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Marina CMI [18]
3 years ago
11

On October 1, Hill Corporation signed a 6-month note with principal of $10,000 and interest of $600 due in six months. The state

d rate of interest on the note is
Business
1 answer:
ANTONII [103]3 years ago
5 0

Answer:

the stated interest rate on the note is 12%

Explanation:

The computation of the stated rate of interest on the note is shown below:

= Interest ÷ Principal amount

= $600 ÷ $10,000

= 0.06

Since it is of six months but we have to determine annually

So we should multiplied it by 2

Like this

= 0.06 × 2

= 12%

hence, the stated interest rate on the note is 12%

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Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends.
WINSTONCH [101]

Answer:

The value of the stock today is $28.48

Explanation:

To calculate the value of the stock today, we will use the Dividend discount model which bases the value of a stock based on the present value of the expected future dividends from the stock. The value of the stock today using this model should be,

P0 = 1 / (1+0.1)^3  +  1 * (1+0.4) / (1+0.1)^4  +  1 * (1+0.4)^2 / (1+0.1)^5  +  

[ (1 * (1+0.4)^2 * (1+0.05)  /  (0.10 - 0.05))  /  (1+0.1)^5 ]

P0 = $28.48

7 0
3 years ago
A corporation purchased a piece of land for $50,000. The corporation paid attorney's fees of $5,000 and brokers' commissions of
larisa86 [58]

To find the total cost of the land is $65,000.

<h3>What is a corporation?</h3>
  • A corporation is a business or other type of organization that has been established by a group of people and has been given legal status as a single juridical person by virtue of a treaty, statute, or other act that has been passed by a state or supranational organization.
  • It can be a private or public law legal entity that is recognized in law for specific purposes.
  • 10 Early corporations were created with a charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature).
  • The majority of governments currently permit the registration of new corporations.
<h3>What are attorney fees?</h3>
  • Attorney's fee is a word used mostly in the United States to describe payment for legal services rendered by an attorney on behalf of a client, whether in or out of court.
  • It could be a flat-rate, hourly, or contingent charge.

<h3>Solution -</h3>

To find the total cost of the last, add all the numbers as follows:

50000+5000+3000+1500+6000 = 65,500

Subtract proceeds from the scalp = 65,500 - 500 = 65,000

Therefore, to find the total cost of the land is $65,000.

Know more about legal entities here:

brainly.com/question/14037572

#SPJ4

5 0
2 years ago
Why are checking accounts called demand deposits
OleMash [197]

Answer:

A checking account and savings account also called demand deposits because they are accessible at any time via teller, ATM, or online banking hence on demand.

Explanation:

6 0
3 years ago
Cost-push inflation can be described as a rightward shift of the aggregate supply curve.
Assoli18 [71]
Cost push inflation is caused due increase in cost of factor of production which leads to decrease in aggregate supply.
thus aggregate supply tend to shift leftward.
thus it is false
3 0
3 years ago
What is LVN​ Corporation's direct labor efficiency​ variance? (Round any intermediary calculations to the nearest cent and your
Leokris [45]

<u>Complete Question:</u>

LVN Corporation's direct labor costs and related information for the month of June were as follows:

500 Actual total direct labor-hours

1000 Standard total direct labor-hours

Total direct labor cost $16,500

Unfavorable direct labor rate (rate) variance $600

What is LVN Corporation's direct labor efficiency variance?

A. $16,500 unfavorable

B. $7950 unfavorable

C. $7950 favorable

D. $16,500 favorable

Answer:

$7,950 Unfavorable

Explanation:

As we know that:

"Labor Efficiency Variance = (Actual Labor Hours Worked for Actual Production − Standard Hours for Actual Production) * Standard Rate"

If we consider the parenthesis elements in the formula, we can decide whether the variance is favorable or adverse. If the actual labor hours worked are more than the budget (standard hours for actual production) then the variance (difference) is adverse because greater the hours worked for same level of activity (Production Units) the greater is the labor cost. Hence the variance would be adverse and vice versa.

Here

Actual Hours Worked for actual production are 1,000 Hours

Actual total labor cost is $16,500

Standard Hours Worked for actual production are 500 Hours

Standard rate per hour is $15.9 per Hour <u>(Step 1)</u>

By putting values, we have:

Direct Labor Efficiency Variance = (1000 Hrs - 500 Hrs) * $15.9 per hour

= (1000  -  500) * $15.9 per share

= $7,950 Unfavorable

<h2><u>Step1: Find Standard Labor Rate</u></h2>

We can find the standard labor rate using the following labor rate variance formula:

Labor Rate Variance = (Standard Rate per Hour * Actual Hours Worked) − (Actual Rate per Hour * Actual Hours Worked)

Here

(Actual Rate per Hour * Actual Hours Worked) is total labor cost which is $16,500

Actual Hours Worked is 1000 Hours

Labor Rate Variance is ($600)

By putting values, we have:

($600) = (1000 Hours * Standard Labor Rate)  -  $16,500

($600) + $16,500 = 1000 Hours * Standard Labor Rate

$15,900 = 1000 Hours * Standard Labor Rate

Standard Labor Rate = $15,900 / 1000 Hours  = $15.9 per hour

7 0
3 years ago
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