2K]

"Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip..." this is a quitclaim deed. This is further explained below.

Generally, the deed is simply defined as Legal documents that are signed and delivered, particularly those that deal with property or legal rights.

In conclusion, When a company pays another company to relinquish a claim to a strip mine, it is executing a quitclaim deed.

Read more about deed

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5 0

2 years ago

Benchmarking involves:

creativ13 [48]

Answer:

1. comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs and effectiveness of these activities.

Explanation:

Benchmarking -

It is the method of comparing the business performance and the process like the cost , time and quality .

Benchmarking is also known as process benchmarking , or , best practice benchmarking .

It is the comparison among various companies , that how the company performs various value chain activities .

Hence , from the question , the correct statement for the given term is ( 1. ) .

5 0

3 years ago