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exis [7]
3 years ago
10

The Tidewater State Bank has $1000 in total assets (all of which are earning assets), $700 of which will be replaced with in the

next 90 days. This bank also has $800 in total liabilities, $400 of which will be replaced within the next 90 days. Currently, the bank is earning 8% on its assets and is paying 5% on its liabilities. If interest rates do not change in the next ninety days, what is this bank's net interest margin?
Business
1 answer:
Nesterboy [21]3 years ago
5 0

Answer:

4.6%

Explanation:

The computation is shown below:

= (Interest on assets - Interest on liabilities) ÷ (Total earning assets)

where,

Interest on assets = (8% + 2% × $700) + 8% × $300

= $70 + $24

= $94

Now the interest on liabilities equal to

= 5% × 400 + (5% + 2% × 400)

= $20 + $28

= $48

So, the net interest margin equal to

= ($94 - $48) ÷ ($1,000)

= 4.6%

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B the past to the future

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Icy Mocha Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year. If the actual h
emmainna [20.7K]

Answer:

d) overapplied $160

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

$35,000 expected overhead / 5,000 machine= 7 dollar per machine hour are spend on overhead

<em><u>applied overhead:</u></em>

4,980 x 7 = 34,860

<u><em>actual overehad:</em></u> 34,700

As the amount of cost enter by the accounting are above the real cost, we are going to increase the manufacturing overhead cost and making the net income lower for this particular reason.

7 0
3 years ago
Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income stat
WARRIOR [948]

Answer;

Cost of goods manufactured =  Cost of finished goods available for sale - Beginning inventory of finished goods.

Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

a. Cost of goods manufactured =  Cost of finished goods available for sale - Beginning inventory of finished goods.

331,000 = a - 64,900

a = 331,000 + 64,900

= $395,900

b. Cost of goods sold = Cost of goods manufactured - Ending finished goods

b = 395,900  - 76,800

= $319,800

c. Cost of goods manufactured =  Cost of finished goods available for sale - Beginning inventory of finished goods.

c = 178,600 - 18,800

= $159,800

d. Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

d = 178,600 - 37,500

= $141,100

e. Cost of goods manufactured =  Cost of finished goods available for sale - Beginning inventory of finished goods.

65,800 = 103,400 - e

e = 103,400 - 65,800

= $37,600

f. Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

- missing figure (ending finished goods).

7 0
3 years ago
The accounting records of Compass Point Wireless include the following as of December​ 31, 2016​:
uysha [10]

Answer:

1,               Compass Point Wireless

                  Balance sheet (partial)

Current Liabilities:                                $

Accounts Payable                            71,000

Interest Payable                               17,000

Salaries Payable                               10,500

Unearned Revenue                          2,400

Current Portion of Bonds payable  24,000

Total current Liabilities                 $ 124,900

Long term Liabilities                               $

Mortgage Payable                              80,000

Bonds Payable                                    64,000

Premium on Bonds Payable               10,000

Total long term liabilities                 $154,000

Total liabilities = Total current Liabilities + Total long term liabilities

=  $ 124,900 + $154,000

= 278900

2. Debt        Stockholders' equity           Debt to equity ratio

 278,900             160,000                             1.74

Note: Debt to equity ratio = Debt / Stockholders' equity

6 0
3 years ago
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