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3 years ago

Gabrielle daily borrows $1,000 at a 6 percent add-on rate for one year.what is the finance charge?answers

1 answer:

5 0

P - principle of the loan
FC - finance change or total interest
N - number of months the loan is force

FC = ($1,000 x .06 x 1)
FC = $60

Finance charge is $60.

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On January 1, 2018, Surreal Manufacturing issued 600 bonds, each with a face value of $1,000, a stated interest rate of 3 percen

Hoochie [10]

Answer:

Period Bonds Interest Cash Increase in Bonds payable

Payable Expenses Paid Bonds payable at the end

2018 583352 23334.08 18000 5334.08 588686.1

2019 588686.1 23547.44 18000 5547.44 594233.5

2020 594233.5 23766.48 18000 5766.48 600000

Journal entries

Jan 01 2018

Cash account Dr $583352

Discount on Bonds Payable Dr $16648

Bonds payable Cr $600000

Dec 31 2018

Interest expense Dr $23334.08

Cash account Cr $18000

Discount on bonds Payable Cr $5334.08

Dec 31 2019

Interest expense Dr $23547.44

Cash account Cr $18000

Discount on bonds Payable Cr $5547.44

Dec 31 2020

Interest expense Dr 23766.48

Cash account Cr $18000

Discount on bonds Payable Cr $5766.48

Dec 31 2020

Bonds Payable Dr $600000

Cash account Cr $600000

01.01.2020 (Redemption at 101)

Bonds Payable Dr $600000

Loss on redemption of bonds Dr $11766.48

Cash account (600000*101%) Cr $606000

Discount on bonds payable Cr $5766.48

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3 years ago

Why is 'task complexity' an issue in the process of goal setting?

likoan [24]

The more complex the task the more difficult it is to reach goals. People are more likely to achieve goals when tasks are easier. Simplifying tasks can help goal setting.

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3 years ago

What is the margin of safety (in sales) when a business has sales of $485,000, sales of $225,000 at break-even point, and unit s

lilavasa [31]

Answer:

Margin of safety= $260,000

Explanation:

Giving the following information:

Sales= $485,000

Break-even point in dollars= $225,000

To calculate the break-even point in sales dollars, we need to use the following formula:

Margin of safety= (current sales level - break-even point)

Margin of safety= 485,000 - 225,000

Margin of safety= $260,000

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3 years ago

Weighted average cost of capital American Exploration, Inc., a natural gas producer, is trying to decide whether to revise its

saw5 [17]

Answer:

American Explorations current WACC is 9%

Explanation:

The computation of WACC is shown below:

= (Cost of equity × equity percentage) + (after-tax cost of debt × debt percentage)

= (12% × 50%) + (6% × 50%)

= 6% + 3%

= 9%

Since we have to compute only current WACC so we considered the 50-50 ratio. Hence, we ignored 70% cost of debt

WACC shows a relationship between debt, equity and the preferred stock.

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3 years ago

Buatlah Jurnal Penyesuaian dan Jurnal Pembalik dari:

mash [69]

Answer:

I don't understand

Explanation:

English?

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3 years ago