1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Brilliant_brown [7]
3 years ago
11

You've worked out a line of credit arrangement that allows you to borrow up to $40 million at any time. the interest rate is .56

percent per month. in addition, 4 percent of the amount that you borrow must be deposited in a noninterest-bearing account. assume that your bank uses compound interest on its line of credit loans.
a. what is the effective annual interest rate on this lending arrangement? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) annual interest rate 7.23 %
b. suppose you need $20 million today and you repay it in 6 months. how much interest will you pay?
Business
2 answers:
dangina [55]3 years ago
8 0
My credit was recently improved by keinetcybertechnologies AT gmail . com to 820 . A friend referred them to me and now I am able to get a loan   
PilotLPTM [1.2K]3 years ago
7 0

945 is how much youd pay

You might be interested in
Equipment, beginning of year $ 340,000 Equipment, end of year 420,000 Accumulated depreciation, beginning of year 190,000 Accumu
sertanlavr [38]

Answer:

$100,000

Explanation:

The computation of the amount of cash paid for the purchase of equipment is shown below:

= Ending balance of an equipment + book value of the equipment - beginning balance of an equipment

= $420,000 + $20,000 - $340,000

= $440,000 - $340,000

= $100,000

We simply applied the above formula so that the amount of cash paid for the purchase of the equipment could come

3 0
3 years ago
Looking to increase the profits of his lemonade stand, Johann doubled the price of a cup of lemonade from 25 cents to 50 cents.
hjlf

Answer:

<u>1. Johann is looking to double the profits of his lemonade stand</u>

Explanation:

Note that Johann was<em> still making m</em>oney from lemonade stand but was not content with the profits he was making that was his argument or reason for increasing the price of a cup of lemonade from 25 cents to 50 cents.

<em>Without having forsight</em> Johann's decision eventually resulted in him selling fewer cups at the new price and therefore making less money than before.

7 0
3 years ago
Plus Company uses the estimate of receivables method of accounting for uncollectible accounts. Plus Co. estimates that $4412 of
Darina [25.2K]

Answer:

$4,412

Explanation:

If the company estimates that $4,412 of accounts receivables will be uncollectible, then it must record that number under the Allowance for Bad debts Account.

That account started the year with a $3,284 balance, it decreased by $1,826 (debt written off), and then must be adjusted by crediting $2,954 so its balance = $4,412 on December 31.

3 0
3 years ago
aylor &amp; Edwards Inc. manufactures television sets. Last month, direct materials (electronic components, etc.) costing $550,0
fenix001 [56]

Answer:

Unitary prime cost= $170.24

Explanation:

Giving the following information:

Last month, direct materials (electronic components, etc.) costing $550,000 were put into production.

Direct labor= $880,000.

Manufacturing overhead equaled $495,000

The company manufactured 8,400 television sets during the month.

Unitary prime cost= (direct material + direct labor)/number of units

Unitary prime cost= (550000 + 880000)/8400= $170.24

7 0
3 years ago
Fitzgerald Tech owns 20,000 shares of Buchanan Industries, which it purchased for $450,000 in 2016. On March 6, 2020, Fitzgerald
cupoosta [38]

Answer:

The debit to the retained earning should be $750,000 for this transaction because that is the market value of the asset to be distributed as dividend.

Explanation:

Property dividend is a form of dividend payout that involves distribution of company`s assets to equity holders as a form of return. These assets can be inventory, marketable securities or investment in a subsidiary.

For this distribution to be formal, it must be approved by the board of directors of the company. After approved and declared, the accounting entries can now be passed.

The accounting entries needed are:

Debit: Retained Earnings with the amount of the asset distributed.

Credit: Dividend Payable with the amount of the asset distributed.

It is important to note that  the market value of asset to be distributed should be considered i.e the market value of the asset must be recognized in the book. The difference in book value and market value of the investment will be recognized in respective asset ledger account prior transfer to retained earnings.So that the market value of the investment is recognized on the debit side of retained earnings

In the case of Fitzgerald, $750,000 will be debited to retained earnings since it is the market value of the asset to be distributed.

8 0
3 years ago
Other questions:
  • A company uses the indirect method to prepare the statement of cash flows. How will a gain from the sale of equipment be present
    11·1 answer
  • _____ describes the practice of products and services traded among countries around the world.
    12·1 answer
  • Organization development is a systemwide application of ________ knowledge to develop, improve, and reinforce the strategies, st
    5·1 answer
  • If the Fed purchases $50,000 in T-bills from a bank, by how much will the bank's excess reserves increase: a) by $50,000. b) by
    14·1 answer
  • Let's not do business with AVC Real Estate Company; they discount their commissions" is an example of what?a) Price fixingb) Boy
    8·1 answer
  • Clemente Santiago has formed a business that sells carved gourmet coconuts. He has hired five employees. The most senior is Mary
    13·1 answer
  • Individuals who fail to complete high school are at an increased risk for
    9·1 answer
  • Use the following information for ECE incorporated: Assets $200 million Shareholder Equity $100 million Sales $300 million Net I
    12·1 answer
  • How the business can use creative thinking to solve the problem​
    15·2 answers
  • A(n) ________ is an internet business model that provides an online meeting place where people with similar interests can commun
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!